Press Release

Update on Broker Fiduciary Rating of AKD Securities Limited

Karachi, July 4, 2022: VIS Credit Rating Company Ltd. (VIS) notes that Sindh High Court has sanctioned the merger of AKD Securities Limited (AKDSL) with and into BIPL Securities Limited (BIPLS).

Outstanding broker fiduciary rating of AKDSL at ‘BFR2++’ with Rating Watch-Positive outlook will remain effective till operational merger takes into effect and/ or surrender of Trading Right Entitlement Certificate (TREC) whichever comes earlier. Previous rating action was announced on May 27, 2022.


For further information on this rating announcement, please contact Ms. Sara Ahmed or the undersigned (Ext: 207) at (021) 35311861-66 or email at info@vis.com.pk


Sara Ahmed
Director

Applicable rating criteria:
https://docs.vis.com.pk/docs/BrokerFiduciary012021.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 04, 2022 VIS Credit Rating Company Limited. All rights reserved. Contents may be used by news media with credit to VIS.