December 17, 2018 (MLN): JCR-VIS Credit Rating Company Ltd. (JCR-VIS) has reaffirmed the Broker Management Rating of Intermarket Securities Limited (IMSL) at ‘BMR2’.

Outlook on the assigned rating is ‘Stable’.

According to the rating agency, the rating signifies strong internal and external controls; sound risk and client relationship management along with adequate regulatory compliance levels, HR & IT services and financial management.

The rating derives its strength from strong internal and external control environment supported by well-defined and prudent policy framework.

Moreover, earning profile of the company has witnessed downward trend on account of decrease in core brokerage income due to depressed market volumes during 2018.

Going forward, financial performance would remain sensitive to volatilities of local stock market and is subject to risks associated with it. Leverage indicators have remained manageable and below 1x mark.

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