PACRA reaffirms credit rating of PMIC

PACRA reaffirms credit rating of PMIC

The Pakistan Credit Rating Agency (PACRA) has maintained the long term and short term entity ratings of Pakistan Microfinance Investment Company (PMIC) at 'AA' (Double A) and 'A1+' (A One Plus) respectively. The rating reflects strong equity base, well-conceived business plans and strong ownership structure. 

The ratings denote a very low expectation of credit risk emanating from a very strong capacity for timely payment of financial commitments which is not significantly vulnerable to foreseeable events.

PMIC, incorporated in 2016, is licensed to carry out investment finance services as a Non- Banking Finance Company (NBFC) under the NBFC Rules, 2003 and NBFC Regulations 2008. The strong sponsors, Pakistan Poverty Alleviation Fund (49%), Karandaaz (38%) and KfW, a german development Bank (13%) strengthen the financial profile of PMIC.