JCR-VIS Credit Rating Company Limited has assigned the initial entity ratings to Elixir Securities Pakistan (Private) Limited (ESPL) at `BBB/A-3′ (Triple B/A-Three).
The outlook on the assigned ratings is stable, said the press release here on Monday.
ESPL is engaged in provision of securities brokerage (equity and fixed income) and corporate advisory services.
The company is a fully owned subsidiary of Elixir Capital (Private) Limited, which acquired total shareholding of ESPL from Patek (Private) Limited, which was a part of Dawood Group, in May 2015.
The ratings of ESPL incorporated the evolving governance structure of the company.