JCR-VIS places MQ Rating of Pak Oman Asset Management Company 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-’ (AM-Three Minus) assigned to Pak-Oman Asset Management Company Limited (POAMCL), under ‘Rating Watch Developing’ status.

The rating action has been taken in view of the approval of Scheme of Arrangement for merger/amalgamation of POAMCL with and into AKD Investment Management Limited (AKDIML) by the Board of Directors of POAMCL, 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.

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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