Ratings
Name Date Rating Type Long Term Short Term Outlook/Rating Watch Action Sector
DJM Securities Limited
20-06-2025 BFR BFR3 --- Stable Under Review Brokerage & Securities Firms
DJM Securities Limited
20-06-2025 BMR BMR3+ --- Stable Under Review Brokerage & Securities Firms
JK Sugar Mills (Pvt) Limited
20-06-2025 Entity A- A2 Stable Upgrade Sugar
Tech Sirat (Pvt) Limited
20-06-2025 Entity BBB+ A2 Stable Reaffirmed Storage and Distribution
Pak-Qatar Family Takaful Limited
20-06-2025 IFS A++ (IFS) --- Stable Under Review Insurance
LSE Financial Services Limited
20-06-2025 Entity A A1 Rating Watch - Developing Under Review NBFCs
Sherman Securities (Private) Limited
19-06-2025 BMR BMR2 --- Stable Initial Brokerage & Securities Firms
Master Textile Mills Limited
19-06-2025 Entity A+ A1 Stable Reaffirmed Textiles
Amazon Mall (Pvt) Limited
19-06-2025 Entity A- A2 Stable Initial Cement & Construction
United Bank Limited (Formerly Silkbank Limited TFC-1)
19-06-2025 TFC-6 AAA --- Stable Final Commercial Banks
Chase Securities Pakistan (Pvt) Limited
18-06-2025 BFR BFR3+ --- Stable Reaffirmed Brokerage & Securities Firms
Shahbaz Garments (Pvt) Limited
18-06-2025 Entity A- A2 Stable Reaffirmed Textiles
Fortune Securities Limited
18-06-2025 BMR BMR2 --- Stable Reaffirmed Brokerage & Securities Firms
18-06-2025 Entity BBB+ A2 Stable Reaffirmed Modarabas
Alliance Sugar Mills (Pvt) Limited
17-06-2025 Entity A- A2 Stable Reaffirmed Sugar
Insight Securities (Pvt) Ltd
16-06-2025 BMR BMR2 --- Stable Reaffirmed Brokerage & Securities Firms
Geo Entertainment Television (Pvt) Limited
13-06-2025 TFC AA- (plim) --- Stable Preliminary Miscellaneous
Pakistan Telecommunication Company Limited
13-06-2025 STS-12 --- A1+ (plim) --- Preliminary Communication
Mannan Shahid Forgings Limited
13-06-2025 Entity A A2 Stable Reaffirmed Engineering
Saya Weaving Mills (Pvt) Limited
12-06-2025 Entity A- A2 Stable Reaffirmed Textiles
Multan Chemicals Limited
10-06-2025 Entity A- A1 Stable Initial Medical and Pharmaceutical
05-06-2025 STS-32 --- A1+ (plim) --- Preliminary Power Companies
Shahtaj Sugar Mills Limited
05-06-2025 Entity A- A2 Stable Reaffirmed Sugar
Premium Textile Mills Limited
03-06-2025 Entity A- A2 Stable Reaffirmed Textiles
Izhar Construction (Pvt) Limited
02-06-2025 Entity A A1 Stable Reaffirmed Cement & Construction
Rafi Securities (Pvt) Limited
02-06-2025 BFR BFR3 --- Stable Initial Brokerage & Securities Firms
Sitara Chemical Industries Limited
02-06-2025 Entity A+ A2 Stable Reaffirmed Chemicals
Mughal Iron & Steel Industries Limited
30-05-2025 Sukuk 5 AA- --- Stable Final Steel & Allied Products
Topline Securities Limited
29-05-2025 BFR BFR2 --- Stable Reaffirmed Brokerage & Securities Firms
Topline Securities Limited
29-05-2025 BMR BMR2++ --- Stable Reaffirmed Brokerage & Securities Firms
The United Insurance Company of Pakistan Limited
27-05-2025 IFS AA+ (IFS) --- Rating Watch - Developing Maintained Insurance
Staple Foods Private Limited
26-05-2025 Entity A A1 Stable Reaffirmed Consumer Goods
26-05-2025 Entity AA- A1 Stable Maintained Brokerage & Securities Firms
Rural Community Development Programs
26-05-2025 Entity BBB+ A3 Stable Reaffirmed NBFCs
23-05-2025 Entity BBB+ A2 Stable Reaffirmed Paper & Packaging
DAMEN Support Programme
23-05-2025 Entity BBB- A3 Stable Reaffirmed NBFCs
EMCO Industries Limited
23-05-2025 Entity A- A2 Stable Reaffirmed Engineering
Khalid Shafique Spinning Mills Limited
22-05-2025 Entity BBB+ A2 Stable Reaffirmed Textiles
Century Paper & Board Mills Limited
22-05-2025 Entity AA- A1 Stable Reaffirmed Paper & Packaging
The Crescent Textile Mills Limited
21-05-2025 Entity A- A2 Negative Reaffirmed Textiles
Service Sales Corporation (Pvt) Limited
21-05-2025 Entity A- A2 Stable Under Review Miscellaneous
Burj Clean Energy Modaraba
21-05-2025 STS --- A1 (plim) --- Preliminary NBFCs
Mehboob Steel Pipe Industry
21-05-2025 Entity BBB A2 Stable Reaffirmed Steel & Allied Products
Geo Entertainment Television (Pvt) Limited
21-05-2025 Entity A A2 Stable Initial Miscellaneous
Gatron (Industries) Limited
19-05-2025 Entity A- A2 Stable Under Review Textiles
19-05-2025 Entity A+ A1 Stable Reaffirmed Power Companies
Feroze 1888 Mills Limited
19-05-2025 Entity AA- A1 Stable Reaffirmed Textiles
First Credit and Investment Bank Limited
16-05-2025 Entity A A1 Stable Upgrade Investment Banks
Deharki Sugar Mills (Pvt) Limited
16-05-2025 Entity A A2 Stable Reaffirmed Sugar
16-05-2025 Entity AA- A1 Stable Reaffirmed Sugar
Integrated Equities Limited
14-05-2025 BFR BFR2 --- Stable Upgrade Brokerage & Securities Firms
14-05-2025 Sukuk 1 AA- (plim) --- Stable Preliminary NBFCs
14-05-2025 Entity A+ A1 Stable Initial NBFCs
Alpha Insurance Company Limited
14-05-2025 IFS A+ (IFS) --- Stable Reaffirmed Insurance
13-05-2025 STS-31 --- A1+ --- Final Power Companies
Artistic Energy (Pvt) Ltd
12-05-2025 Entity A+ A1 Positive Maintained Power Companies
Ashraf Sugar Mills Limited
12-05-2025 Entity A- A2 Stable Reaffirmed Sugar
Artistic Wind Power Pvt Ltd
12-05-2025 Entity A A2 Stable Reaffirmed Power Companies
LOLC Microfinance Bank Limited (Formerly: Pak Oman Microfinance Bank Limited)
