Press Release

VIS Withdraws Broker Fiduciary Rating of AKD Securities Limited

Karachi, December 08, 2022: VIS Credit Rating Company Ltd. (VIS) has withdrawn the Broker Fiduciary Rating of BFR2++ with ‘Rating Watch-Positive’ outlook assigned to AKD Securities Limited (AKDSL). Ratings stand withdrawn on account of AKDSL’s merger with and into BIPL Securities (BIPLS). The new entity has been renamed to AKD Securities Limited (formerly BIPL Securities Limited). Previous rating action was announced on July 4, 2022.

For further information on this rating announcement, please contact Ms. Syeda Batool Zehra Zaidi (Ext: 210) or the undersigned (Ext: 306) at (021) 35311861-66 or email at info@vis.com.pk.



Faryal Ahmad
Deputy CEO

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 December 08, 2022 VIS Credit Rating Company Limited. All rights reserved. Contents may be used by news media with credit to VIS.