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Credit Rating
Pakistan Credit Rating Agency Limited (PACRA) has rated Standard Chartered leasing Limited.
Long Term Rating
PACRA has upgraded the long term rating of Standard Chartered
Leasing Limited to 'AA' (Double A).
Short Term Rating PACRA has maintained the short term rating at 'A1+' (A one Plus).
Credit Quality These ratings denote a low expectation of credit risk emanating from a strong capacity for timely payment of financial commitments.
The ratings reflect SCLL's strong association with Standard Chartered Bank (Pakistan) Limited (SCBPL), the majority shareholder in the company. Over the years the integration between the parent and the company has further strengthened. On standalone basis, though facing challenges of a relatively limited asset base and profitability, the company is embarked on a growth strategy capitalizing on the strong franchise of SCBPL. Also, the high riskabsorption capacity emanating from a sound equity base and low leveraged financial profile provides comfort to the ratings.
The ratings are dependent on the company's ability to
sustain its asset quality while building its lease portfolio
and further strengthening its risk profile through sustainable
profitability. Meanwhile, continuing support from SCBPL,
particularly in the areas of risk management and access
to its branch network to support business growth as well
as funds mobilization would remain imperative.
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