SBP Renews Status of Credit Rating Agencies

State Bank of Pakistan renews the status of VIS and PACRA as Eligible External Credit Assessment Institutions (ECAIs). The central bank has renewed the status of both credit rating agencies operating in Pakistan namely “VIS Credit Rating Company Limited (VIS)” and “The Pakistan Credit Rating Agency Limited (PACRA)” as eligible/recognized External Credit Assessment Institutions (ECAIs) for the calendar year 2022. “Banks and DFIs using the standardized approach of the Basel framework are allowed to use credit ratings assigned by VIS and PACRA for CAR calculation purposes,” said the statement issued by the central bank.