12-05-2025 Entity A- A2 Stable Reaffirmed Micro Finance
Orient Electronics (Pvt) Limited
09-05-2025 Entity A- A2 Stable Maintained Engineering
Arshad Corporation (Pvt) Ltd
09-05-2025 Entity A- A2 Stable Reaffirmed Textiles
Transsion Tecno Electronics (Pvt) Limited
07-05-2025 Entity A- A2 Stable Reaffirmed Miscellaneous
Adam Sugar Mills Limited
07-05-2025 Entity A- A2 Stable Reaffirmed Sugar
Suraj Cotton Mills Limited
07-05-2025 Entity A+ A1 Stable Reaffirmed Textiles
International Textile Limited
06-05-2025 Entity A A2 Stable Reaffirmed Textiles
Best Fibres (Pvt) Ltd
06-05-2025 Entity A- A2 Positive Reaffirmed Textiles
Mobilink Microfinance Bank Limited
05-05-2025 Entity A A1 Stable Reaffirmed Micro Finance
NRSP Micro Finance Bank Ltd
05-05-2025 Entity A- A2 Stable Reaffirmed Micro Finance
05-05-2025 STS-2 --- A1 (plim) --- Preliminary Consumer Goods
MRA Securities Limited
02-05-2025 Entity A- A2 Stable Reaffirmed Brokerage & Securities Firms
Sindh Microfinance Bank Limited
30-04-2025 Entity A A1 Stable Reaffirmed Micro Finance
Halan Microfinance Bank Limited (Formerly: Advans Pakistan Microfinance Bank Ltd)
30-04-2025 Entity BBB A3 Positive Reaffirmed Micro Finance
Pakistan Telecommunication Company Limited
30-04-2025 STS-11 --- A1+ --- Final Communication
Artistic Denim Mills Ltd
30-04-2025 Entity A- A2 Stable Reaffirmed Textiles
30-04-2025 Entity A+ A1 Stable Reaffirmed Power Companies
HBL Microfinance Bank Limited
30-04-2025 Entity A+ A1 Stable Reaffirmed Micro Finance
Muhammad Munir Muhammad Ahmed Khanani Securities Limited
29-04-2025 BMR BMR2 --- Negative Maintained Brokerage & Securities Firms
Ittehad Chemicals Limited
29-04-2025 Entity A- A2 Positive Maintained Chemicals
Sherman Securities (Private) Limited
29-04-2025 BFR BFR3++ --- Stable Upgrade Brokerage & Securities Firms
Burj Clean Energy Modaraba
28-04-2025 Entity A A1 Stable Initial NBFCs
Z.A Corporation (Pvt) Ltd
28-04-2025 Entity BBB+ A2 Stable Reaffirmed Textiles
25-04-2025 Entity A A1 Stable Reaffirmed Textiles
Pakistan Mortgage Refinance Company
24-04-2025 Entity AAA A1+ Stable Reaffirmed DFIs
Sitara Chemical Industries Limited
24-04-2025 Sukuk 1 AA- --- Stable Reaffirmed Chemicals
Tower Power (Pvt) Limited
24-04-2025 Entity A- A2 Stable Reaffirmed Communication
CSC Empowerment & Inclusion Programme (MFI)
23-04-2025 Entity BBB- A3 Stable Reaffirmed Micro Finance
Tariq Corporation Limited
23-04-2025 Entity BBB A3 Stable Reaffirmed Sugar
Darson Securities (Pvt) Limited
22-04-2025 BFR BFR3+ --- Stable Reaffirmed Brokerage & Securities Firms
22-04-2025 STS --- A1 --- Final Sugar
Umar Spinning Mills (Pvt) Limited
22-04-2025 Entity BBB+ A2 Stable Reaffirmed Textiles
Two Star Industries (Pvt) Limited
21-04-2025 Entity BBB+ A2 Negative Maintained Sugar
Lucky Knits (Pvt) Limited
18-04-2025 Entity A- A1 Stable Reaffirmed Textiles
Shahkam Industries (Pvt) Ltd
18-04-2025 Entity A- A2 Stable Initial Textiles
Ali Gohar & Company (Pvt) Ltd
17-04-2025 Entity A A2 Stable Reaffirmed Storage and Distribution
17-04-2025 Entity A A1 Stable Upgrade Consumer Goods
Zoom Petroleum (Pvt) Limited
17-04-2025 Entity BBB- A3 Stable Reaffirmed Oil & Gas
Zoom Marketing Oils (Pvt) Limited
17-04-2025 Entity BBB- A3 Positive Reaffirmed Oil & Gas
Biotech Energy (Pvt) Limited
16-04-2025 Entity A A1 Stable Reaffirmed Miscellaneous
Fatima Sugar Mills Limited
16-04-2025 Entity A- A2 Stable Reaffirmed Sugar
Ahmed Oriental Textile Mills Limited
15-04-2025 Entity A- A2 Stable Maintained Textiles
Al-Karam Textile Mills (Pvt) Limited
15-04-2025 Entity A A2 Stable Reaffirmed Textiles
Gohar Textile Mills (Pvt) Ltd
15-04-2025 Entity A+ A1 Stable Reaffirmed Textiles
Image Pakistan Limited
15-04-2025 Entity A- A2 Stable Initial Textiles
FDM Capital Securities (Pvt) Ltd
15-04-2025 BMR BMR3++ --- Stable Reaffirmed Brokerage & Securities Firms
FDM Capital Securities (Pvt) Ltd
15-04-2025 BFR BFR3 --- Stable Reaffirmed Brokerage & Securities Firms
Arshad Textile Mills Limited
15-04-2025 Entity BBB- A2 Stable Reaffirmed Textiles
Faran Sugar Mills Limited
11-04-2025 Entity A- A2 Stable Reaffirmed Sugar
Nadeem Textile Mills Limited
11-04-2025 Entity BBB+ A3 Negative Downgrade Textiles
Foundation Securities (Pvt) Limited
10-04-2025 Entity A A2 Stable Reaffirmed Brokerage & Securities Firms
10-04-2025 STS-30 --- A1+ --- Final Power Companies
Muhammad Munir Muhammad Ahmed Khanani Securities Limited
10-04-2025 Entity A- A2 Stable Under Review Brokerage & Securities Firms
Etihad Sugar Mills Limited
09-04-2025 Entity A A2 Stable Reaffirmed Sugar
Agriauto Stamping Company (Pvt) Limited
09-04-2025 Entity A- A2 Stable Under Review Auto & Allied
Transfopower Industries (Pvt) Limited
09-04-2025 Entity A- A2 Stable Under Review Engineering
Shifa International Hospitals Limited
07-04-2025 Entity AA- A1 Positive Maintained Medical and Pharmaceutical
Asian Food Industries Limited
07-04-2025 Entity A- A2 Stable Reaffirmed Consumer Goods
HBL Total Treasure Exchange Traded Fund
28-03-2025 Fund Stability AA- (f) --- --- Initial Fund Ratings
28-03-2025 Entity A A1 Stable Maintained Textiles
Veda Transit Solutions (Pvt.) Limited
28-03-2025 Entity D --- --- Default Transport
