Press Release

JCR-VIS Suspends Rating of KASB Funds Limited

Karachi, October 21, 2015: JCR-VIS Credit Rating Co. Ltd. (JCR-VIS) has suspended the Management Quality (MQ) rating of KASB Funds Limited (KFL) with immediate effect. KFL was assigned a MQ rating of ‘AM3’ (AM-Three) placed under ‘Rating Watch Developing’ status, announced on May 29, 2015.

Moreover, Fund Stability Ratings of KASB Cash Fund (AA(f)), KASB Income Opportunity Fund (BB+(f)) and KASB Islamic Income Opportunity Fund (BBB-(f)) are also being suspended. Previous rating actions of the same were announced on February 16, 2015.

The suspension is on account of prevailing uncertainty of future ownership of the management company as well as the non-availability of sufficient information currently required for the assessment of ratings. Ratings will be re-assessed as and when the issue is resolved.

For further information on this rating announcement, please contact Mr. Jamal Abbas Zaidi (Ext: 516) or Mr. Javed Callea (Ext: 501) at 35311861-3 or fax to 35311872.


Mohammed Khalid Ali
Advisor

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