State Bank of Pakistan has renewed the status of two credit rating agencies operating in Pakistan as Eligible External Credit Assessment Institutions. According to statement issued here Wednesday, the central bank renewed status of both the credit rating agencies namely “VIS Credit Rating Company Limited (VIS)” and “The Pakistan Credit Rating Agency Limited (PACRA)” as eligible / recognized External Credit Assessment Institutions (ECAIs) for the calendar year 2021. The SPB has allowed banks and DFIs using the standardized approach of Basel framework to use credit ratings assigned by VIS and PACRA for CAR calculation purposes.