Press Release

VIS withdraw rating of Tier II Capital Sukuk

Karachi, December 02, 2022: VIS Credit Rating Company Limited (VIS) has withdrawn rating of ‘AA-’ (Double AA Minus) assigned to Tier II Sukuk – 1 issued by Dubai Islamic Bank Pakistan Limited’s (DIBPL) on account of call option being exercised by the Bank on December 02, 2022. The Sukuk was issued on July 14, 2017. The last rating action was announced on June 29, 2022.

For further information on this rating announcement, please contact Mr. Amin Hamdani (Ext: 217) or the undersigned (Ext: 207) at 021-35311861-70.





Sara Ahmed
Director


Applicable rating criterion: Commercial Banks Methodology –June 2020
https://docs.vis.com.pk/docs/Meth-CommercialBanks202006.pdf Rating the Issue - November 2021
https://docs.vis.com.pk/docs/Notchingtheissue202007nov.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 December 02, 2022 VIS Credit Rating Company Limited. All rights reserved. Contents may be used by news media with credit to VIS.