KARACHI, Nov 10: JCR-VIS Credit Rating Company has placed the entity and TFC ratings of Paramount Leasing Limited on rating watch.

The rating agency explained that the action has been taken following the resolution of the respective boards of PLL and First Standard Investment Bank Limited (FSIBL) to amalgamate PLL and two other leasing companies into FSIBL to form a new entity.

Outstanding entity ratings of PLL are A- and A-1, while the TFC 1 and TFC II are rated A+ and A respectively.—APP