KARACHI, Feb 20: JCR-VIS Credit Rating Company Ltd has reaffirmed the rating of B-3 (B three) assigned to First Paramount Modaraba (FPM).

The rating company in a press release on Wednesday says that the outlook on the rating is ‘stable’.

The rating primarily recognizes the strong asset quality of the Modaraba, along with management’s efforts to diversify income streams by setting-up two Compressed Natural Gas filling stations and two conversion centres during 2001.

The 2002 will represent the first full year of operations for the stations, with the option of adding a third filling station also under consideration.

The liquidity position and returns of the FPM are satisfactory.