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PACRA INSIGHT A Medium to communicate with the Users of Ratings

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Presentation on theme: "PACRA INSIGHT A Medium to communicate with the Users of Ratings"— Presentation transcript:

1 PACRA INSIGHT A Medium to communicate with the Users of Ratings
ISSUE III; February 2014 Wednesday, February 12, 2014 Humaira Jamil

2 Communicating……. The Insight behind PACRA INSIGHT PACRA’s Rating Universe (Product-by-product) – Key Developments & Trends Pakistan’s Rating Universe – Snapshot Industry View – General Insurance, Microfinance, Power, Refining, Textiles, AMCs, cement

3 The Insight behind PACRA INSIGHT
Consolidating Information Promoting Transparency There is nothing so terrible as ACTIVITY without INSIGHT Johann Wolfgang Von Goethe

4 PACRA’s Rating Universe – Key Developments & Trends

5 PACRA’s Rating Universe – Entities

6 PACRA’s Rating Universe – Entities

7 PACRA’s Rating Universe – Outlook Analysis
Ratings Outlook Analysis Positive Negative July 1, 2013 9 6 Translated in Rating Change (-) 1 3 Translated in Outlook Change (-) 2 Maintained (+) 5 Ratings Not Reviewed (+) Withdrawn (-) During 1HFY14: New (+) 4 Jan 01, 2014

8 PACRA’s Rating Universe – Instruments

9 PACRA’s Rating Universe – Instruments
PACRA INSTRUMENT RATING UNIVERSE (Entry / Exit) (For calendar year ended Dec 31, 2013) [Initial ratings] Issuers / Instruments Initial Instrument Ratings 1. NIB Bank | TFC II: Upto PKR 5,000mln (including a green shoe option of PKR 1,000mln) TFC TBI1 A+ 2. PAIR Investment Company | CP: PKR 500mln CP TBI AA 3. Bank Alfalah | TFC V: PKR 500mln TFC V issued Feb13 AA- 4. The Pakistan Water & Power Development Authority | PPTFC2: PKR 9,327mln TFC issued Sept13 AAA 5. Pakistan Refinery Limited | TFC I: PKR 500mln issued Aug13 A 6. Pakistan Refinery Limited | TFC II: PKR 500mln issued Aug13 7. Maple Leaf Cement Factory Limited | Restructured Sukuk: PKR 8bln Sukuk restructured Sept12 BB+ [Withdrawn3 ratings] Issuers / Instruments Last Instrument Ratings Engro Fertilizers | Sukuk II: PKR 1,500mln TBI 1TBI: To be issued CY13 had 15 Instrument Redemptions

10 PACRA’s Rating Universe – Asset Management Ratings

11 Credit Risk – Rise & Fall
A Rise in Credit Risk Entities Ratings New (Action date) Previous Notches Shaheen Insurance Company BBB- (01Aug13) A- 3 National Refinery AA+ (23Oct13) AAA 1

12 Pakistan’s Rating Universe - Snapshot

13 Pakistan’s Rating Universe – Classes of Ratings

14 Thank You ! UPCOMING: ISSUE IV; August 2014

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