PACRA Publicly Disseminated Ratings As on Sep 30, 2011

Publically Disseminated Ratings of PACRA Entity Debt Instruments

A)-

Entity Rating
I)- Financial Institutions
1)- Banks a)- Commercial Banks b)- Microfinance Banks c)- Specialized Banks 2)- Non-Banking Financial Institutions a)- Asset Management b)- Brokerage/Securities c)- DFIs d)- Investment Banks f)- Leasing/Housing g)- Modarabas h)- Structured Finance 3)- Insurance

100
55
19 17 2 21 2 3 5 4 2 5 15 45 2 2 3 1 2 3 2 6 2 12 1 2 6 1

60
26
16 16 10 1 1 2 3 3 34 3 2 4 3 8 4 1 2 3 2 2 -

II)- Corporates
1)- Auto & Allied 2)- Cement 3)- Communication 4)- Chemicals 5)- Engineering 6)- Fertilizer 7)- Holding Company 8)- Oil & Gas 9)- Paper & Packaging 10)- Energy 11)- Real Estate 12)- Sugar 13)- Textile 14)- Transportation

B)-

Asset Management Rating

I)- Asset Management Companies II)- Mutual Funds
i)- Fund Performance Ranking a)- Equity Funds (Closed-End) b)- Equity Funds (Open-End) c)- Asset Allocation Funds d)- Islamic Equity Funds e)-Islamic Asset Allocation f)- Balanced Funds ii)

74
10

64
27 3 10 4 2 4 4 33 26 7 4 4

- Fund Stability Rating

a)- Income Funds b)- Money-Market Funds

iii)- Capital Protected Ratings a)- Capital Protected Funds

C)-

Real Estate Grading

Real Estate Project Total =

1
1 175 60 Grand Total = 235

60

D)-

Debt Instruments

PACRA Publicly Disseminated Ratings As on Sep 30, 2011

Sr. No. Name of Entity Date of Dissemination
PACRA

Type of Rating

PACRA

ENTITY
I)- Financial Institutions

1)- Banks a)- Commercial Banks 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 Allied Bank Ltd. Askari Bank Ltd. Bank Al Habib Ltd. Bank Alfalah Ltd. Bank Islami Pakistan Ltd. Al Baraka Bank (Pakistan) Limited Faysal Bank Ltd. First Women Bank Ltd. Habib Metropolitan Bank Ltd. JS Bank Ltd. KASB Bank Ltd. MCB Bank Ltd. NIB Bank Ltd. Soneri Bank Ltd. Standard Chartered Bank (Pakistan) Ltd. The Bank of Punjab The Bank of Khyber 5-Jul-11 21-Jun-11 14-Jun-11 20-Jun-11 30-Jun-11 30-Jun-11 30-Jun-11 30-Jun-11 30-Jun-11 13-Jul-11 29-Jun-10 4-Jul-11 29-Jun-11 27-Jun-11 30-Jun-11 30-Jun-10 30-Jun-11 17 b)- Microfinance Banks 1 2 Network Microfinance Bank Ltd. Tameer MicroFinance Bank Limited 23-May-11 2-May-11 2 c)- Specialized Banks 2)- Non-Banking Financial Institutions

Entity Entity Entity Entity Entity Entity Entity Entity Entity Entity Entity Entity Entity Entity Entity Entity Entity

AA/A1+ AA/A1+ AA+/A1+ AA/A1+ A/A1 A/A2 AA/A1+ BBB+/A2 AA+/A1+ A/A1 A-/A2 AA+/A1+ AA-/A1+ AA-/A1+ AAA/A1+ AA-/A1+ A-/A2

Entity Entity

BBB/A3 A/A1

a)- Asset Management 1 2 Arif Habib Investment Management Ltd. JS Investment Ltd. 15-Apr-11 25-May-11 2 b)- Brokerage/Securities 1 2 3 IGI Finex Securities Ltd. JS Global Capital Ltd. KASB Securities Ltd. 22-Dec-10 25-Feb-11 8-Apr-11 3 Entity Entity Entity A-/A2 AA/A1+ A/A1 Entity Entity A/A1 A+/A1

