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The Pakistan Credit Rating Agency Limited (“PACRA”) and Lianhe Ratings Global Limited (“Lianhe Global”), the international arm of one of China’s largest credit rating groups, have entered into a Memorandum of Understanding (“MoU”) to establish a framework for cooperation. The MoU brings together PACRA’s established presence and understanding of Pakistan’s credit markets with Lianhe Global’s international credit rating capabilities and the Lianhe Group’s significant presence and experience in China’s domestic and cross-border debt markets.
Under the MoU, PACRA and Lianhe Global intend to explore potential areas of cooperation including ESG-related rating products, assessments and methodologies; independent evaluations of green, social and sustainability-linked bonds and other instruments; joint research, thought leadership and knowledge-sharing in sustainable finance; and credit rating and related research services in connection with potential Panda Bond issuances by Pakistani sovereign and corporate issuers will also be considered.
The cooperation is expected to facilitate greater exchange of knowledge and technical expertise between the two institutions and support the development of capabilities relevant to Pakistan’s evolving debt and sustainable finance markets. In particular, the initiative provides a platform for exploring how Pakistani issuers may better understand and access emerging international financing opportunities, including the Chinese debt capital markets.