FFBL Power Company Ltd
27-03-2025 Entity AA A1 Stable Upgrade Power Companies
Olympia Oils (Pvt) Limited
26-03-2025 Entity A- A2 Stable Reaffirmed Consumer Goods
FINCA Microfinance Bank Limited
25-03-2025 Entity A- A2 Rating Watch - Developing Note Micro Finance
Sinolink REIT Management Company Limited
24-03-2025 Management Quality AM3 (RMC) --- Stable Initial Asset Manager Quality
20-03-2025 Entity AA A1+ Stable Maintained Paper & Packaging
Union Apparel (Pvt) Ltd
20-03-2025 Entity A- A2 Rating Watch - Developing Maintained Textiles
Union Fabrics (Pvt) Ltd
20-03-2025 Entity A- A2 Rating Watch - Developing Maintained Textiles
19-03-2025 Entity A A2 Stable Reaffirmed Consumer Goods
19-03-2025 REIT Rating RFR3(hr) --- Stable Initial REIT Ratings
Pakistan Reinsurance Company Limited
19-03-2025 IFS AA+ (IFS) --- Stable Reaffirmed Insurance
Zaman Textile Mills (Pvt) Limited
12-03-2025 Entity A- A2 Stable Reaffirmed Textiles
Pakistan Telecommunication Company Limited
11-03-2025 STS-10 --- A1+ --- Final Communication
Pakistan Telecommunication Company Limited
11-03-2025 STS-9 --- A1+ --- Final Communication
Alpha Capital (Pvt) Limited
11-03-2025 BFR BFR3 --- Stable Reaffirmed Brokerage & Securities Firms
Pakistan Telecommunication Company Limited
11-03-2025 STS-8 --- A1+ --- Final Communication
Naveena Industries Limited
10-03-2025 Entity A- A2 Stable Reaffirmed Textiles
EFU Life Assurance Limited
06-03-2025 IFS AA++ (IFS) --- Stable Reaffirmed Insurance
Shafi Lifestyle (Pvt) Ltd
06-03-2025 Entity A- A2 Stable Reaffirmed Tanneries and Leather Products
Askari General Insurance Company Limited
06-03-2025 IFS AA+ (IFS) --- Stable Reaffirmed Insurance
The Co-operative Insurance Society of Pakistan Limited
05-03-2025 IFS BB+ (IFS) --- Stable Reaffirmed Insurance
Lucky Core Industries Limited (Formerly ICI Pakistan Limited)
05-03-2025 Entity AA A1+ Positive Maintained Chemicals
HBL Money Market Fund
03-03-2025 Fund Stability AA+(f) --- --- Reaffirmed Fund Ratings
HBL Islamic Money Market Fund
03-03-2025 Fund Stability AA+(f) --- --- Reaffirmed Fund Ratings
HBL Islamic Income Fund
03-03-2025 Fund Stability A+(f) --- --- Reaffirmed Fund Ratings
03-03-2025 Fund Stability A+(f) --- --- Reaffirmed Fund Ratings
HBL Government Securities Fund
03-03-2025 Fund Stability AA- (f) --- --- Reaffirmed Fund Ratings
03-03-2025 Fund Stability AA+(f) --- --- Reaffirmed Fund Ratings
HBL Mehfooz Munafa Fund Plan-III (Under HBL Mehfooz Munafa Fund)
03-03-2025 Fund Stability AA(f) --- --- Initial Fund Ratings
HBL Financial Sector Income Fund Plan-II (Under HBL Financial Sector Income Fund)
03-03-2025 Fund Stability AA- (f) --- --- Initial Fund Ratings
HBL Financial Sector Income Fund Plan-I (Under HBL Financial Sector Income Fund)
03-03-2025 Fund Stability A+(f) --- --- Initial Fund Ratings
Mughal Energy Limited
26-02-2025 Sukuk 1 A+ (plim) --- Stable Preliminary Power Companies
IGI General Insurance Limited
26-02-2025 IFS AA+ (IFS) --- Stable Reaffirmed Insurance
Kausar Ghee Mills (Pvt) Limited
25-02-2025 Entity A A1 Stable Upgrade Consumer Goods
Liberty Daharki Power Limited (Formerly: TNB Liberty Power Limited)
24-02-2025 Entity A+ A1 Stable Reaffirmed Power Companies
Adam Securities Limited
21-02-2025 Entity A- A2 Positive Reaffirmed Brokerage & Securities Firms
EFU General Insurance Limited
19-02-2025 IFS AA++ (IFS) --- Stable Reaffirmed Insurance
Bhimra Textile Mills (Pvt) Limited
18-02-2025 Entity BBB+ A2 Stable Upgrade Textiles
HKB Retail (SMC-Pvt) Limited
18-02-2025 Entity A- A3 Stable Reaffirmed Miscellaneous
13-02-2025 Entity A A2 Negative Reaffirmed Consumer Goods
13-02-2025 STS --- A1 --- Final Medical and Pharmaceutical
Aspin Pharma (Pvt) Limited
13-02-2025 STS --- A1 --- Final Medical and Pharmaceutical
Sazgar Engineering Works Limited
12-02-2025 Entity A A1 Positive Upgrade Auto & Allied
Globe Residency - REIT
12-02-2025 REIT Rating RFR2(dr) --- Stable Reaffirmed REIT Ratings
10-02-2025 BMR BMR2++ --- Stable Reaffirmed Brokerage & Securities Firms
10-02-2025 Entity A- A2 Stable Reaffirmed Cement & Construction
Jubilee Life Insurance Company Limited
10-02-2025 IFS AA++ (IFS) --- Stable Reaffirmed Insurance
TS Securities (Pvt) Limited
10-02-2025 BFR BFR3 --- Stable Initial Broker Management Rating
Meezan Sovereign Fund
06-02-2025 Fund Stability AA(f) --- --- Reaffirmed Fund Ratings
Millac Food (Pvt) Limited
06-02-2025 Entity A- A2 Stable Initial Consumer Goods
06-02-2025 Entity A A1 Stable Reaffirmed Textiles
Faisal Spinning Mills Ltd
06-02-2025 Entity A A1 Stable Reaffirmed Textiles
Jubilee General Insurance Company Limited
04-02-2025 IFS AA++ (IFS) --- Stable Reaffirmed Insurance
Maple Leaf Capital Limited
04-02-2025 Entity A A1 Stable Upgrade Miscellaneous
Master Changan Motors Limited
31-01-2025 Entity A- A2 Positive Maintained Auto & Allied
Reliance Insurance Company Limited
31-01-2025 IFS A+ (IFS) --- Stable Reaffirmed Insurance
Bhanero Textile Mills Ltd
30-01-2025 Entity A+ A1 Stable Reaffirmed Textiles
Multiline Securities Limited
28-01-2025 Entity A- A2 Stable Reaffirmed Brokerage & Securities Firms
The Imperial Electric Company (Pvt) Limited
27-01-2025 Entity A- A2 Stable Maintained Engineering
