KARACHI, Dec 10: JCR-VIS Credit Rating Company has converted to final the preliminary rating of single A assigned to the proposed TFC-2 of Rs299 million of Security Leasing Corporation.

The outlook on this rating is positive, says a press release.

“The TFC-2 issue will span over a period of four years with a call option exercisable from the 12th to 42nd month of the date of issue by paying a premium of 0.15 per cent of the outstanding amount apart from the accrued profit.” The TFC-2 issue will be listed on the Karachi Stock Exchange.

JCR-VIS says the medium to long term and short term entity ratings and TFC-1 issue rating of Security Leasing Corporation remain unchanged at triple B plus and A-2 respectively. The outlook on these ratings is positive.