JCR-VIS places MQ Rating of AKD Investment Management Limited under ‘Rating Watch’

Karachi, July 15, 2013 (PPI-OT): JCR-VIS Credit Rating Company Limited (JCR-VIS) has placed the Management Quality Rating of ‘AM3-’ (AM3 Minus) assigned to AKD Investment Management Limited (AKDIML) under ‘Rating Watch Developing’ status.

The rating action has been taken in view of the approval of Scheme of Arrangement for merger/amalgamation of Pak Oman Asset Management Company Limited with and into AKDIML by the Board of Directors of AKDIML, subject to no objection and sanction by the Securities and Exchange Commission of Pakistan. Progress in this regard will be actively tracked by JCR-VIS, to assess impact of the same on the outstanding management quality rating of the institution.

For more information, contact:
Mr. Javed Callea
Advisor
JCR-VIS Credit Rating Company Limited
Tel: +9221 35311861 (10 lines) (Ext: 501)
Fax: +9221 35311872-3
E mail: javed.callea@jcrvis.com.pk

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