January 13, 2007	Saturday	Zilhaj 22, 1427

KARACHI, Jan 12: The Pakistan Credit Rating Agency (Pacra) has upgraded the asset manager rating of JS ABAMCO Limited to ‘AM2+’. The rating denotes the company’s strong capacity to manage the risks inherent in asset management and the asset manager meets very high investment management industry standards.

Pacra has also upgraded long-term and short-term credit ratings of JS ABAMCO to ‘AA-‘ (double A minus) and A1+, respectively. These ratings denote very low expectation of credit risk emanating from very strong capacity for timely payment of financial commitments, says a press release.