Press Release

VIS Reaffirms Entity Ratings of Muhammad Munir Muhammad Ahmad Khanani Securities Limited

Karachi, July 23, 2025: VIS Credit Rating Company Ltd. (VIS) has reaffirmed entity ratings of Mohammad Munir Mohammad Ahmad Khanani Securities Limited (‘MMMAKSL’ or ‘the Company’) at ‘A-/A2’ (Single A Minus/A Two). Long term rating of ‘A-’ signifies good credit quality with adequate protection factors. Risk may vary slightly from time to time because of economic conditions. Short term rating of ‘A2’ depicts good certainty of timely payment where liquidity factors are sound and good access to capital markets. Outlook on the assigned ratings is ‘Stable’. Previous rating action was announced on March 28, 2024.

MMMAKSL is a public unlisted company incorporated under the repealed Companies Ordinance, 1984 (now, Companies Act, 2017). The Company is a Trading Right Entitlement Certificate Holder of the Pakistan Stock Exchange Limited. The principal activity of the Company is to carry on the business of stock brokerage, underwriting and investment etc. and it operates a network of 24 branches across Pakistan.

The assigned ratings reflect the industry standing of MMMK, recognized among the top five brokers on the Pakistan Stock Exchange (PSX) in terms of trading volumes. The ratings also draw support from the Company’s extensive nationwide footprint, supported by a strong branch network and a sizable client base. Liquidity and capitalization profile of the Company are considered adequate, while market risk is considered elevated. Going forward, sustainability of the earning profile along with improvement in market risk, liquidity profile and capitalization profile will be important for the ratings.

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



Applicable Rating Criteria: Broker Entity Rating:
https://docs.vis.com.pk/Methodologies-2025/BrokerEntityRating.pdf
VIS Issue/Issuer Rating Scale
https://docs.vis.com.pk/docs/VISRatingScales.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 23, 2025 VIS Credit Rating Company Limited. All rights reserved. Contents may be used by news media with credit to VIS.