Ratings
Name Date Rating Type Long Term Short Term Outlook/Rating Watch Action Sector
Adam Securities Limited 02/21/2025 Entity A- A2 Positive Reaffirmed Brokerage & Securities Firms
AKD Securities Limited 06/21/2024 Entity AA- A1 Stable Reaffirmed Brokerage & Securities Firms
Arif Habib Limited 11/05/2024 Entity AA- A1 Rating Watch - Developing Maintained Brokerage & Securities Firms
BMA Capital Management Limited 02/01/2024 Entity A- A2 Stable Reaffirmed Brokerage & Securities Firms
Darson Securities (Pvt) Limited 08/30/2024 Entity BBB+ A2 Stable Reaffirmed Brokerage & Securities Firms
Foundation Securities (Pvt) Limited 04/10/2025 Entity A A2 Stable Reaffirmed Brokerage & Securities Firms
Growth Securities (Pvt) Limited 10/07/2024 Entity A- A2 Stable Maintained Brokerage & Securities Firms
Insight Securities (Pvt) Ltd 09/20/2024 Entity BBB+ A2 Stable Reaffirmed Brokerage & Securities Firms
Integrated Equities Limited 08/21/2024 Entity A- A2 Stable Initial Brokerage & Securities Firms
MRA Securities Limited 05/02/2025 Entity A- A2 Stable Reaffirmed Brokerage & Securities Firms
Muhammad Munir Muhammad Ahmed Khanani Securities Limited 04/10/2025 Entity A- A2 Stable Under Review Brokerage & Securities Firms
Multiline Securities Limited 01/28/2025 Entity A- A2 Stable Reaffirmed Brokerage & Securities Firms
Next Capital Limited 11/28/2024 Entity A- A2 Stable Reaffirmed Brokerage & Securities Firms
Taurus Securities Limited 10/04/2024 Entity A A2 Stable Maintained Brokerage & Securities Firms
Topline Securities Limited 11/25/2024 Entity A A1 Stable Reaffirmed Brokerage & Securities Firms
Al Baraka Bank (Pakistan) Limited 07/05/2024 Entity A+ A1 Positive Maintained Commercial Banks
Bank Makramah Limited (Formerly:Summit Bank Limited) 06/07/2023 Entity Note Commercial Banks
Dubai Islamic Bank Pakistan Ltd 06/27/2024 Entity AA A1+ Stable Reaffirmed Commercial Banks
Faysal Bank Limited 06/28/2024 Entity AA A1+ Positive Maintained Commercial Banks
Habib Bank Limited 06/28/2024 Entity AAA A1+ Stable Reaffirmed Commercial Banks
Meezan Bank Limited 06/28/2024 Entity AAA A1+ Stable Reaffirmed Commercial Banks
National Bank of Pakistan 06/26/2024 Entity AAA A1+ Stable Reaffirmed Commercial Banks
Sindh Bank Ltd 06/28/2024 Entity AA- A1+ Stable Upgrade Commercial Banks
The Bank of Khyber 06/28/2024 Entity A+ A1 Stable Reaffirmed Commercial Banks
United Bank Limited 06/26/2024 Entity AAA A1+ Stable Reaffirmed Commercial Banks
House Building Finance Company Limited 06/04/2024 Entity AAA A1+ Stable Upgrade DFIs
Pak Brunei Investment Company Limited 06/28/2024 Entity AA+ A1+ Stable Reaffirmed DFIs
Pak China Investment Company Limited 06/28/2024 Entity AAA A1+ Stable Reaffirmed DFIs
Pak Oman Investment Company Limited 06/28/2024 Entity AA+ A1+ Stable Reaffirmed DFIs
Pakistan Mortgage Refinance Company 04/25/2025 Entity AAA A1+ Stable Reaffirmed DFIs
Saudi Pak Industrial and Agricultural Investment Company Limited 06/28/2024 Entity AA+ A1+ Stable Reaffirmed DFIs
Zarai Taraqiati Bank Limited 06/27/2024 Entity AAA A1+ Stable Reaffirmed DFIs
Pakistan Currency Exchange Company (Private) Limited 11/28/2024 Entity A- A2 Stable Reaffirmed Exchange Companies
First Credit and Investment Bank Limited 02/26/2024 Entity A A2 Stable Reaffirmed Investment Banks
