Rating History: Quaid-e-Azam Thermal Power (Pvt) Limited
| Company Name | Date | Rating Type | Long Term | Short Term | Outlook/Rating Watch | Action | 
|---|---|---|---|---|---|---|
| 
                                    Quaid-e-Azam Thermal Power (Pvt) Limited
                                    
                                 | 09/10/2025 | Entity | AA+ | A1+ | Stable | Reaffirmed | 
| 
                                    Quaid-e-Azam Thermal Power (Pvt) Limited
                                    
                                 | 09/23/2024 | Entity | AA+ | A1+ | Stable | Upgrade | 
| 
                                    Quaid-e-Azam Thermal Power (Pvt) Limited
                                    
                                 | 08/23/2023 | Entity | AA | A1 | Stable | Reaffirmed | 
| 
                                    Quaid-e-Azam Thermal Power (Pvt) Limited
                                    
                                 | 06/30/2022 | Entity | AA | A1 | Stable | Reaffirmed | 
| 
                                    Quaid-e-Azam Thermal Power (Pvt) Limited
                                    
                                 | 05/24/2021 | Entity | AA | A1 | Stable | Reaffirmed | 
| 
                                    Quaid-e-Azam Thermal Power (Pvt) Limited
                                    
                                 | 04/28/2020 | Entity | AA | A1 | Stable | Downgrade | 
| 
                                    Quaid-e-Azam Thermal Power (Pvt) Limited
                                    
                                 | 07/04/2019 | Entity | AA | A1+ | Stable | Reaffirmed | 
| 
                                    Quaid-e-Azam Thermal Power (Pvt) Limited
                                    
                                 | 07/04/2018 | Entity | AA | A1+ | Stable | Reaffirmed | 
| 
                                    Quaid-e-Azam Thermal Power (Pvt) Limited
                                    
                                 | 10/31/2017 | Entity | AA | A1+ | Stable | Reaffirmed | 
| 
                                    Quaid-e-Azam Thermal Power (Pvt) Limited
                                    
                                 | 04/06/2017 | Entity | AA | A1+ | Stable | Reaffirmed | 
| 
                                    Quaid-e-Azam Thermal Power (Pvt) Limited
                                    
                                 | 04/19/2016 | Entity | AA | A1+ | Stable | Initial |