Karachi—JCR-VIS Credit Rating Company Limited has upgraded the entity ratings of NRSP Microfinance Bank Limited (NRSPB) to ‘A/A-1’ (Single A /A-One) from ‘A-/A-2’ (Single A Minus/ A-Two). The rating of Privately Placed Term Finance Certificate (PPTFC) has also been upgraded to ‘A’ (Single A).
The outlook on the assigned rating is Stable, said press release on Friday. The previous rating action on entity and PPTFC rating was announced on April 21, 2016 and September 21, 2016 respectively. The ratings assigned to NRSPB takes account growing market share of the institution and sustained improvement across key performance areas including asset quality, liquidity and internal capital generation. NRSPB is the third largest microfinance bank in the country