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| November 17, 2007 | Saturday | Ziqa’ad 06, 1428 |
Company news
KARACHI, Nov 16: JCR-VIS Credit Rating Company has maintained the entity ratings of Taurus Securities Limited (TSL) at ‘A-/A-2’ (Single A minus/A-Two), says a press release.
The assigned ratings take into account the implied support of the major sponsoring institution and quality of the management team. Implementation of a real time order management system has also strengthened TSL’s margin monitoring capabilities for its retail clientele.
JCR-VIS Credit Rating Company has assigned preliminary medium to long-term rating of A (Single A) to the proposed sukuks of Rs2 billion (with additional green shoe option of Rs1 billion) of Eden Housing Limited (EHL) with ’Stable’ outlook, says a press release.
In addition, JCR-VIS is assigning Real Estate Developer Grading of PE-1 (PE One Minus) to the company. The preliminary sukuk rating will be converted into final rating on review of the signed legal documents incorporating the structure of the transaction.
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