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KARACHI, July 6: JCR-VIS Credit Rating Company Limited has upgraded the medium to long-term entity rating of Allied Bank Limited (ABL) to ‘AA-‘ (Double A minus). Short-term rating has been maintained at ‘A-1+’ (A-One Plus), which denotes the highest certainty of timely payment.
The JCR-VIS has also upgraded rating of the first issue of subordinated, unsecured and listed term finance certificates of ABL to ‘A+’ (Single A plus). Outlook on the ratings is ‘Stable’, says a press release.
