KARACHI: VIS Credit Rating Company Ltd has upgraded the entity ratings of Meezan Bank Ltd to ‘AAA/A-1+’ from ‘AA+/A-1+’. The outlook on the assigned ratings is stable, said a press release.
The medium- to long-term rating of ‘AAA’ denotes highest credit quality, with negligible risk factors, being only slightly more than for risk-free debt of Government of Pakistan (GoP).
The short-term rating of ‘A-1+’ denotes highest certainty of timely payment, liquidity factors are outstanding and safety is just below risk-free short-term obligations of GoP.
Finnish Fund to invest in TPL Insurance
TPL Insurance Ltd, a subsidiary of TPL Corp Ltd, on Thursday announced that Finnish Fund for Industrial Cooperation Ltd Finnfund, a major development financier and impact investor, has entered into a letter of intent with it.
According to a press release upon completion of successful legal and financial due diligence and obtaining all regulatory approvals, Finnfund will look to invest in TPL Insurance.
Published in Dawn, July 2nd, 2021
