VIS upgrades management quality rating of FAML

MG News | June 25, 2019 at 12:10 AM GMT+05:00

0:00

Jun 24: VIS Credit Rating Company Limited has upgraded the management quality rating of Faysal Asset Management Limited to AM-Three Plus from AM-Three.

The rating signifies asset manager exhibiting good management characteristics. Outlook on the assigned rating has been revised from Rating Watch - Developing status to Positive.

The previous rating action was announced on March 19, 2018, said a press release on Monday.

The rating upgrade derives strength from the recent equity injection of Faysal Bank Limited in FAML. In November 2018, FBL acquired majority stake of 99.99% in FAML. As a result, all strategic plans and decision making emanate from a single dedicated sponsor.

Improvement in organisational structure and control framework along with inductions in management team have been observed; further changes in this regard will be monitored over time.

APP

Related News

Name	Price/Vol	%Chg/NChg
KSE100	159,592.91 216.91M	0.31% 496.12
ALLSHR	97,116.33 768.06M	0.46% 445.03
KSE30	48,297.58 106.33M	0.31% 148.84
KMI30	228,607.02 68.07M	0.59% 1329.76
KMIALLSHR	63,247.23 258.39M	0.62% 387.33
BKTi	44,604.42 43.32M	0.63% 277.31
OGTi	30,819.67 8.30M	0.93% 283.08

Symbol	Bid/Ask	High/Low

Name	Last	High/Low	Chg/%Chg
BITCOIN FUTURES	104,160.00	104,220.00 99,425.00	2950.00 2.91%
BRENT CRUDE	63.70	64.39 63.23	0.32 0.50%
RICHARDS BAY COAL MONTHLY	87.25	0.00 0.00	0.10 0.11%
ROTTERDAM COAL MONTHLY	96.75	96.75 96.75	-0.20 -0.21%
USD RBD PALM OLEIN	1,082.50	1,082.50 1,082.50	0.00 0.00%
CRUDE OIL - WTI	59.84	60.46 59.32	0.41 0.69%
SUGAR #11 WORLD	14.13	14.37 14.07	-0.06 -0.42%