LAHORE, Jan 9: The Pakistan Credit Rating Agency (Pacra)) has maintained the long-term rating at 'A+' (Single A plus), and the short-term rating at 'A1' (A One) of First Dawood Investment Bank Limited (FDIB), says a press release.

These ratings denote a low expectation of credit risk emanating from a strong capacity for timely payment of financial commitments. The rating of secured TFCs of Rs345 million has also been maintained at 'AA-' (Double A minus).

Meanwhile, Pacra has maintained the asset manager rating of Dawood Capital Management Limited at ‘AM3’. The rating reflects the company's strong capacity to manage the risks inherent in asset management.—APP