SBP renews credit rating companies’ status

KARACHI: The State Bank of Pakistan (SBP) has renewed the status of both the credit rating agencies operating in Pakistan, JCR-VIS Credit Rating Company Limited (JCR-VIS) and the Pakistan Credit Rating Agency Limited (PACRA) as eligible / recognised External Credit Assessment Institutions (ECAIs) for the calendar year 2015, a statement

By our correspondents

April 18, 2015

KARACHI: The State Bank of Pakistan (SBP) has renewed the status of both the credit rating agencies operating in Pakistan, JCR-VIS Credit Rating Company Limited (JCR-VIS) and the Pakistan Credit Rating Agency Limited (PACRA) as eligible / recognised External Credit Assessment Institutions (ECAIs) for the calendar year 2015, a statement said on Friday.
Banks and Development Finance Institutions using the standardised approach of Basel framework are allowed to use credit ratings assigned by the JCR-VIS Credit Rating Agency and Pakistan Credit Rating Agency for CAR calculations, it said.