Press Release

VIS Harmonizes Ratings of Tier-II Instruments of Khushhali Microfinance Bank Limited

Karachi, August 18, 2023: VIS Credit Rating Company Limited has issued a new Rating Scale for hybrid Tier-1 and Tier-2 capital instruments issued by Banks, under Basel III guidelines as implemented by SBP. The rating scale captures the peculiar characteristics of the hybrid instruments in relation to their conversion/write down features. Accordingly, the ratings of outstanding Tier-2, TFC-1 and TFC-2 of Khushhali Microfinance Bank Limited (KMBL) have been harmonized at ‘B’ (Single B). Assigned instrument rating of ‘B’ denotes that payments are not being made as per original schedule. Future performance is less likely. The instrument rating has been placed on ‘Rating Watch-Negative’. Previous rating action was announced on April 28, 2023.

For further information on this rating announcement, please contact Ms. Maham Qasim (042-35723411-13, Ext. 8005) and/or the undersigned at 021-35311861-64 (Ext. 207) or email at

Sara Ahmed

Applicable rating criterion:

Micro-finance Banks (June 2019)

Rating Scale

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