VIS upgrades management quality rating of FAML

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

Add Mettisglobal as a Trusted Source on Google

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	181,398.22 445.72M	0.49% 887.19
ALLSHR	109,207.09 1,229.93M	0.60% 651.22
KSE30	54,098.50 207.37M	0.48% 257.23
KMI30	258,982.79 206.69M	0.63% 1632.68
KMIALLSHR	70,885.99 618.36M	0.67% 471.82
BKTi	49,433.60 45.14M	-0.05% -23.01
OGTi	37,143.87 18.42M	0.59% 217.29

Symbol	Bid/Ask	High/Low

Name	Last	High/Low	Chg/%Chg
BITCOIN FUTURES	64,935.00	66,160.00 64,825.00	-765.00 -1.16%
BRENT CRUDE	79.10	79.57 77.75	0.14 0.18%
RICHARDS BAY COAL MONTHLY	123.00	0.00 0.00	7.50 6.49%
ROTTERDAM COAL MONTHLY	125.50	0.00 0.00	-0.40 -0.32%
USD RBD PALM OLEIN	1,157.50	1,157.50 1,157.50	0.00 0.00%
CRUDE OIL - WTI	75.37	76.06 74.09	0.10 0.13%
SUGAR #11 WORLD	14.24	14.33 14.22	-0.07 -0.49%