KARACHI: State Bank of Pakistan has renewed status of both credit rating agencies operating in Pakistan namely “VIS Credit Rating Company Limited (VIS)” and “Pakistan Credit Rating Agency Limited (PACRA)” as eligible/recognised External Credit Assessment Institutions (ECAIs) for calendar year 2022, a statement said on Wednesday.
Banks and development finance institutions using standardised approach of Basel framework are allowed to use credit ratings assigned by VIS and PACRA for capital adequacy ratio (CAR) calculation purposes.