Pak-Gulf Leasing Company Limited 12/24/2024 Entity A- A2 Stable Reaffirmed Leasing
Primus Leasing Limited 11/12/2024 Entity A+ A1 Stable Reaffirmed Leasing
CSC Empowerment & Inclusion Programme (MFI) 04/23/2025 Entity BBB- A3 Stable Reaffirmed Micro Finance
FINCA Microfinance Bank Limited 03/25/2025 Entity A- A2 Rating Watch - Developing Note Micro Finance
Halan Microfinance Bank Limited (Formerly: Advans Pakistan Microfinance Bank Ltd) 04/30/2025 Entity BBB A3 Positive Reaffirmed Micro Finance
HBL Microfinance Bank Limited 05/02/2025 Entity A+ A1 Stable Reaffirmed Micro Finance
Khushhali Microfinance Bank Limited 05/30/2024 Entity A- A2 Rating Watch - Negative Reaffirmed Micro Finance
LOLC Microfinance Bank Limited (Formerly: Pak Oman Microfinance Bank Limited) 05/07/2024 Entity A- A2 Stable Maintained Micro Finance
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
Sindh Microfinance Bank Limited 04/30/2025 Entity A A1 Stable Reaffirmed Micro Finance
U Microfinance Bank Limited 06/10/2024 Entity A+ A1 Stable Reaffirmed Micro Finance
First Paramount Modaraba 01/16/2025 Entity BBB A3 Stable Reaffirmed Modarabas
Sindh Modaraba 11/13/2024 Entity A+ A1 Stable Reaffirmed Modarabas
Trust Modaraba 05/13/2024 Entity BBB+ A2 Stable Reaffirmed Modarabas
Burj Clean Energy Modaraba 04/28/2025 Entity A A1 Stable Initial NBFCs
Cyan Limited 01/20/2025 Entity A A1 Stable Reaffirmed NBFCs
DAMEN Support Programme 04/17/2024 Entity BBB- A3 Stable Initial NBFCs
GoldFin Limited 12/19/2024 Entity A- A2 Stable Initial NBFCs
LSE Financial Services Limited 03/08/2024 Entity A A1 Rating Watch - Developing Reaffirmed NBFCs
Rural Community Development Programs 05/02/2024 Entity BBB+ A3 Stable Upgrade NBFCs
Taleem Finance Company Limited 09/11/2024 Entity BBB A2 Stable Initial NBFCs
Trukkr Financial Services Limited 08/12/2024 Entity A- A2 Stable Initial NBFCs
Agriauto Industries Limited 11/26/2024 Entity A- A1 Stable Reaffirmed Auto & Allied
Agriauto Stamping Company (Pvt) Limited 04/30/2025 Entity A- A2 Stable Under Review Auto & Allied
Al-Ghazi Tractors Ltd. 10/03/2024 Entity A+ A1 Stable Reaffirmed Auto & Allied
Indus Motor Company Ltd 11/15/2024 Entity AA+ A1+ Stable Reaffirmed Auto & Allied
Master Changan Motors Limited 03/03/2025 Entity A- A2 Positive Maintained Auto & Allied
Omar Jibran Engineering Industries Limited 03/20/2025 Entity Suspended Auto & Allied
Procon Engineering (Pvt) Limited 05/22/2024 Entity A A2 Stable Maintained Auto & Allied
Sazgar Engineering Works Limited 02/12/2025 Entity A A1 Positive Upgrade Auto & Allied
Thal Limited 12/18/2024 Entity AA A1+ Stable Reaffirmed Auto & Allied
Dolmen (Pvt) Limited 02/10/2025 Entity A- A2 Stable Reaffirmed Cement & Construction
Enertech Water (Pvt) Limited 06/06/2024 Entity AA A1 Stable Initial Cement & Construction
Ghotki Kandhkot Road & Bridge Co. (Pvt) Limited 07/31/2024 Entity A A2 Stable Reaffirmed Cement & Construction
Izhar Construction (Pvt) Limited 03/27/2024 Entity A A1 Stable Upgrade Cement & Construction
Javedan Corporation Ltd. 10/09/2024 Entity A+ A1 Stable Reaffirmed Cement & Construction
Lahore Sialkot Motorway Infrastructure Management (Pvt) Ltd 01/14/2025 Entity A- A2 Stable Reaffirmed Cement & Construction
