JCR-VIS withdraws management quality rating of PICIC Asset Management Company Limited

Karachi, September 05, 2016 (PPI-OT):With the sanctioning of merger of PICIC Asset Management Company Limited (PICIC AMC) with and into HBL Asset Management Limited by the Securities and Exchange Commission of Pakistan, JCR-VIS Credit Rating Company Limited (JCR-VIS) has withdrawn the Management Quality Rating of ‘AM2’ (AM-Two) assigned to PICIC AMC. The previous rating action was announced on May 4, 2016.

For more information, contact:
Ms. Sobia Maqbool
CFA
JCR-VIS Credit Rating Company Limited
VIS House, 128/C,
25th Lane off Khayaban-e-Ittehad,
Phase VII, DHA, Karachi
Tel: +92-21-35311861-72
Fax: +92-21-35311873
Email: sobia@jcrvis.com.pk