PACRA Publicly Disseminated Ratings As on Sep 30, 2011

Sr. No. Name of Entity Date of Dissemination
PACRA

Type of Rating

PACRA

c)- DFIs 1 2 3 4 5 Pak Brunei Investment Company (Pvt.) Ltd. Pak China Investment Company (Pvt.) Ltd. PAIR Investment Company (Pvt.) Ltd. Pakistan Kuwait Investment Company (Pvt.) Ltd. Pak Libya Holding Company (Pvt.) Ltd. 20-Jun-11 20-Sep-11 6-Jul-11 6-Jul-11 5-Jul-11 5 d)- Investment Banks 1 2 3 4 Escorts Investment Bank Limited First Dawood Investment Bank Ltd. IGI Investment Bank Ltd. Trust Investment Bank Ltd. 22-Sep-11 31-Dec-09 25-Jan-11 15-May-11 4 e)- Leasing/Housing 1 2 ORIX Leasing Pakistan Ltd. Standard Chartered Leasing Ltd. 14-Jan-11 25-Jan-11 2 f)- Modarabas 1 2 3 4 5 First Habib Modaraba First Fidelity Leasing Modaraba First Punjab Modaraba Modaraba Al-Mali Standard Chartered Modaraba 9-Jun-11 13-Oct-10 13-Jan-11 7-Jan-11 23-Nov-10 5 3)- Insurance 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 Adamjee Insurance Company Ltd. Adamjee Life Assurance Company Ltd. Alfalah Insurance Company Ltd. Asia Insurance Company Limited Atlas Insurance Ltd. Askari General Insurance Company Ltd. Dawood Family Takaful Ltd. East West Insurance Company Ltd. Habib Insurance Company Ltd. IGI Insurance Ltd. New Jubilee Insurance Company Ltd. Shaheen Insurance Company Ltd. State Life Insurance Corporation of Pakistan TPL Direct Insurance Company Ltd. United Insurance Company of Pakistan Ltd. 21-Jan-11 11-Jan-11 29-Aug-11 10-Feb-11 11-Jan-11 25-Jan-11 9-Sep-10 12-Apr-11 6-Jul-11 1-Dec-10 4-Feb-11 31-Dec-10 22-Feb-11 13-Apr-11 2-Feb-11 15 IFS IFS IFS IFS IFS IFS IFS IFS IFS IFS IFS IFS IFS IFS IFS AA A A BBB A+ A AAA+ AA AA AAAA AA Entity Entity Entity Entity Entity AA+/A1+ BBB/A3 A-/A2 A-/A2 AA+/A1+ Entity Entity AA/A1+ AA-/A1+ Entity Entity Entity Entity BBB-/A3 D A/A1 BBB/A3 Entity Entity Entity Entity Entity AA/A1+ AA-/A1+ AA-/A1+ AAA/A1+ AA-/A1+

PACRA Publicly Disseminated Ratings As on Sep 30, 2011

Sr. No. Name of Entity Date of Dissemination
PACRA

Type of Rating

PACRA

1)- Auto & Allied 1 2 Optimus Ltd. TPL Trakker Ltd 29-Jun-11 10-May-10 2 2)- Cement 1 2 Dewan Cement Ltd. Maple Leaf Cement Factory Ltd. 10-Nov-09 19-Sep-11 2 3)- Communication 1 2 3 Pakistan Mobile Communications Ltd. (Mobilink) Hum Network Limited WorldCall Telecom Ltd. 8-Jul-11 16-Jul-11 6-Jul-11 3 4)- Chemicals 1 Descon Oxychem Limited 8-Sep-11 1 5)- Engineering 1 2 National Power Construction Corporation (Pvt.) Ltd. Pak Elektron Ltd. 4-Jul-11 8-Jul-11 2 6)- Fertilizer 1 2 3 Engro Fertilizers Ltd. Fatima Fertilizer Company Ltd. Agritech Ltd. 14-Apr-11 8-Feb-11 31-Mar-11 3 7)- Holding Company 1 2 Engro Corporation Ltd Jahangir Siddiqui & Company Ltd. 18-Apr-11 5-Jul-11 2 8)- Oil & Gas 1 2 3 4 5 6 Attock Refinery Ltd. National Refinery Ltd. Pak-Arab Refinery Company Ltd. (PARCO) Pakistan State Oil Company Ltd. (PSO) Sui Southern Gas Company Ltd. (SSGCL) Sui Northern Gas Pipelines Ltd. (SNGPL) 7-Sep-11 9-Sep-11 29-Nov-10 13-Jan-11 28-Mar-11 7-Jan-11 6 Entity Entity Entity Entity Entity Entity AA/A1+ AAA/A1+ AAA/A1+ AA+/A1+ AA-/A1+ AA/A1+ Entity Entity AA/A1+ AA/A1+ Entity Entity Entity AA-/A1 A/A1 D Entity Entity A/A1 A-/A2 Entity A/A2 Entity Entity Entity A+/A1 A/A1 A-/A2 Entity Entity D D Entity Entity BBB+/A2 A-/A2