Lucky Cement Limited 11/08/2024 Entity AA+ A1+ Stable Reaffirmed Cement & Construction
Malir Expressway Limited 11/20/2024 Entity A- A2 Stable Reaffirmed Cement & Construction
Maple Leaf Cement Factory Ltd 10/11/2024 Entity A A1 Stable Reaffirmed Cement & Construction
Power Cement Ltd 12/23/2024 Entity A- A2 Stable Reaffirmed Cement & Construction
Sachal Engineering Works (Pvt) Limited 11/18/2024 Entity A- A2 Stable Reaffirmed Cement & Construction
Swat Expressway Planning Construction and Operations (Pvt) Limited 12/05/2024 Entity A- A2 Stable Reaffirmed Cement & Construction
Thatta Cement Company Ltd 09/12/2024 Entity A A2 Stable Upgrade Cement & Construction
Archroma Pakistan Ltd 09/03/2024 Entity AA A1 Negative Maintained Chemicals
Gamalux Oleochemicals Limited 08/26/2024 Entity A- A2 Stable Reaffirmed Chemicals
Ittehad Chemicals Limited 04/29/2025 Entity A- A2 Positive Maintained Chemicals
Lucky Core Industries Limited (Formerly ICI Pakistan Limited) 03/05/2025 Entity AA A1+ Positive Maintained Chemicals
Power Chemical Industries Limited 06/24/2024 Entity A- A2 Stable Reaffirmed Chemicals
Sitara Chemical Industries Limited 06/14/2024 Entity A+ A2 Stable Reaffirmed Chemicals
Engro Enfrashare (Pvt) Ltd 10/21/2024 Entity A- A2 Stable Reaffirmed Communication
Pak Telecom Mobile Limited 01/28/2025 Entity AA- A1 Stable Reaffirmed Communication
Pakistan Telecommunication Company Limited 01/10/2025 Entity AAA A1+ Stable Reaffirmed Communication
Tower Power (Pvt) Limited 04/24/2025 Entity A- A2 Stable Reaffirmed Communication
Agro Processors and Atmospheric Gases Limited 09/11/2024 Entity BBB+ A2 Stable Upgrade Consumer Goods
Asian Food Industries Limited 04/07/2025 Entity A- A2 Stable Reaffirmed Consumer Goods
At-Tahur Limited 06/11/2024 Entity A- A2 Stable Maintained Consumer Goods
Bismillah Sehla Processing Plant (Pvt) Limited 04/07/2025 Entity Suspended Consumer Goods
Bunny's Limited 12/31/2024 Entity A- A2 Negative Maintained Consumer Goods
Dairyland (Pvt) Limited 01/17/2025 Entity A- A2 Positive Reaffirmed Consumer Goods
Everfresh Farms (Pvt) Limited 08/02/2024 Entity A- A2 Stable Upgrade Consumer Goods
Faisalabad Oil Refinery (Pvt) Limited 08/16/2024 Entity A- A2 Stable Reaffirmed Consumer Goods
Garibsons (Pvt) Ltd. 03/19/2025 Entity A A2 Stable Reaffirmed Consumer Goods
Golden Harvest Foods (Pvt) Limited 11/14/2024 Entity BBB+ A2 Stable Reaffirmed Consumer Goods
Haleeb Foods Limited 04/17/2025 Entity A A1 Stable Upgrade Consumer Goods
Ittefaq Agro Industries (Pvt) Limited 05/03/2024 Entity A- A2 Stable Initial Consumer Goods
JK Dairies (Pvt) Limited 04/22/2025 Entity BBB+ A2 Stable Reaffirmed Consumer Goods
Karachi Grain (Pvt) Limited 06/11/2024 Entity BBB+ A2 Stable Reaffirmed Consumer Goods
Kausar Ghee Mills (Pvt) Limited 02/26/2025 Entity A A1 Stable Upgrade Consumer Goods
Madina Oil Refinery Limited 04/09/2024 Entity BBB A2 Stable Upgrade Consumer Goods
Madina Private Limited 07/30/2024 Entity BBB A2 Stable Reaffirmed Consumer Goods
Matco Foods Limited 01/06/2025 Entity BBB+ A2 Stable Reaffirmed Consumer Goods
Millac Food (Pvt) Limited 02/07/2025 Entity A- A2 Stable Initial Consumer Goods
Olympia Oils (Pvt) Limited 03/26/2025 Entity A- A2 Stable Reaffirmed Consumer Goods
