Ratings
Name Date Rating Type Long Term Short Term Outlook/Rating Watch Action Sector
Al Baraka Bank (Pakistan) Limited 07/05/2024 Sukuk 2 A Positive Maintained Commercial Banks
Bank Makramah Limited (Formerly:Summit Bank Limited) 06/27/2023 TFC-1 B Rating Watch - Negative Harmonised Commercial Banks
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
Habib Bank Limited 06/28/2024 TFC-3 AA+ Stable Reaffirmed Commercial Banks
Habib Bank Limited 06/28/2024 TFC-2 AA+ Stable Reaffirmed Commercial Banks
Meezan Bank Limited 07/12/2024 Sukuk 4 AAA Stable Reaffirmed Commercial Banks
Meezan Bank Limited 06/28/2024 Sukuk 3 AAA Stable Reaffirmed Commercial Banks
Meezan Bank Limited 06/28/2024 Sukuk 2 AA+ Stable Reaffirmed Commercial Banks
Silk Bank Limited 03/19/2025 TFC-1 Suspended Commercial Banks
United Bank Limited 06/26/2024 TFC-5 AA+ Stable Reaffirmed Commercial Banks
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
U Microfinance Bank Limited 06/10/2024 TFC-2 A- Stable Reaffirmed Micro Finance
BRR Guardian Modaraba 07/12/2010 TFC-1 D Default Modarabas
Al-Zamin Leasing Corporation Limited 01/09/2013 TFC-2 D Default NBFCs
Saudi Pak Leasing Company Limited 10/05/2010 TFC-1 D Default NBFCs
Eden Housing Ltd. 01/29/2010 TFC-1 D Default Cement & Construction
Javedan Corporation Ltd. 10/09/2024 Sukuk 1 AA- Stable Reaffirmed Cement & Construction
Sitara Chemical Industries Limited 04/24/2025 Sukuk 1 AA- Stable Reaffirmed Chemicals
Shakarganj Food Products Limited 07/03/2024 Sukuk 1 BBB- Stable Downgrade Consumer Goods
Sunridge Foods (Private) Limited 12/26/2024 Sukuk 1 AAA (plim) Stable Preliminary Consumer Goods
OBS AGP (Pvt) Limited 10/31/2024 Sukuk 1 A+ Stable Reaffirmed Medical and Pharmaceutical
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
Telecard Ltd 06/15/2011 TFC-1 D Default Miscellaneous
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
K-Electric Limited 01/23/2025 Sukuk 5 AA+ Stable Reaffirmed Power Companies
Mughal Energy Limited 02/26/2025 Sukuk 1 A+ (plim) Stable Preliminary Power Companies
Neelum Jhelum Hydropower Company (Pvt) Ltd 08/16/2024 Sukuk 1 AAA Stable Note Power Companies
Agha Steel Industries Limited 05/22/2024 Sukuk 3 D Default Steel & Allied Products
Crescent Steel & Allied Products Limited 12/17/2024 Sukuk 1 A- Stable Reaffirmed Steel & Allied Products
Mughal Iron & Steel Industries Limited 02/25/2025 Sukuk 2 AA- (plim) Stable Preliminary Steel & Allied Products
Mughal Iron & Steel Industries Limited 11/18/2024 Sukuk 1 A+ Stable Reaffirmed Steel & Allied Products
Shahmurad Sugar Mills Ltd 08/17/2010 Sukuk 1 A- Stable Reaffirmed Sugar
Al-Karam Textile Mills (Pvt) Limited 08/27/2024 Sukuk 1 A Stable Final Textiles
Amtex Limited 01/04/2011 TFC-1 D Default Textiles
Quetta Textile Mills Ltd 03/30/2012 TFC-1 D Default Textiles