PCICL ratings reaffirmed

KARACHI: JCR VIS Credit Rating Company Limited has reaffirmed the entity ratings of Pak China Investment Company Limited (PCICL) at triple A/A-One Plus, a statement said on Friday..

The medium- to long-term rating of ‘AAA’ denotes highest credit quality, with negligible risk factors, being only slightly more than for risk-free debt of the government of Pakistan.

The short-term rating of ‘A-1+’ denotes highest certainty of timely payment, liquidity factors are outstanding and safety is just below risk free short-term obligations of the government of Pakistan. Outlook on the assigned ratings is stable, it added. The previous rating action was announced on June 20, 2018,

The assigned ratings of PCICL incorporate implicit support of its two sovereign sponsors, government of Pakistan and the People’s Republic of China, with equal shareholding held through the Ministry of Finance and China Development Bank, respectively.