Press Release

VIS withdraw rating of Tier II Capital Sukuk

Karachi, December 02, 2022: VIS Credit Rating Company Limited (VIS) has withdrawn rating of ‘AA-’ (Double AA Minus) assigned to Tier II Sukuk – 1 issued by Dubai Islamic Bank Pakistan Limited’s (DIBPL) on account of call option being exercised by the Bank on December 02, 2022. The Sukuk was issued on July 14, 2017. The last rating action was announced on June 29, 2022.

For further information on this rating announcement, please contact Mr. Amin Hamdani (Ext: 217) or the undersigned (Ext: 207) at 021-35311861-70.





Sara Ahmed
Director


Applicable rating criterion: Commercial Banks Methodology –June 2020
https://docs.vis.com.pk/docs/Meth-CommercialBanks202006.pdf Rating the Issue - November 2021
https://docs.vis.com.pk/docs/Notchingtheissue202007nov.pdf

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