KARACHI: VIS Credit Rating Company Limited has upgraded Broker Management Rating of Integrated Equities Limited (IEL) to ‘BMR2+’ from ‘BMR2’.
Outlook on the assigned rating is stable. The previous rating action was announced on January 11, 2021, said a press release on Friday.
The rating signifies strong HR and infrastructure and external control framework. Client services, internal control framework and compliance and risk management and regulatory requirements are considered sound, while supervision framework and financial management are adequate.
The rating upgrade takes into account recent increase in Board size along with addition of independent members, which is expected to further improve supervisory framework.
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