PACRA Publicly Disseminated Ratings As on Sep 30, 2011

Sr. No. Name of Entity Date of Dissemination
PACRA

Type of Rating

PACRA

9)- Paper & Packaging 1 2 Tri-Pack Films Ltd. Packages Ltd. 30-Dec-10 30-Jun-11 2 10)- Energy 1 2 3 4 5 6 7 8 9 10 11 12 Atlas Power Ltd. Lal Pir Power Ltd. Foundation Power Company (Dharki) Limited Pak Gen Power Ltd. Halmore Power Generation Company (Pvt.) Ltd. Hub Power Company Ltd. Nishat Chunian Power Ltd. Nishat Power Ltd. Saif Power Limited Sapphire Electric Power Company Ltd. Liberty Powertec (Pvt) Limited FFC Energy Limited 8-Apr-11 14-Apr-11 30-Jun-11 14-Apr-11 22-Jun-11 22-Apr-11 6-Apr-11 14-Apr-11 30-Dec-10 9-May-11 6-Apr-11 15-Sep-11 12 11)- Real Estate 1 PACE Pakistan Ltd. 17-Aug-11 1 12)- Sugar 1 2 Al-Abbas Sugar Mills Ltd. Shakarganj Mills Ltd. 12-Jan-11 17-Nov-09 2 13)- Textile 1 2 3 4 5 6 Azgard Nine Ltd. Fazal Cloth Mills Ltd. Nishat Mills Ltd. Prosperity Weaving Mills Sapphire Fibres Ltd. Ibrahim Fibres Limited 31-Mar-11 24-Aug-11 23-Feb-11 1-Nov-10 9-May-11 5-Jul-11 6 14)- Transportation 1 Pakistan National Shipping Corporation 3-May-11 1 19)- Miscellaneous 0 Entity AA-/A1+ Entity Entity Entity Entity Entity Entity D A-/A2 AA-/A1+ A-/A2 A/A2 AA-/A1+ Entity Entity A/A1 D Entity D Entity Entity Entity Entity Entity Entity Entity Entity Entity Entity Entity Entity AA/A1+ AA/A1+ AA-/A1+ AA/A1+ A+/A1 AA+/A1+ AA-/A1+ AA-/A1+ AA-/A1+ AA-/A1+ AA/A1+ A/A1 Entity Entity A+/A1 AA/A1+

Ratings by PACRA (Public) [1] Insurer Financial Strength Rating

100

PACRA Publicly Disseminated Ratings As on Sep 30, 2011

Sr. No.

Name of Entity

Date of Dissemination
PACRA

Type of Rating

PACRA

GRADING
1)- Real Estate 1 1 TPL Ltd (A & A Associates) 8-Jul-11 1 Project Grading Total PG3+

Ratings by PACRA (Public)

PACRA Publicly Disseminated Ratings As on Sep 30, 2011

Sr. No.

Name of Entity

Date of Dissemination
PACRA

Type of Rating

PACRA

1)- Asset Management Companies 1 2 3 4 5 6 7 8 9 10 1 2 3 4 5 6 7 8 9 10 Askari Investment Management Ltd. Alfalah GHP Investment Management Ltd. Arif Habib Investment Management Ltd. Atlas Asset Management Ltd. Dawood Capital Management Ltd. First Capital Investments Ltd. Habib Asset Management Ltd. Lakson Investments Ltd. MCB Asset Management Company Ltd. National Fullerton Asset Management Ltd. 5-Jul-11 22-Feb-11 9-Feb-11 21-Apr-11 7-Sep-11 27-Jun-11 23-Apr-11 21-Apr-11 17-Feb-11 11-Jun-11 10 Ratings by PACRA (Public) AMR AMR AMR AMR AMR AMR AMR AMR AMR AMR Total
10

AM3+ AM3 AM2 AM3AM3 AM4+ AM3AM3+ AM2AM2-

PACRA Publicly Disseminated Ratings As on Sep 30, 2011

Sr. No.