Shakarganj Food Products Limited 07/03/2024 Entity BBB- A3 Stable Maintained Consumer Goods
Staple Foods Private Limited 05/08/2024 Entity A A1 Stable Upgrade Consumer Goods
Sunridge Foods (Private) Limited 09/10/2024 Entity BBB+ A3 Stable Initial Consumer Goods
The Organic Meat Company Limited 07/02/2024 Entity A A1 Stable Upgrade Consumer Goods
Treet Corporation Limited 01/20/2025 Entity A- A2 Stable Reaffirmed Consumer Goods
Unity Foods Limited 02/13/2025 Entity A A2 Negative Reaffirmed Consumer Goods
Digital World Pakistan (Pvt) Limited 06/07/2024 Entity A- A2 Stable Maintained Engineering
DWP Technologies (Pvt) Limited 06/07/2024 Entity A- A2 Stable Reaffirmed Engineering
EMCO Industries Limited 04/08/2025 Entity Suspended Engineering
Fast Cables Limited 11/21/2024 Entity A A2 Stable Upgrade Engineering
Mannan Shahid Forgings Limited 05/06/2024 Entity A A2 Stable Upgrade Engineering
Orient Electronics (Pvt) Limited 05/09/2025 Entity A- A2 Stable Maintained Engineering
Pakistan Cables Limited 11/20/2024 Entity A A1 Negative Reaffirmed Engineering
The Imperial Electric Company (Pvt) Limited 01/27/2025 Entity A- A2 Stable Maintained Engineering
Transfopower Industries (Pvt) Limited 04/09/2025 Entity A- A2 Stable Under Review Engineering
Fatima Fertilizer Company Limited 09/03/2024 Entity AA+ A1+ Stable Reaffirmed Fertilizer
Aspin Pharma (Pvt) Limited 11/04/2024 Entity A A1 Stable Reaffirmed Medical and Pharmaceutical
Citi Pharma Limited 12/16/2024 Entity A A1 Stable Initial Medical and Pharmaceutical
Highnoon Laboratories Ltd 01/24/2025 Entity A+ A1 Positive Reaffirmed Medical and Pharmaceutical
Macter International Limited 08/02/2024 Entity A A1 Stable Upgrade Medical and Pharmaceutical
Noventa Pharma (Private) Limited 11/14/2024 Entity A A2 Stable Initial Medical and Pharmaceutical
OBS AGP (Pvt) Limited 10/31/2024 Entity A A1 Stable Reaffirmed Medical and Pharmaceutical
OBS Pakistan (Pvt) Limited 11/05/2024 Entity A A2 Stable Reaffirmed Medical and Pharmaceutical
OBS Pharma (Pvt) Limited 09/23/2024 Entity A A1 Stable Reaffirmed Medical and Pharmaceutical
Shifa International Hospitals Limited 04/08/2025 Entity AA- A1 Positive Maintained Medical and Pharmaceutical
The Searle Company Limited 07/10/2024 Entity AA- A1 Stable Maintained Medical and Pharmaceutical
Ana & Batla Industries (Pvt) Ltd 09/12/2024 Entity BBB A2 Stable Reaffirmed Miscellaneous
Associated Technologies (Pvt) Limited 01/17/2025 Entity A- A2 Stable Reaffirmed Miscellaneous
Biotech Energy (Pvt) Limited 04/16/2025 Entity A A1 Stable Reaffirmed Miscellaneous
Devsinc (Pvt) Limited 10/31/2024 Entity BBB+ A2 Stable Initial Miscellaneous
HKB Retail (SMC-Pvt) Limited 02/18/2025 Entity A- A3 Stable Reaffirmed Miscellaneous
Maple Leaf Capital Limited 02/04/2025 Entity A A1 Stable Upgrade Miscellaneous
MicroTech Industries (Pvt) Limited 07/12/2024 Entity A- A2 Stable Initial Miscellaneous
Optimus Limited 11/04/2024 Entity BBB+ A2 Stable Reaffirmed Miscellaneous
Service Sales Corporation (Pvt) Limited 05/20/2024 Entity A- A2 Stable Initial Miscellaneous
Shirazi Investments (Pvt) Limited 01/13/2025 Entity AA A1+ Stable Reaffirmed Miscellaneous
Transsion Tecno Electronics (Pvt) Limited 05/09/2025 Entity A- A2 Stable Reaffirmed Miscellaneous
Hi-Tech Lubricants Limited 12/31/2024 Entity A- A2 Stable Reaffirmed Oil & Gas
