Credit rating of Prime Bank upgraded
Credit Rating Information Services Ltd (CRISL) has upgraded the credit rating of Prime Bank Ltd to 'AA' from 'A+' in its long-term scales while reaffirmed 'ST-2' rating for the short-term obligations of the bank, says a press release. These letter ratings are claimed to be the highest ratings earned so far by any local private commercial bank based on its fundamentals. The upgradation is attributable to the bank's growth rate, improvement in profitability, asset quality and non-funded business as on December 31, 2006.
|
|
