JCR-VIS revises HBL’s rating

KARACHI: The JCR-VIS Credit Rating Company has reaffirmed HBL’s entity ratings at ‘AAA/A-1+’ and revised credit rating to ‘AAA’ from ‘AA+’, according to a statement. The outlook on all assigned ratings has been revised to ‘stable’ from ‘negative’.

“The assigned long-term ‘AAA’ rating indicates the highest credit quality; the risk factors are negligible, being only slightly more than the risk-free government of Pakistan debt,” the statement said. Short-term rating of ‘A-1+’ indicates highest certainty of timely payment; short-term liquidity, including internal operating factors and/or access to alternative sources of funds, was outstanding, it added. The reaffirmation of the ratings and the change in outlook to stable was driven by JCR-VIS’s assement of improved financial performance metrics in terms of capitalisation and asset quality indicators, while robust liquidity profile has largely been maintained.