VIS harmonizes Summit Bank TCF ratings to "B" from "D"

MG News | July 12, 2023 at 03:09 PM GMT+05:00

0:00

July 12, 2023 (MLN): The VIS Credit Rating Company Limited (VIS) has harmonized the ratings of the Tier-2 Term Finance Certificate (TCF) of Summit Bank Limited (PSX: SMBL) at "B" from the previous rating of "D", latest press issued by VIS showed.

Outlook on the instrument rating has been placed on ‘Rating Watch-Negative’.

VIS has issued a new rating scale for hybrid Tier-1 and Tier-2 capital instruments issued by Banks under Basel III guidelines as implemented by SBP.

The rating scale captures the peculiar characteristics of the hybrid instruments in relation to their conversion/write-down features.

Copyright Mettis Link News

Related News

Name	Price/Vol	%Chg/NChg
KSE100	172,196.70 597.87M	-1.00% -1742.31
ALLSHR	102,788.51 1,289.61M	-0.98% -1012.43
KSE30	52,320.08 336.69M	-0.93% -489.89
KMI30	247,747.39 257.09M	-1.20% -3008.28
KMIALLSHR	66,763.10 586.54M	-1.14% -772.29
BKTi	48,454.24 164.11M	-0.12% -59.58
OGTi	36,330.85 30.40M	0.12% 45.27

Symbol	Bid/Ask	High/Low

Name	Last	High/Low	Chg/%Chg
BITCOIN FUTURES	76,150.00	76,265.00 76,040.00	-230.00 -0.30%
BRENT CRUDE	93.80	97.50 92.75	3.42 3.78%
RICHARDS BAY COAL MONTHLY	103.25	0.00 0.00	0.00 0.00%
ROTTERDAM COAL MONTHLY	101.40	101.40 101.40	-0.50 -0.49%
USD RBD PALM OLEIN	1,175.00	1,175.00 1,175.00	0.00 0.00%
CRUDE OIL - WTI	86.35	86.42 85.50	-1.07 -1.22%
SUGAR #11 WORLD	13.63	13.73 13.42	0.15 1.11%