Entity Rating AA (Long Term), A1+ (Short Term) Maintained by PACRA |
June, 2009: The Pakistan Credit Rating Agency PACRA has maintained the long-term rating of AA (Double A) and the short term rating of A1+ (A one plus) of Allied Bank Limited ABL. AA Rating denotes a very low expectation of credit risk. The capacity for timely payment of financial commitments. This capacity is not significantly vulnerable to foreseeable events. A1 + denotes obligations supported by the highest capacity for timely repayment. ABL good performance prospects emanating from its extensive outreach sound capital structure and an improving asset quality. While seeking to strengthen its infrastructure and control environment the management intends to withstand in an increasingly competitive environment through achieving diversification in loan book and leveraging the extensive outreach to expand its retail universe both for credit expansion and low cost deposit mobilization. |
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