Name of Entity

Date of Dissemination PACRA

Type of Rating

PACRA

Mutual Funds

A)- Fund Ranking/Mutual Fund performance Ranking (aka Star Ranking) - FY11 1)- Equity Funds (Closed-End) 1 2 3 1 2 3 First Capital Mutual Fund Pakistan Premier Fund Limited Pakistan Strategic Allocation Fund 28-Sep-10 22-Sep-11 22-Sep-11 3 2)- Equity Funds (Open -End) 4 5 6 7 8 9 10 11 12 13 1 2 3 4 5 6 7 8 9 10 Atlas Stock Market Fund (ASMF) Alfalah GHP Alpha Fund IGI Stock Fund KASB Stock Market Fund MCB Dynamic Stock Fund Lakson Equity Fund NI(U)T NAFA Stock Fund 27-Sep-11 25-Oct-10 28-Sep-10 10-Feb-11 22-Sep-11 17-Mar-11 28-Sep-10 4-Oct-10 FR FR FR FR FR FR FR FR FR FR 5-Star/4-Star 4- Star 4-Star 2-Star/4-Star 4-Star/5-Star 3-Star 3-Star/2-Star 3-Star/1-Star 3-Star 2-Star/4-Star FR FR FR 3-Star/2-Star 3-Star/4-Star 3-Star/4-Star

Pak Oman Advantage Asset Allocation Fund / Pak Oman Advantage Stock Fund 16-Sep-11 Pakistan Stock Market Fund 22-Sep-11 10 3)- Asset Allocation Funds

14 15 16 17

1 2 3 4

Alfalah GHP Value Fund KASB Asset Allocation Fund MCB Dynamic Allocation fund Askari Asset Allocation Fund

25-Oct-10 10-Feb-11 22-Sep-11 29-Sep-10 4

FR FR FR FR

4-Star/4-Star 1-Star 4-Star/4-Star 2-Star/3-Star

4)- Islamic Equity Funds 18 19 1 2 Atlas Islamic Stock Fund 27-Sep-11 FR FR 4-Star/4-Star 5-Star

Pak Oman Islamic Asset Allocation Fund / Pak Oman Advantage Islamic 16-Sep-11 Fund 2 5)- Islamic Asset Allocation

19 20 21 22

1 2 3 4

Askari Islamic Asset Allocation Fund Alfalah GHP Islamic Fund Pakistan International Element Islamic Fund Dawood Islamic Fund

22-Mar-11 25-Oct-10 22-Sep-11 5-Jan-11 4

FR FR FR FR

4-Star 4-Star 3-Star/2-Star 2-Star/4-Star

6)- Balanced Funds 23 24 25 26 1 2 3 4 NAFA Multi Asset Fund NAFA Islamic Multi Asset Fund Pakistan Capital Market Fund First Dawood Mutual Fund 4-Oct-10 4-Oct-10 22-Sep-11 5-Jan-11 4 B) - Fund Stability Rating 1)- Income Funds 1 2 1 2 Askari Islamic Income Fund Alfalah GHP Income Multiplier Fund Askari Income Fund 2-Feb-11 10-Jan-11 FS FS FS AA-(f) BBB+(f) FR FR FR FR 3-Star/4-Star 3-Star 2-Star/3-Star 2-Star/2-Star

PACRA Publicly Disseminated Ratings As on Sep 30, 2011

Sr. No.