Pak Telecom Mobile Limited
27-01-2025 Entity AA- A1 Stable Reaffirmed Communication
Highnoon Laboratories Ltd
24-01-2025 Entity A+ A1 Positive Reaffirmed Medical and Pharmaceutical
Kot Addu Power Company Limited
24-01-2025 Entity A+ A1 Stable Maintained Power Companies
23-01-2025 Sukuk 6 AA+ --- Stable Reaffirmed Power Companies
23-01-2025 Sukuk 5 AA+ --- Stable Reaffirmed Power Companies
23-01-2025 Entity AA A1+ Stable Reaffirmed Power Companies
NIT Islamic Money Market Fund
22-01-2025 Fund Stability AAA (f) --- --- Reaffirmed Fund Ratings
21-01-2025 IFS AA+ (IFS) --- Stable Reaffirmed Insurance
20-01-2025 Entity A A1 Stable Reaffirmed NBFCs
BBJ Pipe Industries Limited
20-01-2025 Entity BBB+ A2 Stable Update Steel & Allied Products
Treet Corporation Limited
20-01-2025 Entity A- A2 Stable Reaffirmed Consumer Goods
Sui Northern Gas Pipelines Limited
20-01-2025 Entity AA+ A1+ Stable Reaffirmed Oil & Gas
Dairyland (Pvt) Limited
17-01-2025 Entity A- A2 Positive Reaffirmed Consumer Goods
Associated Technologies (Pvt) Limited
17-01-2025 Entity A- A2 Stable Reaffirmed Miscellaneous
First Paramount Modaraba
16-01-2025 Entity BBB A3 Stable Reaffirmed Modarabas
Pearl Securities Limited
16-01-2025 BFR BFR3 --- Stable Initial Brokerage & Securities Firms
AA Spinning Mills Limited
15-01-2025 Entity A- A2 Stable Reaffirmed Textiles
Lahore Sialkot Motorway Infrastructure Management (Pvt) Ltd
14-01-2025 Entity A- A2 Stable Reaffirmed Cement & Construction
Shirazi Investments (Pvt) Limited
13-01-2025 Entity AA A1+ Stable Reaffirmed Miscellaneous
Pakistan Telecommunication Company Limited
10-01-2025 Entity AAA A1+ Stable Reaffirmed Communication
Arif Habib Dolmen REIT Management Limited
10-01-2025 Management Quality AM2 +(RMC) --- Stable Reaffirmed Asset Manager Quality
Al Ameen Islamic Sovereign Fund
09-01-2025 Fund Stability AA(f) --- --- Reaffirmed Fund Ratings
Al Ameen Islamic Cash Fund
09-01-2025 Fund Stability AA+(f) --- --- Reaffirmed Fund Ratings
Al Ameen Islamic Aggressive Income Fund
09-01-2025 Fund Stability A+(f) --- --- Reaffirmed Fund Ratings
UBL Growth & Income Fund
09-01-2025 Fund Stability A+(f) --- --- Reaffirmed Fund Ratings
UBL Government Securities Fund
09-01-2025 Fund Stability AA(f) --- --- Reaffirmed Fund Ratings
UBL Fund Managers Limited
09-01-2025 Management Quality AM1 --- Stable Reaffirmed Asset Manager Quality
UBL Income Opportunity Fund
09-01-2025 Fund Stability AA- (f) --- --- Reaffirmed Fund Ratings
UBL Liquidity Plus Fund
09-01-2025 Fund Stability AA+(f) --- --- Reaffirmed Fund Ratings
UBL Money Market Fund
09-01-2025 Fund Stability AA+(f) --- --- Reaffirmed Fund Ratings
Atlas Solar Limited (Formerly: Zhenfa Pakistan New Energy Company Limited)
07-01-2025 Entity A A2 Positive Maintained Power Companies
06-01-2025 STS --- A1 (plim) --- Preliminary Consumer Goods
06-01-2025 Entity BBB+ A2 Stable Reaffirmed Consumer Goods
Meezan Rozana Amdani Fund
06-01-2025 Fund Stability AA+(f) --- --- Reaffirmed Fund Ratings
Meezan Islamic Income Fund
06-01-2025 Fund Stability A+(f) --- --- Reaffirmed Fund Ratings
Meezan Daily Income Plan-I
06-01-2025 Fund Stability AA- (f) --- --- Upgrade Fund Ratings
06-01-2025 Fund Stability AA+(f) --- --- Reaffirmed Fund Ratings
NIT Social Impact Fund
03-01-2025 Fund Stability A+(f) --- --- Reaffirmed Fund Ratings
Alfalah Asset Management Limited
02-01-2025 Management Quality AM1 --- Stable Reaffirmed Asset Manager Quality
Askari Sovereign Yield Enhancer
02-01-2025 Fund Stability AA- (f) --- --- Reaffirmed Fund Ratings
02-01-2025 Fund Stability AA+(f) --- --- Reaffirmed Fund Ratings
Lucky Renewables (Pvt) Limited (Formerly: Tricom Wind Power (Pvt) Limited)
02-01-2025 Entity A A2 Stable Reaffirmed Power Companies
National Investment Trust Limited
01-01-2025 Management Quality AM1 --- Stable Reaffirmed Asset Manager Quality
Security General Insurance Company Limited
31-12-2024 IFS AA+ (IFS) --- Stable Reaffirmed Insurance
HBL- Asset Management Limited
31-12-2024 Management Quality AM1 --- Stable Reaffirmed Asset Manager Quality
Al-Meezan Investment Management Limited
31-12-2024 Management Quality AM1 --- Stable Reaffirmed Asset Manager Quality
Century Insurance Company Limited
31-12-2024 IFS AA (IFS) --- Stable Reaffirmed Insurance
31-12-2024 Entity A- A2 Negative Maintained Consumer Goods
30-12-2024 Entity BBB+ A2 Stable Reaffirmed Steel & Allied Products
Hi-Tech Lubricants Limited
30-12-2024 Entity A- A2 Stable Reaffirmed Oil & Gas
Asher Imran Spinning Mills (Pvt) Limited
30-12-2024 Entity A- A2 Stable Reaffirmed Textiles
Faysal Islamic Savings Growth Fund
27-12-2024 Fund Stability A+(f) --- --- Reaffirmed Fund Ratings
27-12-2024 Fund Stability AA+(f) --- --- Reaffirmed Fund Ratings
Faysal Islamic Cash Fund
27-12-2024 Fund Stability AA(f) --- --- Reaffirmed Fund Ratings
Shadab Textile Mills Limited
27-12-2024 Entity A- A2 Stable Maintained Textiles
AL Habib Money Market Fund
27-12-2024 Fund Stability AAA (f) --- --- Upgrade Fund Ratings
AL Habib Cash Fund (formerly First Habib Cash Fund)
27-12-2024 Fund Stability AAA (f) --- --- Upgrade Fund Ratings
Sunridge Foods (Private) Limited
26-12-2024 Sukuk 1 AAA (plim) --- Stable Preliminary Consumer Goods
