April 11, 2019: VIS Credit Rating Company Limited has reaffirmed the entity ratings of Next Capital Limited at single A-Minus/A-Two. The outlook on the assigned ratings is stable.

The reaffirmation of ratings incorporates established market position of NCL in the business of brokerage and corporate advisory services.

The ratings also take into account the company's diversified revenue streams which support overall business risk profile.

Moreover, profitability profile has improved during the half year of the current financial year in contrast to peers.

The ratings are constrained by weak sector dynamics and weakening in capitalisation levels since last review.

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