Pakistan Credit Rating Agency Limited’s updates on Asset Management Rating of National Bank of Pakistan Fullerton Asset Management Limited

Lahore, July 04, 2016 (PPI-OT):NBP Fullerton Asset Management Limited (NAFA) has an AMC rating of “AM2++” (AM2 Double Plus). The rating was last updated in Mar 2016. Lately the company had to face an unfortunate incident of fire at its head- office situated in Karachi. This affected the company’s operations, causing some delay in announcement of NAVs.

Other operational and investment activities have been streamlined through alternatives arrangements. The management is making concerted efforts to bring the operational capacity to the previous levels. In the meantime, the AMC rating will remain under Watch. PACRA is monitoring related developments and will update its rating opinion accordingly.

For more information, contact:
Hammad Rashid
The Pakistan Credit Rating Agency Limited (PACRA)
Awami Complex, FB1, Usman Block New Garden Town,
Lahore – Pakistan
Tel: +9242 586 9504 -6
Fax: +9242 583 0425