Chubb Insurance Pakistan Limited
26-12-2024 IFS AA+ (IFS) --- Stable Reaffirmed Insurance
JK Dairies (Pvt) Limited
24-12-2024 Entity BBB+ A2 Stable Reaffirmed Consumer Goods
Pak-Gulf Leasing Company Limited
24-12-2024 Entity A- A2 Stable Reaffirmed Leasing
23-12-2024 Entity A- A2 Stable Reaffirmed Cement & Construction
Aisha Steel Mills Limited
23-12-2024 Entity BBB+ A2 Stable Reaffirmed Steel & Allied Products
19-12-2024 TFC A --- Stable Reaffirmed Textiles
19-12-2024 Entity A A2 Stable Reaffirmed Textiles
Servo Motor Oil (Pvt) Limited
19-12-2024 Entity BBB A2 Stable Reaffirmed Oil & Gas
19-12-2024 Entity A- A2 Stable Initial NBFCs
AKIK Capital (Pvt) Ltd
19-12-2024 BMR BMR3 --- Stable Reaffirmed Brokerage & Securities Firms
18-12-2024 Entity AA A1+ Stable Reaffirmed Auto & Allied
Crescent Steel & Allied Products Limited
17-12-2024 Sukuk 1 A- --- Stable Reaffirmed Steel & Allied Products
Crescent Steel & Allied Products Limited
17-12-2024 Entity A- A2 Stable Reaffirmed Steel & Allied Products
16-12-2024 Entity A A1 Stable Initial Medical and Pharmaceutical
Pakistan Kuwait Investment Company (Pvt) Limited
13-12-2024 CGR CGR 9+ --- --- Reaffirmed DFIs
Thal Power (Pvt) Limited
12-12-2024 Entity AA A1+ Stable Reaffirmed Power Companies
Pakistan State Oil Company Limited
12-12-2024 Entity AA+ A1+ Stable Reaffirmed Oil & Gas
Zephyr Textiles Limited
11-12-2024 Entity BBB+ A2 Stable Maintained Textiles
H.A Fibres (Pvt) Limited
10-12-2024 Entity A A2 Stable Upgrade Textiles
Gadoon Textile Mills Limited
09-12-2024 Entity A+ A1 Stable Reaffirmed Textiles
International Packaging Films Ltd
09-12-2024 Entity A A1 Stable Reaffirmed Paper & Packaging
Akram Cotton Mills Limited
06-12-2024 Entity BBB A2 Stable Reaffirmed Textiles
National Power Parks Management Company (Pvt) Limited
06-12-2024 Entity AA+ A1+ Stable Maintained Power Companies
Shields REIT Management Company Limited
05-12-2024 Management Quality AM4 +(RMC) --- Stable Reaffirmed Asset Manager Quality
Swat Expressway Planning Construction and Operations (Pvt) Limited
05-12-2024 Entity A- A2 Stable Reaffirmed Cement & Construction
Oil & Gas Development Company Limited
04-12-2024 Entity AAA A1+ Stable Reaffirmed Oil & Gas
Sohail Textile Mills Limited
02-12-2024 Entity BBB- A2 Stable Reaffirmed Textiles
Lucky Textile Mills Limited
02-12-2024 Entity AA- A1+ Stable Upgrade Textiles
02-12-2024 REIT Rating AAA (rr) --- Stable Reaffirmed REIT Ratings
28-11-2024 Entity A- A2 Stable Reaffirmed Brokerage & Securities Firms
Pakistan Currency Exchange Company (Private) Limited
28-11-2024 Entity A- A2 Stable Reaffirmed Exchange Companies
Agriauto Industries Limited
26-11-2024 Entity A- A1 Stable Reaffirmed Auto & Allied
Nishat Chunian Power Limited
25-11-2024 Entity A+ A2 Stable Reaffirmed Power Companies
Topline Securities Limited
25-11-2024 Entity A A1 Stable Reaffirmed Brokerage & Securities Firms
CBM Plastics (Pvt) Limited
22-11-2024 Entity BBB+ A2 Positive Maintained Paper & Packaging
Oil Industries Pakistan Limited
21-11-2024 Entity A- A2 Stable Reaffirmed Oil & Gas
21-11-2024 Entity A A2 Stable Upgrade Engineering
Malir Expressway Limited
20-11-2024 Entity A- A2 Stable Reaffirmed Cement & Construction
Pakistan Cables Limited
20-11-2024 Entity A A1 Negative Reaffirmed Engineering
Sachal Engineering Works (Pvt) Limited
18-11-2024 Entity A- A2 Stable Reaffirmed Cement & Construction
Mughal Iron & Steel Industries Limited
18-11-2024 Sukuk 1 A+ --- Stable Reaffirmed Steel & Allied Products
Mughal Iron & Steel Industries Limited
18-11-2024 Entity A+ A1 Stable Reaffirmed Steel & Allied Products
Indus Motor Company Ltd
15-11-2024 Entity AA+ A1+ Stable Reaffirmed Auto & Allied
Golden Harvest Foods (Pvt) Limited
14-11-2024 Entity BBB+ A2 Stable Reaffirmed Consumer Goods
Noventa Pharma (Private) Limited
13-11-2024 Entity A A2 Stable Initial Medical and Pharmaceutical
Shahtaj Textile Limited
13-11-2024 Entity A- A2 Stable Reaffirmed Textiles
13-11-2024 Entity A+ A1 Stable Reaffirmed Modarabas
Primus Leasing Limited
12-11-2024 Entity A+ A1 Stable Reaffirmed Leasing
Ranipur Sugar Mills (Pvt) Limited
12-11-2024 Entity A- A2 Stable Initial Sugar
Allied Bank Limited - CGR
11-11-2024 CGR CGR 9++ --- --- Reaffirmed Commercial Banks
08-11-2024 Entity AA+ A1+ Stable Reaffirmed Cement & Construction
BMA Capital Management Limited
08-11-2024 BFR BFR2 --- Stable Upgrade Brokerage & Securities Firms
Kohinoor Mills Limited
08-11-2024 Entity BBB+ A2 Stable Maintained Textiles
Gujranwala Electric Power Company
07-11-2024 Entity AA- A1 Stable Initial Power Companies
Metco Textile (Pvt) Limited
06-11-2024 Entity A- A2 Stable Maintained Textiles
OBS Pakistan (Pvt) Limited
05-11-2024 Sukuk 2 A+ --- Stable Reaffirmed Medical and Pharmaceutical
OBS Pakistan (Pvt) Limited
05-11-2024 Sukuk 1 A+ --- Stable Reaffirmed Medical and Pharmaceutical
OBS Pakistan (Pvt) Limited
05-11-2024 Entity A A2 Stable Reaffirmed Medical and Pharmaceutical
Aspin Pharma (Pvt) Limited
04-11-2024 Entity A A1 Stable Reaffirmed Medical and Pharmaceutical
04-11-2024 Entity BBB+ A2 Stable Reaffirmed Miscellaneous
31-10-2024 BFR BFR2 --- Stable Reaffirmed Brokerage & Securities Firms
