November 23, 2018 (MLN): Pakistan Credit Rating Agency (PACRA) has maintained the entity ratings of First Habib Modaraba at ‘AA+’ for long term and at ‘A1+’ for short term, with a ‘stable’ outlook forecast.
An official press release by PACRA apprises that the ratings reflect FHM’s strong business profile emanating from healthy asset base, sound asset quality and sustained profitability.
“The ratings take into account good management quality and strong control environment and also reaching others customers through different business model,” says the agency.
The notification further adds that the ratings are dependent on the management's ability to sustain its competitive positioning while ensuring stable profitability.
The ratings also depend upon keeping its financial profile intact. Any significant change in its risk profile may adversely impact the ratings.
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