Press Release

VIS Matures HBL’s Tier-2 TFC ratings

Karachi, June 18, 2021: VIS Credit Rating Company Limited (VIS) has matured the rating of existing Basel III compliant Tier 2 TFC of HBL (issued in February 2016) since the Bank has exercised the available call option on the instrument post completion of five years from the issue date. The instrument stands fully redeemed as on February’2021 and has been delisted from the Pakistan Stock Exchange. Previous rating action was announced on June 30, 2020.

For further information on this rating announcement, please contact Ms. Asfia Aziz or the undersigned (Ext. 306) at 021-35311861-70 or email at info@vis.com.pk.

Faryal Ahmad Faheem
Deputy CEO

Applicable rating criterion: Commercial Banks Methodology -June 2020
https://s3-us-west-2.amazonaws.com/backupsqlvis/docs/Meth-CommercialBanks202006.pdf

Information herein was obtained from sources believed to be accurate and reliable; however, VIS Credit Rating Company Limited (VIS) does not guarantee the accuracy, adequacy or completeness of any information and is not responsible for any errors or omissions or for the results obtained from the use of such information. VIS, the analysts involved in the rating process and members of its rating committee do not have any conflict of interest relating to the rating(s)/ranking(s) mentioned in this report. VIS is paid a fee for most rating assignments. This rating/ranking is an opinion and is not a recommendation to buy or sell any securities. Copyright June 18, 2021 VIS Credit Rating Company Limited. All rights reserved. Contents may be used by news media with credit to VIS.