Devsinc (Pvt) Limited
31-10-2024 Entity BBB+ A2 Stable Initial Miscellaneous
OBS AGP (Pvt) Limited
31-10-2024 Sukuk 1 A+ --- Stable Reaffirmed Medical and Pharmaceutical
OBS AGP (Pvt) Limited
31-10-2024 Entity A A1 Stable Reaffirmed Medical and Pharmaceutical
International Steels Limited
29-10-2024 Entity A+ A1 Stable Reaffirmed Steel & Allied Products
Faysal Government Securities Fund
28-10-2024 Fund Stability AA(f) --- --- Reaffirmed Fund Ratings
Bismillah Textiles Limited
28-10-2024 Entity A- A2 Stable Upgrade Textiles
Indus Dyeing & Manufacturing Co Limited
25-10-2024 Entity A+ A1 Stable Reaffirmed Textiles
Sunrays Textile Mills Limited
25-10-2024 Entity A- A1 Stable Reaffirmed Textiles
Indus Lyallpur Limited
25-10-2024 Entity A- A2 Stable Reaffirmed Textiles
Kohinoor Textile Mills Limited
23-10-2024 Entity A+ A1 Stable Reaffirmed Textiles
International Industries Limited
22-10-2024 Entity AA- A1 Stable Reaffirmed Steel & Allied Products
Engro Enfrashare (Pvt) Ltd
21-10-2024 Entity A- A2 Stable Reaffirmed Communication
Foundation Securities (Pvt) Limited
17-10-2024 BFR BFR3++ --- Stable Reaffirmed Brokerage & Securities Firms
Indus Sugar Mills Limited
16-10-2024 Entity A- A1 Stable Reaffirmed Sugar
Maple Leaf Cement Factory Ltd
11-10-2024 Entity A A1 Stable Reaffirmed Cement & Construction
NASDA Green Energy Limited
10-10-2024 Entity A- A2 Stable Reaffirmed Power Companies
Javedan Corporation Ltd.
09-10-2024 Sukuk 1 AA- --- Stable Reaffirmed Cement & Construction
Javedan Corporation Ltd.
09-10-2024 Entity A+ A1 Stable Reaffirmed Cement & Construction
Growth Securities (Pvt) Limited
07-10-2024 Entity A- A2 Stable Maintained Brokerage & Securities Firms
Sapphire Textile Mills Limited
07-10-2024 Entity A+ A1 Stable Reaffirmed Textiles
Taurus Securities Limited
04-10-2024 Entity A A2 Stable Maintained Brokerage & Securities Firms
Al-Ghazi Tractors Ltd.
03-10-2024 Entity A+ A1 Stable Reaffirmed Auto & Allied
Punjab Thermal Power (Pvt) Limited
02-10-2024 Entity AA A1 Stable Reaffirmed Power Companies
26-09-2024 Entity A+ A1 Stable Upgrade Power Companies
Quaid-e-Azam Thermal Power (Pvt) Limited
23-09-2024 Entity AA+ A1+ Stable Upgrade Power Companies
Maple Leaf Power Limited
23-09-2024 Entity A A1 Stable Initial Power Companies
OBS Pharma (Pvt) Limited
23-09-2024 BLR A+ (blr) --- Stable Reaffirmed Medical and Pharmaceutical
OBS Pharma (Pvt) Limited
23-09-2024 Entity A A1 Stable Reaffirmed Medical and Pharmaceutical
Insight Securities (Pvt) Ltd
20-09-2024 Entity BBB+ A2 Stable Reaffirmed Brokerage & Securities Firms
19-09-2024 Entity A A2 Positive Reaffirmed Sugar
Tauseef Enterprises (Pvt) Limited
18-09-2024 Entity A- A2 Stable Initial Textiles
The Thal Industries Corporation Limited
16-09-2024 Entity A A2 Positive Reaffirmed Sugar
Almoiz Industries Ltd
13-09-2024 Entity A A2 Stable Reaffirmed Sugar
Ana & Batla Industries (Pvt) Ltd
12-09-2024 Entity BBB A2 Stable Reaffirmed Miscellaneous
Thatta Cement Company Ltd
12-09-2024 Entity A A2 Stable Upgrade Cement & Construction
Agro Processors and Atmospheric Gases Limited
11-09-2024 Entity BBB+ A2 Stable Upgrade Consumer Goods
Taleem Finance Company Limited
11-09-2024 Entity BBB A2 Stable Initial NBFCs
Pak Oman Investment Company Limited
11-09-2024 CGR CGR 9+ --- --- Upgrade DFIs
Premier Sales (Pvt) Limited
11-09-2024 Entity A A1 Stable Reaffirmed Storage and Distribution
Sunridge Foods (Private) Limited
10-09-2024 Entity BBB+ A3 Stable Initial Consumer Goods
Utopia Industries (Pvt) Limited
10-09-2024 Entity A- A2 Stable Reaffirmed Textiles
PGP Consortium Limited
10-09-2024 Sukuk 1 AA- (plim) --- Stable Preliminary Oil & Gas
PGP Consortium Limited
10-09-2024 Pref Share BBB+ --- Stable Upgrade Oil & Gas
PGP Consortium Limited
10-09-2024 Entity A A2 Stable Upgrade Oil & Gas
Al Karam Towel Industries (Pvt) Ltd
10-09-2024 Entity A- A2 Stable Reaffirmed Textiles
Indus Wind Energy Limited
10-09-2024 Entity A A2 Stable Reaffirmed Power Companies
Faysal Asset Management Limited
10-09-2024 Management Quality AM1 --- Stable Upgrade Asset Manager Quality
Muller & Phipps Pakistan (Pvt) Limited
09-09-2024 Entity A+ A1 Stable Reaffirmed Storage and Distribution
Soorty Enterprises (Pvt) Limited
06-09-2024 Entity AA- A1 Stable Reaffirmed Textiles
Investment Managers Securities Private Limited
06-09-2024 BMR BMR3 --- Stable Reaffirmed Brokerage & Securities Firms
Chashma Sugar Mills Ltd
06-09-2024 Entity A- A2 Stable Reaffirmed Sugar
Comfort Knitwears (Pvt) Ltd
05-09-2024 Entity A- A2 Stable Reaffirmed Textiles
Engro Powergen Qadirpur Limited
04-09-2024 Entity AA- A1 Stable Maintained Power Companies
Fatima Fertilizer Company Limited
03-09-2024 Entity AA+ A1+ Stable Reaffirmed Fertilizer
Rajby Textiles (Pvt) Limited
03-09-2024 Entity A- A2 Stable Reaffirmed Textiles
Archroma Pakistan Ltd
03-09-2024 Entity AA A1 Negative Maintained Chemicals
Darson Securities (Pvt) Limited
30-08-2024 Entity BBB+ A2 Stable Reaffirmed Brokerage & Securities Firms
Al-Karam Textile Mills (Pvt) Limited
27-08-2024 Sukuk 1 A --- Stable Final Textiles
Shahmurad Sugar Mills Ltd
26-08-2024 Entity A A2 Positive Maintained Sugar
Al-Noor Sugar Mills Ltd.
