KARACHI:State Bank of Pakistan renews the status of both credit rating agencies operating in Pakistan i.e. VIS Credit Rating Company Limited and Pakistan Credit Rating Agency (PACRA) Limited as recognized external credit assessment institutions (ECAIs) for the calendar year 2022.
Banks and DFIs using the standardized approach of Basel framework are allowed to use credit ratings assigned by VIS and PACRA for CAR calculation purposes, said a press release on Wednesday.