Name of Entity

Date of Dissemination PACRA

Type of Rating

PACRA

3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26

3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26

Atlas Income Fund Atlas Islamic Income Fund Dawood Income Fund / Dawood Money Market Fund First Habib Income Fund JS Income Fund KASB Islamic Income Opportunity Fund (Formerly KASB Islamic Income fund) KASB Income Opportunity Fund (Formerly KASB Liquid Fund) Lakson Income Fund MCB Dynamic Cash fund MetroBank-Pakistan Sovereign Fund NAFA Income Opportunity Fund (Formerly NAFA Cash Fund) NAFA Income Fund NAFA Islamic Aggressive Income Fund (Formerly NAFA Islamic Income
Fund)

28-Dec-10 28-Dec-10 23-Aug-11 24-May-11 7-Dec-10 22-Mar-11 22-Mar-11 20-Jul-11 3-Mar-11 10-Jan-11 10-Jan-11 10-Jan-11 10-Jan-11 21-Jun-11 10-Jan-11 4-Apr-11 4-Apr-11 13-Jan-11 13-Jan-11 16-Sep-11

FS FS FS FS FS FS FS FS FS FS FS FS FS FS FS FS FS FS FS FS FS FS FS FS

A+(f) AA-(f) A-(f) AA-(f) A+(f) BBB(f) BBB(f) AA-(f) A+(f) AA(f) A(f) A-(f) BBB(f) AA-(f) AA-(f) AA-(f) AA(f) AA-(f) A+(f) AA(f) BBB(f) A+(f) AA-(f) AA-(f)

NAFA Riba Free Savings Fund NAFA Savings Plus Fund NIT Income Fund NIT Govt. Bond Fund Pak Oman Advantage Fund Pak Oman Advantage Islamic Income Fund Pak Oman Government Securities Fund

IGI Aggressive Income Fund ( Formerly Pak Oman Bank of Punjab Advantage plus Fund ) 3-Mar-11 IGI Islamic Income Fund Pakistan Income Enhancement Fund Pakistan Income Fund MetroBank Pakistan Sovereign Cash Fund 26 2)- Money-Market Funds 3-Mar-11 10-Jan-11 10-Jan-11

27 28 29

1 2 3

Alfalah GHP Cash Fund Askari Sovereign Cash Fund Atlas Money Market Fund KASB Cash Fund

10-Jan-11 2-Feb-11 28-Dec-10

FS FS FS FS

AA+(f) AA+(f) AA+(f)

30 31 32 33

4 5 6 7

Lakson Money Market Fund MCB Cash Management Optimizer fund NAFA Government Securities Liquid Fund Pakistan Cash Management Fund

17-Aug-11 3-Mar-11 10-Jan-11 10-Jan-11 7

FS FS FS FS

AA(f) AA+(f) AAA(f) AAA(f)

C)- Capital Protected Ratings 1)- Capital Protected Funds 34 35 36 37 1 2 3 4 Alfalah GHP Principal Protected Fund II JS Principal Secure Fund-II JS Principal Secure Fund-I MCB Sarmaya Mahfooz Fund-I 30-Mar-11 24-Mar-11 30-Jun-11 27-Jan-11 4
FR FS CPR

CPR CPR CPR CPR

AA(cp) AA+(cp) AA (cp) AA+(cp)

Fund Ranking/Mutual Fund performance Ranking (aka Star Ranking) Fund Stability Rating Capital Protection Rating Ratings by PACRA

27 33 4 64

Notes: 1. Any rating that has been withdrawn will be shown in our list until the end of the fiscal year

PACRA Publicly Disseminated Term Finance Certificates (TFCs) Ratings As on Sep 30, 2011
Maturity Date Date of Dissemination
Amount
(PKR million)

Sr. No.

Name of Instrument Issuing Entity

Date of Issue

Tenor

Instrument

PACRA

No.of Instrument

No.of Entities

I)- Financial Institutions

1)- Banks

1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16

1 2

a)- Commercial Banks Allied Bank Ltd. Askari Bank Ltd. Askari Bank Ltd. Askari Bank Ltd.

Sep-09 Feb-05 Oct-05 Sep-09 Jul-04 Feb-07 Jun-09 Jun-11 Dec-04 Nov-05 Dec-09 Feb-05 TBI Mar-08 May-05

10 years 8 years 8 years 10 years 8 years 8 years 8 years 10 years 8 years 8 years 8 years 8 years 5.5 years 8 years 7 years 7 years

Sep-19 Feb-13 Oct-13 Aug-19 Jul-12 Feb-15 Sep-16 Jun-21 Dec-12 Nov-13 Dec-17 Feb-13 TBI Feb-16 May-12 Feb-13

05-Jul-11 21-Jun-11 21-Jun-11 21-Jun-11 14-Jun-11 14-Jun-11 14-Jun-11 14-Jun-11 20-Jun-11 20-Jun-11 20-Jun-11 30-Jun-11 29-Jun-10 29-Jun-11 27-Jun-11 30-Jun-11