26-08-2024 Entity A- A2 Stable Maintained Sugar
Gamalux Oleochemicals Limited
26-08-2024 Entity A- A2 Stable Reaffirmed Chemicals
Growth Securities (Pvt) Limited
23-08-2024 BFR BFR3+ --- Stable Initial Brokerage & Securities Firms
Faysal Islamic Financial Growth Plan-I (Under Faysal Islamic Financial Growth Fund)
23-08-2024 Fund Stability A+(f) --- --- Initial Fund Ratings
Integrated Equities Limited
21-08-2024 Entity A- A2 Stable Initial Brokerage & Securities Firms
21-08-2024 Entity A- A1 Stable Reaffirmed Textiles
Taj Gasoline (Pvt.) Limited
20-08-2024 Entity A A2 Stable Upgrade Oil & Gas
Faysal Islamic Sovereign Fund Plan-II (Under Faysal Islamic Sovereign Fund)
20-08-2024 Fund Stability AA(f) --- --- Initial Fund Ratings
19-08-2024 Entity A+ A2 Stable Upgrade Power Companies
AKIK Capital (Pvt) Ltd
16-08-2024 BFR BFR3 --- Stable Reaffirmed Brokerage & Securities Firms
Faisalabad Oil Refinery (Pvt) Limited
16-08-2024 Entity A- A2 Stable Reaffirmed Consumer Goods
Neelum Jhelum Hydropower Company (Pvt) Ltd
16-08-2024 Sukuk 1 AAA --- Stable Note Power Companies
Madina Sugar Mills Limited
13-08-2024 Entity A- A2 Stable Reaffirmed Sugar
Trukkr Financial Services Limited
12-08-2024 Entity A- A2 Stable Initial NBFCs
08-08-2024 Entity A- A2 Stable Reaffirmed Textiles
J.K Spinning Mills Limited
08-08-2024 Entity A- A1 Stable Reaffirmed Textiles
Avari Hotels (Pvt) Limited
08-08-2024 BLR AA (blr) --- Stable Reaffirmed Miscellaneous
Floret Commodities (Pvt) Limited
05-08-2024 BFR BFR3 --- Stable Initial Brokerage & Securities Firms
Sheikhoo Sugar Mills Limited
05-08-2024 Entity A- A2 Stable Reaffirmed Sugar
Everfresh Farms (Pvt) Limited
02-08-2024 Entity A- A2 Stable Upgrade Consumer Goods
Macter International Limited
02-08-2024 Entity A A1 Stable Upgrade Medical and Pharmaceutical
Ghotki Kandhkot Road & Bridge Co. (Pvt) Limited
31-07-2024 BLR AA (blr, plim) --- Stable Preliminary Cement & Construction
Ghotki Kandhkot Road & Bridge Co. (Pvt) Limited
31-07-2024 Entity A A2 Stable Reaffirmed Cement & Construction
K.S.F Tri Zone Industries (Pvt) Ltd
30-07-2024 Entity BBB+ A2 Stable Reaffirmed Paper & Packaging
Madina Private Limited
30-07-2024 Entity BBB A2 Stable Reaffirmed Consumer Goods
Akhtar Textile Industries (Pvt) Ltd
30-07-2024 Entity A A2 Stable Reaffirmed Textiles
Frontier Foundry Steel Limited
24-07-2024 Entity A A1 Stable Reaffirmed Steel & Allied Products
Sheikhupura Textile Mills Limited
24-07-2024 Entity BBB A2 Positive Maintained Textiles
Indigo Textile (Pvt) Limited
19-07-2024 Entity A A1 Stable Reaffirmed Textiles
18-07-2024 Entity AA- A1 Stable Upgrade Textiles
15-07-2024 Entity A- A2 Positive Maintained Textiles
MicroTech Industries (Pvt) Limited
12-07-2024 Entity A- A2 Stable Initial Miscellaneous
Faysal Islamic Sovereign Fund Plan-I (Under Faysal Islamic Sovereign Fund)
10-07-2024 Fund Stability AA(f) --- --- Initial Fund Ratings
The Searle Company Limited
10-07-2024 Entity AA- A1 Stable Maintained Medical and Pharmaceutical
Naveena Steels Mills (Pvt) Limited
09-07-2024 Entity A- A2 Negative Maintained Steel & Allied Products
Multiline Securities Limited
09-07-2024 BFR BFR3+ --- Stable Reaffirmed Brokerage & Securities Firms
Nishat (Chunian) Limited
05-07-2024 Entity A- A2 Stable Reaffirmed Textiles
Kamal Textile Mills (Pvt) Ltd
03-07-2024 Entity A- A2 Stable Reaffirmed Textiles
Shakarganj Food Products Limited
03-07-2024 Entity BBB- A3 Stable Maintained Consumer Goods
Shakarganj Food Products Limited
03-07-2024 Sukuk 1 BBB- --- Stable Downgrade Consumer Goods
The Organic Meat Company Limited
02-07-2024 Entity A A1 Stable Upgrade Consumer Goods
Dynamic Sportswear (Pvt) Limited
01-07-2024 Entity A- A2 Stable Reaffirmed Textiles
Al Baraka Bank (Pakistan) Limited
30-06-2024 Sukuk 2 A --- Positive Maintained Commercial Banks
Al Baraka Bank (Pakistan) Limited
30-06-2024 Entity A+ A1 Positive Maintained Commercial Banks
28-06-2024 Entity A+ A1 Stable Reaffirmed Commercial Banks
28-06-2024 Entity AA- A1+ Stable Upgrade Commercial Banks
28-06-2024 Entity AA A1+ Positive Maintained Commercial Banks
Summit Capital (Pvt) Limited
28-06-2024 BFR BFR3 --- Stable Initial Brokerage & Securities Firms
28-06-2024 Sukuk 4 AAA --- Stable Reaffirmed Commercial Banks
28-06-2024 Sukuk 3 AAA --- Stable Reaffirmed Commercial Banks
28-06-2024 Sukuk 2 AA+ --- Stable Reaffirmed Commercial Banks
28-06-2024 Entity AAA A1+ Stable Reaffirmed Commercial Banks
Taurus Securities Limited
