Islamabad: Pakistan Credit Rating Agency (PACRA) has maintained long term and short term entity ratings of Pakistan Microfinance Investment Company (PMIC) at ‘AA’ (Double A) and ‘A1+’ (A One Plus) respectively. Rating reflects strong equity base, well-conceived business plans and strong ownership structure.

Ratings denote very low expectation of credit risk emanating from very strong capacity for timely payment of financial commitments which is not significantly vulnerable to foreseeable events.

PMIC, incorporated in 2016 is licensed to carry out investment finance services as Non-Banking Finance Company (NBFC) under NBFC Rules, 2003 and NBFC Regulations 2008. Strong sponsors, Pakistan Poverty Alleviation Fund (49pc), Karandaaz (38pc) and KfW-German development Bank (13p) strengthen financial profile of PMIC.

Published in The Daily National Courier, June, 28 2023

Like Business on Facebook, follow @DailyNCourier on Twitter to stay informed and join in the conversation.