Oil & Gas Development Company Limited 12/04/2024 Entity AAA A1+ Stable Reaffirmed Oil & Gas
Oil Industries Pakistan Limited 11/21/2024 Entity A- A2 Stable Reaffirmed Oil & Gas
Pakistan State Oil Company Limited 12/12/2024 Entity AA+ A1+ Stable Reaffirmed Oil & Gas
PGP Consortium Limited 09/10/2024 Entity A A2 Stable Upgrade Oil & Gas
Servo Motor Oil (Pvt) Limited 12/19/2024 Entity BBB A2 Stable Reaffirmed Oil & Gas
Sui Northern Gas Pipelines Limited 01/21/2025 Entity AA+ A1+ Stable Reaffirmed Oil & Gas
Taj Gasoline (Pvt.) Limited 08/21/2024 Entity A A2 Stable Upgrade Oil & Gas
Zoom Marketing Oils (Pvt) Limited 04/17/2025 Entity BBB- A3 Positive Reaffirmed Oil & Gas
Zoom Petroleum (Pvt) Limited 04/17/2025 Entity BBB- A3 Stable Reaffirmed Oil & Gas
CBM Plastics (Pvt) Limited 11/22/2024 Entity BBB+ A2 Positive Maintained Paper & Packaging
Century Paper & Board Mills Limited 02/26/2024 Entity AA- A1 Stable Reaffirmed Paper & Packaging
International Packaging Films Ltd 12/09/2024 Entity A A1 Stable Reaffirmed Paper & Packaging
K.S.F Tri Zone Industries (Pvt) Ltd 07/30/2024 Entity BBB+ A2 Stable Reaffirmed Paper & Packaging
Kompass Pakistan (Pvt) Ltd 04/07/2025 Entity Suspended Paper & Packaging
Novatex Limited 03/20/2025 Entity AA A1+ Stable Maintained Paper & Packaging
Syntronics Limited 04/08/2024 Entity BBB+ A2 Stable Reaffirmed Paper & Packaging
AJ Power (Pvt) Ltd 08/19/2024 Entity A+ A2 Stable Upgrade Power Companies
Artistic Energy (Pvt) Ltd 05/14/2024 Entity A+ A1 Stable Reaffirmed Power Companies
Artistic Wind Power Pvt Ltd 05/14/2024 Entity A A2 Stable Reaffirmed Power Companies
Atlas Solar Limited (Formerly: Zhenfa Pakistan New Energy Company Limited) 01/07/2025 Entity A A2 Positive Maintained Power Companies
Engro Powergen Qadirpur Limited 09/04/2024 Entity AA- A1 Stable Maintained Power Companies
FFBL Power Company Ltd 03/27/2025 Entity AA A1 Stable Upgrade Power Companies
Gharo Solar Ltd 09/26/2024 Entity A+ A1 Stable Upgrade Power Companies
Gujranwala Electric Power Company 11/08/2024 Entity AA- A1 Stable Initial Power Companies
Indus Wind Energy Limited 09/10/2024 Entity A A2 Stable Reaffirmed Power Companies
K-Electric Limited 01/23/2025 Entity AA A1+ Stable Reaffirmed Power Companies
Kot Addu Power Company Limited 01/24/2025 Entity A+ A1 Stable Maintained Power Companies
Liberty Daharki Power Limited (Formerly: TNB Liberty Power Limited) 02/24/2025 Entity A+ A1 Stable Reaffirmed Power Companies
Lucky Renewables (Pvt) Limited (Formerly: Tricom Wind Power (Pvt) Limited) 01/01/2025 Entity A A2 Stable Reaffirmed Power Companies
Maple Leaf Power Limited 09/23/2024 Entity A A1 Stable Initial Power Companies
NASDA Green Energy Limited 10/10/2024 Entity A- A2 Stable Reaffirmed Power Companies
National Power Parks Management Company (Pvt) Limited 12/06/2024 Entity AA+ A1+ Stable Maintained Power Companies
Nishat Chunian Power Limited 11/25/2024 Entity A+ A2 Stable Reaffirmed Power Companies
Punjab Thermal Power (Pvt) Limited 10/02/2024 Entity AA A1 Stable Reaffirmed Power Companies
Quaid-e-Azam Thermal Power (Pvt) Limited 09/23/2024 Entity AA+ A1+ Stable Upgrade Power Companies
Thal Power (Pvt) Limited 12/12/2024 Entity AA A1+ Stable Reaffirmed Power Companies
