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