SBP renews status of VIS, PACRA

KARACHI: The State Bank of Pakistan (SBP) on Tuesday renewed the status of both credit rating agencies operating in Pakistan, “VIS Credit Rating Company Limited (VIS)” and “The Pakistan Credit Rating Agency Limited (PACRA)” as eligible / recognised External Credit Assessment Institutions for the calendar year 2019, a statement said.

Banks using the standardised approach of Basel framework are allowed to use credit ratings assigned by VIS and PACRA for capital adequacy ratio (CAR) calculation purposes, the central bank said.