Yunus Energy Limited 07/03/2024 Entity A+ A1 Stable Reaffirmed Power Companies
Zephyr Power Limited 04/30/2025 Entity A+ A1 Stable Reaffirmed Power Companies
Agha Steel Industries Limited 05/22/2024 Entity CCC C Negative Downgrade Steel & Allied Products
Aisha Steel Mills Limited 12/23/2024 Entity BBB+ A2 Stable Reaffirmed Steel & Allied Products
BBJ Pipe Industries Limited 01/20/2025 Entity BBB+ A2 Stable Update Steel & Allied Products
Crescent Steel & Allied Products Limited 12/17/2024 Entity A- A2 Stable Reaffirmed Steel & Allied Products
Faizan Steel 12/30/2024 Entity BBB+ A2 Stable Reaffirmed Steel & Allied Products
Frontier Foundry Steel Limited 07/24/2024 Entity A A1 Stable Reaffirmed Steel & Allied Products
International Industries Limited 10/22/2024 Entity AA- A1 Stable Reaffirmed Steel & Allied Products
International Steels Limited 10/29/2024 Entity A+ A1 Stable Reaffirmed Steel & Allied Products
Mehboob Steel Pipe Industry 04/22/2025 Entity BBB A2 Stable Under Review Steel & Allied Products
Mughal Iron & Steel Industries Limited 11/18/2024 Entity A+ A1 Stable Reaffirmed Steel & Allied Products
Naveena Steels Mills (Pvt) Limited 07/09/2024 Entity A- A2 Negative Maintained Steel & Allied Products
Ali Gohar & Company (Pvt) Ltd 04/17/2025 Entity A A2 Stable Reaffirmed Storage and Distribution
Muller & Phipps Pakistan (Pvt) Limited 09/09/2024 Entity A+ A1 Stable Reaffirmed Storage and Distribution
Popular International (Pvt) Limited 04/08/2025 Entity Suspended Storage and Distribution
Premier Sales (Pvt) Limited 09/11/2024 Entity A A1 Stable Reaffirmed Storage and Distribution
Tech Sirat (Pvt) Limited 04/29/2025 Entity Suspended Storage and Distribution
Adam Sugar Mills Limited 05/07/2025 Entity A- A2 Stable Reaffirmed Sugar
Al-Noor Sugar Mills Ltd. 08/26/2024 Entity A- A2 Stable Maintained Sugar
Alliance Sugar Mills (Pvt) Limited 04/07/2025 Entity Suspended Sugar
Almoiz Industries Ltd 09/13/2024 Entity A A2 Stable Reaffirmed Sugar
Ashraf Sugar Mills Limited 05/02/2025 Entity A- A2 Stable Under Review Sugar
Chashma Sugar Mills Ltd 09/06/2024 Entity A- A2 Stable Reaffirmed Sugar
Deharki Sugar Mills (Pvt) Limited 05/13/2024 Entity A A2 Stable Reaffirmed Sugar
Etihad Sugar Mills Limited 04/09/2025 Entity A A2 Stable Reaffirmed Sugar
Faran Sugar Mills Limited 04/11/2025 Entity A- A2 Stable Reaffirmed Sugar
Fatima Sugar Mills Limited 04/16/2025 Entity A- A2 Stable Reaffirmed Sugar
Indus Sugar Mills Limited 10/16/2024 Entity A- A1 Stable Reaffirmed Sugar
JDW Sugar Mills Ltd 05/13/2024 Entity AA- A1 Stable Upgrade Sugar
JK Sugar Mills (Pvt) Limited 05/13/2024 Entity BBB+ A2 Stable Upgrade Sugar
Madina Sugar Mills Limited 08/13/2024 Entity A- A2 Stable Reaffirmed Sugar
Ranipur Sugar Mills (Pvt) Limited 11/12/2024 Entity A- A2 Stable Initial Sugar
RYK Mills Limited 09/19/2024 Entity A A2 Positive Reaffirmed Sugar
Shahmurad Sugar Mills Ltd 08/26/2024 Entity A A2 Positive Maintained Sugar
Shahtaj Sugar Mills Limited 06/14/2024 Entity A- A2 Stable Initial Sugar
Sheikhoo Sugar Mills Limited 08/05/2024 Entity A- A2 Stable Reaffirmed Sugar
Tariq Corporation Limited 04/23/2025 Entity BBB A3 Stable Reaffirmed Sugar
The Thal Industries Corporation Limited 09/16/2024 Entity A A2 Positive Reaffirmed Sugar
