Press Release

VIS Matures Ratings of Basel 3 Compliant Tier-II (TFC-I) Instrument of U Microfinance Bank Limited

Karachi, July 11, 2024: VIS Credit Rating Company Limited (VIS) has matured the rating assigned to TFC-I (Basel 3 Compliant Tier-II debt instrument) of U Microfinance Bank Limited (‘UMBL’ or the ‘Bank’), amounting Rs. 600.0 million. Issuance and maturity dates of the instrument were June 30, 2017 and June 30, 2024 respectively. The Bank completed its final payment on June 28, 2024. The previous rating action was announced on June 10, 2024.

For further information on this ratings announcement, please contact at 021-35311861-64 or email at info@vis.com.pk.


Applicable Rating Criteria: Policy for Suspension and Withdrawals of Ratings
https://docs.vis.com.pk/docs/policy_withdrawal.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 July 11, 2024 VIS Credit Rating Company Limited. All rights reserved. Contents may be used by news media with credit to VIS.