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The Saudi company's deal offered little — if any — new issue premium, says leads
The country's curve has rallied since the US and Iran agreed on a peace MoU
Most of the demand came from local investors, as one banker expected
Price was 'way off' fair value, according to a source on the deal
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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.
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Manama, Bahrain: Islamic Bank today announced a net profit of $5.1 million for the first half-year of 2011, 264% higher than last year.