JCR-VIS assigns entity ratings to Dawood Equities Limited

Karachi, December 15, 2015 (PPI-OT): JCR-VIS Credit Rating Company Ltd. (JCR-VIS) has assigned initial entity ratings to Dawood Equities Limited (DEL) of ‘BB+/A-3’ (Double B Plus/A-Three). Outlook on the assigned ratings is ‘Stable’.

Ratings assigned to DEL take into account limited scale of operations of the company by way of equity brokerage services to domestic clients only. The ratings also reflect limited underwriting capacity, low revenue stream and small equity base in relation to other industry players.

Revenue base of the company largely comprises earnings from equity brokerage through retail investors along with support from capital gains on investments. Going forward, management envisages diversifying business operations in order to improve stability of earnings.

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