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PACRA INSIGHT. A Medium to communicate with the Users of Ratings ISSUE III; February 2014. Wednesday, February 12, 2014 Humaira Jamil. Communicating……. The Insight behind PACRA INSIGHT PACRA’s Rating Universe (Product-by-product) – Key Developments & Trends - PowerPoint PPT Presentation

Transcript of PACRA INSIGHT

A Medium to communicate with the Users of Ratings

ISSUE III; February 2014

PACRA INSIGHTWednesday, February 12, 2014Humaira Jamil

1The Insight behind PACRA INSIGHTPACRAs Rating Universe (Product-by-product) Key Developments & TrendsPakistans Rating Universe SnapshotIndustry View General Insurance, Microfinance, Power, Refining, Textiles, AMCs, cement

Communicating.

The Insight behind PACRA INSIGHT

Consolidating Information Promoting Transparency

There is nothing so terrible as ACTIVITY without INSIGHTJohann Wolfgang Von Goethe

PACRAs Rating Universe Key Developments & Trends

PACRAs Rating Universe Entities

PACRAs Rating Universe Entities

PACRAs Rating Universe Outlook AnalysisRatings Outlook AnalysisPositiveNegativeOpening @ July 1, 201396Translated in Rating Change (-)13Translated in Outlook Change (-) 20Maintained (+)53Ratings Not Reviewed (+) 00Withdrawn (-) 10During 1HFY14: New (+) 42 Opening @ Jan 01, 201495

PACRAs Rating Universe Instruments

PACRAs Rating Universe Instruments1TBI: To be issued 2CY13 had 15 Instrument RedemptionsPACRA INSTRUMENT RATING UNIVERSE (Entry / Exit)(For calendar year ended Dec 31, 2013)[Initial ratings] Issuers / InstrumentsInitial Instrument Ratings1.NIB Bank | TFC II: Upto PKR 5,000mln (including a green shoe option of PKR 1,000mln) TFC TBI1A+2.PAIR Investment Company | CP: PKR 500mln CP TBIAA3.Bank Alfalah | TFC V: PKR 500mln TFC V issued Feb13AA-4.The Pakistan Water & Power Development Authority | PPTFC2: PKR 9,327mln TFC issued Sept13AAA5.Pakistan Refinery Limited | TFC I: PKR 500mln issued Aug13A6.Pakistan Refinery Limited | TFC II: PKR 500mln issued Aug13 A7.Maple Leaf Cement Factory Limited | Restructured Sukuk: PKR 8bln Sukuk restructured Sept12BB+[Withdrawn3 ratings] Issuers / InstrumentsLast Instrument Ratings1.Engro Fertilizers | Sukuk II: PKR 1,500mln TBIA

PACRAs Rating Universe Asset Management Ratings

Credit Risk Rise & FallA Rise in Credit RiskEntitiesRatingsNew(Action date)Previous NotchesShaheen Insurance CompanyBBB-(01Aug13)A-3National RefineryAA+(23Oct13)AAA1

Pakistans Rating Universe - Snapshot

Pakistans Rating Universe Classes of Ratings

UPCOMING: ISSUE IV; August 2014Thank You !

PACRA ENTITY RATING UNIVERSE (Entry / Exit)(For calendar year ended Dec 31, 2013)

EntitiesInitial L/T RatingsWithdrawn EntitiesLast L/T Ratings

Financial Institutions

1.SME BankBBB1.Pak Brunei Investment CompanyAA

2.The Pakistan General Insurance CompanyA-2.Arif Habib InvestmentsA+

3.Waseela Microfinance BankBBB+

4.Saudi Pak Insurance CompanyA-

Corporates

5.Autosoft DynamicsA-3.Ahmed Fine Textile MillsA-

6.Mangla MetalsBBB4.Hussain MillsA-

7.Kohsar HydroPowerBBB5.FFC EnergyA

8Pakistan RefineryA-6.Halmore Power Generation CompanyA

9.Islamabad Electric Supply CompanyA+

10.Maple Leaf Cement Factory LimitedBB