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There is an aggressive hunt for yield by issuance-starved investors in the Gulf
The duo were the first AT1s from the GCC since Emirates NBD's reopener in April
Books were more than double the deal's size at launch
The company is expanding outside Turkey, such as into Saudi Arabia
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Source: Asianet Pakistan
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Karachi, August 08, 2011: JCR-VIS Credit Rating Company Limited (JCR-VIS) has upgraded the medium to long-term entity rating of First Paramount Modaraba (FPM) to ‘BBB’ (Triple B) from ‘BBB - ’ (Triple B Minus). Short-term rating has been maintained at ‘A-3’ (A-Three). Outlook on ratings has been revised to ‘Stable’.
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JCR-VIS assigns local currency ratings on a national scale. Local currency rating on a national scale assumes the national government to be least risky, which is therefore implicitly assigned a 'کAAA' rating. These ratings represent an entity's ability to meet its domestic obligations in the local currency.
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JCR-VIS assigns local currency ratings on a national scale. Local currency rating on a national scale assumes the national government to be least risky, which is therefore implicitly assigned a 'کAAA' rating. These ratings represent an entity's ability to meet its domestic obligations in the local currency.
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07.08.2011, Jeddah, KSA - The Islamic Development Bank Group has approved US$ 200 million for funding a mega electricity production project in Egypt.