Press Release

JCR-VIS finalizes rating of A assigned to the proposed TFC issue of Saudi Pak Leasing Company Limited

Karachi, September 14, 2007: JCR-VIS Credit Rating Company Limited has finalized the medium to long term rating of ‘A’ (Single A) assigned to the proposed issue of listed and secured term finance certificates (TFCs) of Saudi Pak Leasing Company Limited (SPLC) following the examination of signed legal documents. Entity ratings have been reaffirmed at ‘A-/A-2’ (Single A Minus / A-Two). Outlook on the ratings is ‘Stable’.

The proposed issue of TFCs amounting to Rs. 750 million will help improve the asset/liability mis-match while also allowing the company to grow its lease portfolio. The TFC is secured by a first charge on specific lease assets.

For further information on this rating announcement, please contact the Ms. Sabeen Saleem (Ext: 608) or Ms. Sobia Maqbool (Ext: 506) at 5311861-72 (12 lines) or fax to 5311873.





Safdar Kazi
Advisor

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