Karachi, Pakistan Credit Rating Agency PACRA upgraded long-term ratings of Allied Bank Limited to “AA+” (Double A plus) [Previous Rating: "AA"].
The short-term rating of ABL is already at highest level of “A1+” (A One plus), Rating of unsecured, listed and subordinated TFC-II (PKR 3,000 Million) has been upgraded to “AA” (Double A) [Previous Rating: "AA-"]. These denote a very low expectation of credit risk, emanating from a very strong capacity for timely payment of financial commitments, ABL said in communication Friday to Karachi Stock Exchange.
