Name Date Rating Type Long Term Short Term Outlook Action
FDM Capital Securities (Pvt.) Ltd 8/5/2021 BFR BFR3    Stable Initial
EFU Life Assurance Limited 8/4/2021 IFS AA+    Stable Reaffirmed
Novatex Limited 7/29/2021 Entity AA    A-1+ Stable Reaffirmed
Haleeb Foods Limited 7/29/2021 Entity A-    A-2 Negative Reaffirmed
Deharki Sugar Mills (Pvt) Limited 7/27/2021 Entity A-    A-2 Stable Reaffirmed
JDW Sugar Mills Ltd 7/27/2021 Entity A    A-2 Stable Reaffirmed
Arif Habib Limited 7/27/2021 Entity AA-    A-1 Stable Reaffirmed
Muhammad Shafi Tanneries Pvt. Ltd 7/26/2021 Entity A-    A-2 Negative Maintained
Shahbaz Garments Private Limited 7/26/2021 Entity A-    A-2 Stable Upgrade
K-Electric Limited 7/26/2021 ICP-20    A-1+ Preliminary

Informed Investment Decision Making Along CPEC