Two Star Industries (Pvt) Limited 04/21/2025 Entity BBB+ A2 Negative Maintained Sugar
Muhammad Shafi Tanneries (Pvt) Ltd 04/30/2025 Entity Suspended Tanneries and Leather Products
Shafi Lifestyle (Pvt) Ltd 03/06/2025 Entity A- A2 Stable Reaffirmed Tanneries and Leather Products
Universal Leather (Pvt) Ltd. 04/30/2025 Entity Suspended Tanneries and Leather Products
AA Spinning Mills Limited 01/16/2025 Entity A- A2 Stable Reaffirmed Textiles
AGI Denim 06/12/2024 Entity A+ A1 Stable Upgrade Textiles
Ahmed Oriental Textile Mills Limited 04/15/2025 Entity A- A2 Stable Maintained Textiles
Akhtar Textile Industries (Pvt) Ltd 07/30/2024 Entity A A2 Stable Reaffirmed Textiles
Akram Cotton Mills Limited 12/06/2024 Entity BBB A2 Stable Reaffirmed Textiles
Al Karam Towel Industries (Pvt) Ltd 09/10/2024 Entity A- A2 Stable Reaffirmed Textiles
Al-Karam Textile Mills (Pvt) Limited 04/16/2025 Entity A A2 Stable Reaffirmed Textiles
Amna Industries (Pvt) Limited 05/17/2024 Entity BBB+ A2 Negative Maintained Textiles
Arshad Corporation (Pvt) Ltd 05/09/2025 Entity A- A2 Stable Reaffirmed Textiles
Arshad Textile Mills Limited 04/15/2025 Entity BBB- A2 Stable Reaffirmed Textiles
Artistic Denim Mills Ltd 04/30/2025 Entity A- A2 Stable Reaffirmed Textiles
Asher Imran Spinning Mills (Pvt) Limited 12/30/2024 Entity A- A2 Stable Reaffirmed Textiles
Best Fibres (Pvt) Ltd 05/07/2025 Entity A- A2 Positive Reaffirmed Textiles
Bhanero Textile Mills Ltd 01/30/2025 Entity A+ A1 Stable Reaffirmed Textiles
Bhimra Textile Mills (Pvt) Limited 02/18/2025 Entity BBB+ A2 Stable Upgrade Textiles
Bismillah Textiles Limited 10/28/2024 Entity A- A2 Stable Upgrade Textiles
Blessed Textiles Ltd 02/06/2025 Entity A A1 Stable Reaffirmed Textiles
Comfort Knitwears (Pvt) Ltd 09/05/2024 Entity A- A2 Stable Reaffirmed Textiles
Crescent Bahuman Limited 06/24/2024 Entity A- A2 Positive Maintained Textiles
Dynamic Sportswear (Pvt) Limited 07/01/2024 Entity A- A2 Stable Reaffirmed Textiles
Faisal Spinning Mills Ltd 02/06/2025 Entity A A1 Stable Reaffirmed Textiles
Feroze 1888 Mills Limited 02/27/2024 Entity AA- A1 Stable Reaffirmed Textiles
Gadoon Textile Mills Limited 12/09/2024 Entity A+ A1 Stable Reaffirmed Textiles
Gatron (Industries) Limited 05/17/2024 Entity A- A2 Stable Reaffirmed Textiles
Gohar Textile Mills (Pvt) Ltd 04/15/2025 Entity A+ A1 Stable Reaffirmed Textiles
H.A Fibres (Pvt) Limited 12/11/2024 Entity A A2 Stable Upgrade Textiles
Image Pakistan Limited 04/16/2025 Entity A- A2 Stable Initial Textiles
Indigo Textile (Pvt) Limited 07/19/2024 Entity A A1 Stable Reaffirmed Textiles
Indus Dyeing & Manufacturing Co Limited 10/25/2024 Entity A+ A1 Stable Reaffirmed Textiles
Indus Home Limited 08/08/2024 Entity A- A2 Stable Reaffirmed Textiles
Indus Lyallpur Limited 10/25/2024 Entity A- A2 Stable Reaffirmed Textiles
Interloop Limited 07/18/2024 Entity AA- A1 Stable Upgrade Textiles
International Textile Limited 05/06/2025 Entity A A2 Stable Reaffirmed Textiles
J.K Spinning Mills Limited 08/08/2024 Entity A- A1 Stable Reaffirmed Textiles
Kamal Limited 04/25/2025 Entity A A1 Stable Reaffirmed Textiles
Kamal Textile Mills (Pvt) Ltd 07/03/2024 Entity A- A2 Stable Reaffirmed Textiles
Khalid Shafique Spinning Mills Limited 06/03/2024 Entity BBB+ A2 Stable Maintained Textiles