28-06-2024 BMR BMR2+ --- Stable Reaffirmed Brokerage & Securities Firms
Taurus Securities Limited
28-06-2024 BFR BFR3+ --- Stable Reaffirmed Brokerage & Securities Firms
Pak China Investment Company Limited
28-06-2024 Entity AAA A1+ Stable Reaffirmed DFIs
28-06-2024 TFC-3 AA+ --- Stable Reaffirmed Commercial Banks
28-06-2024 TFC-2 AA+ --- Stable Reaffirmed Commercial Banks
28-06-2024 Entity AAA A1+ Stable Reaffirmed Commercial Banks
Pak Brunei Investment Company Limited
28-06-2024 Entity AA+ A1+ Stable Reaffirmed DFIs
Saudi Pak Industrial and Agricultural Investment Company Limited
28-06-2024 Entity AA+ A1+ Stable Reaffirmed DFIs
Pak Oman Investment Company Limited
28-06-2024 Entity AA+ A1+ Stable Reaffirmed DFIs
Dubai Islamic Bank Pakistan Ltd
27-06-2024 Sukuk 3 AA- --- Stable Reaffirmed Commercial Banks
Dubai Islamic Bank Pakistan Ltd
27-06-2024 Sukuk 2 A+ --- Stable Reaffirmed Commercial Banks
Dubai Islamic Bank Pakistan Ltd
27-06-2024 Entity AA A1+ Stable Reaffirmed Commercial Banks
Zarai Taraqiati Bank Limited
27-06-2024 Entity AAA A1+ Stable Reaffirmed DFIs
26-06-2024 TFC-5 AA+ --- Stable Reaffirmed Commercial Banks
26-06-2024 Entity AAA A1+ Stable Reaffirmed Commercial Banks
National Bank of Pakistan
26-06-2024 Entity AAA A1+ Stable Reaffirmed Commercial Banks
Power Chemical Industries Limited
24-06-2024 Entity A- A2 Stable Reaffirmed Chemicals
Crescent Bahuman Limited
24-06-2024 Entity A- A2 Positive Maintained Textiles
AKD Securities Limited
21-06-2024 Entity AA- A1 Stable Reaffirmed Brokerage & Securities Firms
Adam Securities Limited
20-06-2024 BFR BFR2 --- Stable Upgrade Brokerage & Securities Firms
14-06-2024 Entity A- A2 Stable Reaffirmed Textiles
Magnus Investments Limited
14-06-2024 Management Quality AM2++(IA) --- Stable Reaffirmed Asset Manager Quality
11-06-2024 Entity A+ A1 Stable Upgrade Textiles
Karachi Grain (Pvt) Limited
11-06-2024 Entity BBB+ A2 Stable Reaffirmed Consumer Goods
10-06-2024 Entity A- A2 Stable Maintained Consumer Goods
U Microfinance Bank Limited
10-06-2024 TFC-2 A- --- Stable Reaffirmed Micro Finance
U Microfinance Bank Limited
10-06-2024 Entity A+ A1 Stable Reaffirmed Micro Finance
DWP Technologies (Pvt) Limited
07-06-2024 Entity A- A2 Stable Reaffirmed Engineering
Digital World Pakistan (Pvt) Limited
07-06-2024 Entity A- A2 Stable Maintained Engineering
Enertech Water (Pvt) Limited
06-06-2024 Entity AA A1 Stable Initial Cement & Construction
04-06-2024 BFR BFR3 (plim) --- Stable Preliminary Brokerage & Securities Firms
House Building Finance Company Limited
04-06-2024 Entity AAA A1+ Stable Upgrade DFIs
Naveena Exports Limited
04-06-2024 Entity A A1 Stable Reaffirmed Textiles
Khushhali Microfinance Bank Limited
30-05-2024 Entity A- A2 Rating Watch - Negative Reaffirmed Micro Finance
Khushhali Microfinance Bank Limited
30-05-2024 TFC-2 B --- Negative Maintained Micro Finance
Khushhali Microfinance Bank Limited
30-05-2024 TFC-1 B --- Negative Maintained Micro Finance
Procon Engineering (Pvt) Limited
22-05-2024 Entity A A2 Stable Maintained Auto & Allied
Standard Capital Securities (Private) Limited
22-05-2024 BMR BMR2 --- Stable Reaffirmed Brokerage & Securities Firms
Standard Capital Securities (Private) Limited
22-05-2024 BFR BFR3 --- Stable Reaffirmed Brokerage & Securities Firms
AKD Securities Limited
20-05-2024 BMR BMR1 --- Stable Reaffirmed Brokerage & Securities Firms
Muhammad Munir Muhammad Ahmed Khanani Securities Limited
16-05-2024 BFR BFR2 --- Stable Reaffirmed Brokerage & Securities Firms
AKD Securities Limited
15-05-2024 BFR BFR2++ --- Stable Reaffirmed Brokerage & Securities Firms
MRA Securities Limited
13-05-2024 BFR BFR3++ --- Stable Upgrade Brokerage & Securities Firms
Ittefaq Agro Industries (Pvt) Limited
02-05-2024 Entity A- A2 Stable Initial Consumer Goods
Madina Oil Refinery Limited
09-04-2024 Entity BBB A2 Stable Upgrade Consumer Goods
Pak-Qatar General Takaful Limited
13-03-2024 IFS A (IFS) --- Stable Reaffirmed Insurance
BMA Capital Management Limited
01-02-2024 Entity A- A2 Stable Reaffirmed Brokerage & Securities Firms
BMA Capital Management Limited
01-02-2024 BMR BMR2++ --- Stable Upgrade Brokerage & Securities Firms
Bank Makramah Limited (Formerly:Summit Bank Limited)
27-06-2023 TFC-1 B --- Rating Watch - Negative Harmonised Commercial Banks
Bank Makramah Limited (Formerly:Summit Bank Limited)
07-06-2023 Entity --- --- --- Note Commercial Banks
Bhimra Textile Mills (Pvt) Limited
31-12-2021 Entity BBB A2 Stable Initial Textiles