The Pakistan Credit Rating Agency, known as PACRA, was established August 18, 1994 as a joint venture among the international rating agency then known as IBCA Ratings (now part of Fitch Ratings), the International Finance Corporation, and the Lahore Stock Exchange's financial services arm, becoming Pakistan's first credit rating agency. It issued its first rating opinion within three months of formation and drew on its technical partnership with Fitch to build its rating methodology, and it has since issued more than 8,500 rating opinions spanning over ten financial sectors and more than 45 corporate sectors.
Facts
Founding Year Founding Date Headquarters Classification
Institution Subtype Geography
Country or Jurisdiction Served Sources
1. PACRA: About Us (pacra.com)
Pakistan Credit Rating Agency (PACRA)About Us page, overview paragraph
PACRA was established in 1994 as a joint venture among Fitch Ratings (the world's leading international rating agency, at that time IBCA Ratings), International Finance Corporation (IFC) and the Lahore Stock Exchange (LSE).
About Us page, history timeline
This agreement heralded the creation of Pakistan’s first credit rating agency, the Pakistan Credit Rating Agency Limited (PACRA) on August 18, 1994.
Who We Are
Today, PACRA is recognized as a national rating agency by apex regulators of the country, the Securities and Exchange Commission of Pakistan and an external credit assessment institution (ECAI) by the State Bank of Pakistan.
Introduction, institution-subtype
The Pakistan Credit Rating Agency, known as PACRA, was established August 18, 1994 as a joint venture among the international rating agency then known as IBCA Ratings (now part of Fitch Ratings), the International Finance Corporation, and the Lahore Stock Exchange's financial services arm, becoming Pakistan's first credit rating agency.
In Group: Credit Rating Agencies of South Asia, Page text
This agreement heralded the creation of Pakistan's first credit rating agency, the Pakistan Credit Rating Agency Limited (PACRA) on August 18, 1994.
View the Source 2. Pakistan Credit Rating Agency (TheOrg Company Profile)
TheOrgOffices section, HQ descriptionQuote, Offices section, HQ description
The Pakistan Credit Rating Agency Limited [PACRA]'s headquarters in Lahore, Pakistan
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