KARACHI, June 28: JCR-VIS Credit Rating Company Limited has reaffirmed the medium- to long-term ratings of Albaraka Islamic Bank B.S.C. (E.C.) - Pakistan branches (AIB) at ‘A’ with a ‘stable’ outlook.

The bank was assigned a short-term rating of ‘A-1’, said the rating agency in a press release issued here on Saturday.

In a separate hand-out it has reconfirmed the credit ranting of Zarai Taraqqiati Bank Limited (ZBTL) at ‘AAA/A-1+’ with a ‘stable’ outlook. This rating was based on the federal government’s guarantee for timely repayment of credit lines obtained from the SBP.

The rating agency has also maintained the entity ratings of Crescent Commercial Bank Ltd (CCBL) at ‘A/ A-1’ with ‘stable’ outlook.