Karachi, December 15, 2016: JCR-VIS Credit Rating Company Ltd. has placed the Management Quality (MQ) Rating of ‘AM3+’ (AM-Three Plus) assigned to Primus Investment Management Limited (PIML), under ‘Rating Watch - Developing’ status on account of the public notice issued by PIML on December 14, 2016, highlighting sale of 70% shareholding by Pak Brunei Investment Company Limited to Army Welfare Trust, subject to regulatory approvals. The previous rating action was announced on December 31, 2015.
For further information on this rating announcement, please contact the undersigned (Ext: 207) or Jazib Ahmed - CFA (Ext: 215) at 021-35311861-71 or fax to 021-35311872-3.
Jamal Abbas Zaidi
Applicable Rating Criteria: Asset Management Companies (March, 2016)
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