3,000 1,500 1,500 3,000 1,350 1,500 2,000 2,000 1,250 1,325 5,000 800 1,250 4,000 1,200 1,000

TFCs-II TFCs-I TFCs-II TFCs-III TFCs-I TFCs-II TFCs-III TFCs-IV TFCs-II TFCs-III TFCs-IV TFCs TFCs TFCs TFCs TFCs-III

AAAAAAAAAA AA AA AA AAAAAAAABBB+ A+ A+ AAA 16

Bank Al Habib Ltd. Bank Al Habib Ltd. Bank Al Habib Ltd. Bank Al Habib Ltd.

Bank Alfalah Ltd. Bank Alfalah Ltd. Bank Alfalah Ltd.

5 6 7 8 9

Faysal Bank Ltd KASB Bank Ltd. NIB Bank Ltd. Soneri Bank Ltd.

Feb-06 Standard Chartered Bank (Pakistan) Ltd. (from Union B) b)- Microfinance Banks

0 2)- Non-Banking Financial Institutions a)- Brokerage/Securities 17 10 KASB Securities Ltd. Jun-07 5 years Jun-12 9-Feb-10 500 TFCs A+ 1 b)- DFI's 18 11 Pak Libya Holding Company (Pvt) Ltd. Feb-11 7 years Feb-18 05-Jul-11 750 TFCs AA 1 c)- Investment Banks 19 20 12 13 First Dawood Investment Bank Ltd. IGI Investment Bank Ltd. Trust Investment Bank Ltd. Jul-07 Jul-06 Jul-08 5 years 5 years 5 years Jul-12 Jul-11 Jul-13 27-Sep-10 11-Jul-11 10-May-11 345 500 600 TFCs III TFC TFC-III D WD BBB 2 d)- Leasing/Housing 21 22 23 14 Orix Leasing Pakistan Ltd. Orix Leasing Pakistan Ltd. Orix Leasing Pakistan Ltd. May-07 Jan-08 Jun-11 4 years 5 years 3 years Jun-12 Jan-13 Jun-14 14-Jan-11 14-Jan-11 31-May-11 5,000 2,500 2,000 TFCs PP-TFC TFC AA+ AA+ AA+ 3 e)- Modarabas 0 II)- Corporates 1)- Auto & Allied 24 25 26 16 15 Optimus Ltd. Optimus Ltd. TPL Trakker Ltd. Sep-07 Mar-08 Sep-07 5 years 7 years 4 years Sep-12 Mar-15 Sep-11 13-May-10 13-May-10 10-May-10 500 250 200 TFCs Sukuk TFCs A A A 3 2)- Cement 27 28 17 18 Dewan Cement Ltd. Maple Leaf Cement Factory Limtied Pre-IPO Jan-08 5 years 13.9 years Pre-IPO Nov-21 10-Nov-09 19-Sep-11 3,850 8,000 TFC-I Sukuk D D 2

PACRA Publicly Disseminated Term Finance Certificates (TFCs) Ratings As on Sep 30, 2011
Maturity Date Date of Dissemination
Amount
(PKR million)

Sr. No.

Name of Instrument Issuing Entity

Date of Issue

Tenor

Instrument

PACRA

No.of Instrument

No.of Entities

3)- Chemicals 0 4)- Communication

29 30 31 32

19

Pakistan Mobile Communications Ltd. (Mobilink) May-06 Pakistan Mobile Communications Ltd. (Mobilink) Oct-08 Nov-06 WorldCall Telecom Ltd. (from WorldCall Communications) Nov-08 WorldCall Telecom Ltd. (from WorldCall Communications)

