Regulatory Alerts2026-07-31
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Asset Manager Rating Criteria
PACRA defines an Asset Manager Rating scale ranging from AM1 (Very high quality) to AM5 (Weak), with intermediate grades including AM2++, AM2+, AM2, AM3++, AM3+, AM3, AM4++, AM4+, and AM4. The framework establishes rating modifiers such as Stable, Positive, Negative, and Developing outlooks, alongside Rating Watch alerts for potential changes. It specifies that a suspended rating is considered withdrawn if not resumed within six months, and outlines withdrawal conditions including mandate termination, debt redemption, or default. Surveillance is conducted on an ongoing basis with comprehensive reviews at least every six months.
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