Kohinoor Mills Limited 11/08/2024 Entity BBB+ A2 Stable Maintained Textiles
Kohinoor Textile Mills Limited 10/23/2024 Entity A+ A1 Stable Reaffirmed Textiles
Lucky Knits (Pvt) Limited 04/18/2025 Entity A- A1 Stable Reaffirmed Textiles
Lucky Textile Mills Limited 12/02/2024 Entity AA- A1+ Stable Upgrade Textiles
M.K Sons (Pvt) Ltd 06/14/2024 Entity A- A2 Stable Reaffirmed Textiles
Master Textile Mills Limited 05/05/2025 Entity Suspended Textiles
Metco Textile (Pvt) Limited 11/06/2024 Entity A- A2 Stable Maintained Textiles
Mustaqim Dyeing and Printing Ind. (Pvt) limited 05/15/2024 Entity A- A2 Stable Reaffirmed Textiles
Nadeem Textile Mills Limited 04/11/2025 Entity BBB+ A3 Negative Downgrade Textiles
Naveena Exports Limited 06/04/2024 Entity A A1 Stable Reaffirmed Textiles
Naveena Industries Limited 03/10/2025 Entity A- A2 Stable Reaffirmed Textiles
Nishat (Chunian) Limited 07/05/2024 Entity A- A2 Stable Reaffirmed Textiles
Pak kuwait Textiles Limited 03/27/2025 Entity Suspended Textiles
Premium Textile Mills Limited 06/05/2024 Entity A- A2 Stable Reaffirmed Textiles
Rajby Industries 07/15/2024 Entity A- A2 Positive Maintained Textiles
Rajby Textiles (Pvt) Limited 09/03/2024 Entity A- A2 Stable Reaffirmed Textiles
Rizwan Enterprises 08/21/2024 Entity A- A1 Stable Reaffirmed Textiles
Sadaqat Limited 12/19/2024 Entity A A2 Stable Reaffirmed Textiles
Sapphire Textile Mills Limited 10/08/2024 Entity A+ A1 Stable Reaffirmed Textiles
Saya Weaving Mills (Pvt) Limited 04/18/2025 Entity A- A2 Stable Under Review Textiles
Shadab Textile Mills Limited 12/27/2024 Entity A- A2 Stable Maintained Textiles
Shahbaz Garments (Pvt) Limited 04/16/2024 Entity A- A2 Stable Reaffirmed Textiles
Shahkam Industries (Pvt) Ltd 04/18/2025 Entity A- A2 Stable Initial Textiles
Shahtaj Textile Limited 11/13/2024 Entity A- A2 Stable Reaffirmed Textiles
Sheikhupura Textile Mills Limited 07/24/2024 Entity BBB A2 Positive Maintained Textiles
Siara Textile Mills (Pvt) Limited 05/06/2025 Entity Suspended Textiles
Sitara Hamza (Pvt) Limited 04/09/2025 Entity BBB A3 Stable Under Review Textiles
Sitara Textile Industries Ltd 04/09/2025 Entity Suspended Textiles
Sohail Textile Mills Limited 12/03/2024 Entity BBB- A2 Stable Reaffirmed Textiles
Soorty Enterprises (Pvt) Limited 09/06/2024 Entity AA- A1 Stable Reaffirmed Textiles
Sunrays Textile Mills Limited 10/25/2024 Entity A- A1 Stable Reaffirmed Textiles
Suraj Cotton Mills Limited 05/07/2025 Entity A+ A1 Stable Reaffirmed Textiles
Tauseef Enterprises (Pvt) Limited 09/19/2024 Entity A- A2 Stable Initial Textiles
The Crescent Textile Mills Limited 04/09/2025 Entity A- A2 Negative Under Review Textiles
Towellers Limited 03/28/2025 Entity A A1 Stable Maintained Textiles
Umar Spinning Mills (Pvt) Limited 04/22/2025 Entity BBB+ A2 Stable Reaffirmed Textiles
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
Utopia Industries (Pvt) Limited 09/10/2024 Entity A- A2 Stable Reaffirmed Textiles
Z.A Corporation (Pvt) Ltd 04/29/2025 Entity BBB+ A2 Stable Reaffirmed Textiles
Zaman Textile Mills (Pvt) Limited 03/12/2025 Entity A- A2 Stable Reaffirmed Textiles
Zephyr Textiles Limited 12/11/2024 Entity BBB+ A2 Stable Maintained Textiles
Veda Transit Solutions (Pvt.) Limited 03/28/2025 Entity D Default Transport