7 years 5 years 5 years 5 years

May-13 Oct-13 Nov-11 Oct-13

08-Jul-11 08-Jul-11 06-Jul-11 06-Jul-11

3,261 6,000 350 3,838

TFCs-I TFCs-II TFCs-II TFCs-III

A+ A+ A A 4

20

5)- Engineering 33 34 35 21 22 Amreli Steels (Pvt) Ltd. Pak Electron Ltd. Pak Electron Ltd. Dec-09 Sep-07 Jun-08 7years 5 years 7 years Dec-15 Sep-14 Mar-17 31-May-11 8-Jul-11 8-Jul-11 880 1,200 1,100 Sukuk Sukuk Sukuk AA A 3 6)- Energy 36 37 23 Liberty Powertech Ltd. Liberty Powertech Ltd. Mar-09 Mar-09 12years 12years Mar-21 Mar-21 06-Apr-11 06-Apr-11 14,688 Sukuk AAAA2 7)- Fertilizer 38 39 40 41 42 43 44 45 25 24 Engro Fertilizers Ltd. Engro Fertilizers Ltd. Engro Fertilizers Ltd. Engro Fertilizers Ltd. Agritech Ltd. Agritech Ltd. Agritech Ltd. Agritech Ltd. Nov-07 Mar-08 Dec-09 Mar-08 Nov-07 Jan-08 Aug-08 Aug-08 8 years 7 years 7 years 7 years 7 years 7 years Nov-15 Oct-16 Nov-14 Jan-15 Aug-15 Aug-15 14-Apr-11 14-Apr-11 14-Apr-11 14-Apr-11 31-Mar-11 31-Mar-11 31-Mar-11 31-Mar-11 4,000 4,000 2,000 2,000 1,499 6,899 3,000 1,600 TFC-II PPTFC-I TFC-III PPTFC-II PPTFC-II PPTFC-I PPTFC-III Sukuk AA AA AA AA D D D D 8 9)- Holding Company 46 47 48 49 27 26 Engro Corporation Ltd. Engro Corporation Ltd. Jahangir Siddiqui & Company Ltd. Jahangir Siddiqui & Company Ltd. Feb-11 Feb-11 Nov-06 Jul-07 3 yrs 3 yrs 5.5 years 6 years Feb-14 Feb-14 Dec-11 Jul-13 18-Apr-11 24-May-11 05-Jul-11 05-Jul-11 4,000 3,000 1,100 1,244 TFCI TFCII TFCs-IV TFCs-V AA AA AA AA 4 10)- Oil & Gas 50 28 Sui Southern Gas Company Ltd. Dec-07 5 years Dec-12 13-Apr-11 4,700 Sukuk AA 1 11)- Paper & Packaging 0 12)- Real Estate 51 52 53 29 30 Eden Builders (Pvt) Ltd. Pace Pakistan Ltd. Pace Pakistan Ltd. Sep-08 Feb-08 Oct-09 5.4 years 5 years 3.5years Jan-14 Feb-13 Oct-13 04-May-11 15-Jun-11 17-Aug-11 468 1,500 400 Sukuk TFCs-I Sukuk A(RW) D D 3 13)- Sugar 54 55 31 32 Al-Abbas Sugar Mills Ltd. Shakarganj Mills Ltd. Nov-07 Sep-08 6 years 6 years Nov-13 Sep-14 12-Jan-11 17-Nov-09 750 630 TFC TFCs A+ D 2 14)- Textile 56 57 33 Azgard Nine Ltd. Azgard Nine Ltd. Sep-05 Dec-07 10 years 8 years Sep-15 Dec-15 31-Mar-11 31-Mar-11 2,144 2,500 TFCs TFCs(short term) D D 2 Perpetual C&P on 5yr Perpetual C&P on 5yr 1,782 Term Finance Facility

PACRA Publicly Disseminated Term Finance Certificates (TFCs) Ratings As on Sep 30, 2011
Maturity Date Date of Dissemination
Amount
(PKR million)

Sr. No.

Name of Instrument Issuing Entity

Date of Issue

Tenor

Instrument

PACRA

No.of Instrument

No.of Entities

15)- Structured Finance Financial Receivables Securitization Company Ltd. Jan-07 Spencer & Company Ltd. The City Schools (Pvt.) Ltd. Aug-10 May-11 6 years 3 years 5years Dec-13 Nov-13 May-16 25-May-11 06-Sep-11 22-Sep-11 700 1,150 TFCs (Securitised) PPTFC A+ AA A+ 3
* C&P = Call & Put Option; Perpetual in nature with 5 year call and 10 year put option; In whole or in part, through exercise of the call option by the company, or the put option by investor 60
Instruments Issuers Notes: 1. Any rating that has been withdrawn will be shown in our list until the end of the fiscal year 2. C&P means Call & Put option for 5 years
60

58 59 60

34 35 36

420 Term Finance Facility

36