Triple B Plus assigned to Pakistan Industrial Credit and Investment Company

Karachi, April 07, 2016 (PPI-OT):JCR-VIS Credit Rating Company Limited has placed the IFS rating of ‘BBB+’ (Triple B Plus) assigned to PICIC Insurance Limited (PIL), under ‘Rating Watch – Developing’ status on account of the public notice issued by Crescent Star Insurance Limited on April 06, 2016, highlighting its prospective merger with PIL. The previous rating action was announced on December 22, 2014.

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