KARACHI, April 25: JCR-VIS Credit rating Company Limited has assigned a preliminary medium to long-term rating of ‘A’ (Single A) with a ‘stable’ outlook to the proposed secured and privately placed issue of term finance certificates (TFCs) of Kashf Foundation. JCR-VIS has also reaffirmed the entity ratings at ‘BBB+/A-3’with a ‘Stable’ outlook, says a press release.

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JCR-VIS Credit Rating Company Limited has reaffirmed the medium to long-term ratings of The First MicroFinance Bank Limited (FMFB) at ‘A+’ (Single A-plus) and short-term ratings at ‘A-1+’ (A-One Plus). Outlook on the rating has remained ‘Stable’.

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JCR-VIS Credit Rating Company has reaffirmed the Management Quality rating of Al-Meezan Investment Management Limited (AMIML) at ‘AM-2’ denoting ‘high management quality’. The fund performance ranking of Meezan Islamic Fund (MIF) for the two-year period ended December 31, 2006 has been assessed at ‘MFR 5-Star’, which denotes ‘very good performance’ vis-à-vis other open-end Islamic stock funds, says a press release.