LAHORE, July 4: The Pakistan Credit Rating Agency (Pacra) on Friday withdrew long-term and short-term ratings of Crescent Investment Ltd (CresBank) after the approval by the central bank of its amalgamation with the Pakistani branches of Mashreq Bank.

CresBank, which is to be merged with Mashreq Bank from July 9, had been assigned long-term rating of “A-” (single A minus) and short-term rating of “A1” (single A one).