Financial Institutions |
Name |
Date |
Rating Type |
Long Term |
Short Term |
Outlook/Rating Watch |
Action |
Adam Securities Limited |
12/28/2023
|
Entity |
A- |
A2 |
Positive |
Reaffirmed
|
|
Adam Securities Limited |
6/20/2024
|
BFR |
BFR2 |
|
Stable |
Upgrade
|
|
AKD Securities Limited |
5/15/2024
|
BFR |
BFR2++ |
|
Stable |
Reaffirmed
|
|
AKD Securities Limited |
5/20/2024
|
BMR |
BMR1 |
|
Stable |
Reaffirmed
|
|
AKD Securities Limited |
6/21/2024
|
Entity |
AA- |
A1 |
Stable |
Reaffirmed
|
|
AKIK Capital (Pvt) Ltd |
11/28/2023
|
BMR |
BMR3 |
|
Stable |
Reaffirmed
|
|
AKIK Capital (Pvt) Ltd |
8/16/2024
|
BFR |
BFR3 |
|
Stable |
Reaffirmed
|
|
Alpha Capital (Pvt) Limited |
12/1/2023
|
BFR |
BFR3 |
|
Stable |
Initial
|
|
Arif Habib Limited |
11/5/2024
|
Entity |
AA- |
A1 |
Rating Watch - Developing |
Maintained
|
|
BMA Capital Management Limited |
2/1/2024
|
BMR |
BMR2++ |
|
Stable |
Upgrade
|
|
BMA Capital Management Limited |
11/8/2024
|
BFR |
BFR2 |
|
Stable |
Upgrade
|
|
BMA Capital Management Limited |
2/1/2024
|
Entity |
A- |
A2 |
Stable |
Reaffirmed
|
|
Chase Securities Pakistan (Pvt) Limited |
3/13/2024
|
BFR |
BFR3+ |
|
Stable |
Upgrade
|
|
Darson Securities (Pvt) Limited |
12/28/2023
|
BFR |
BFR3+ |
|
Stable |
Initial
|
|
Darson Securities (Pvt) Limited |
8/30/2024
|
Entity |
BBB+ |
A2 |
Stable |
Reaffirmed
|
|
DJM Securities Limited |
5/29/2024
|
BFR |
BFR3 |
|
Stable |
Reaffirmed
|
|
DJM Securities Limited |
5/29/2024
|
BMR |
BMR3+ |
|
Stable |
Reaffirmed
|
|
FDM Capital Securities (Pvt) Ltd |
3/15/2024
|
BFR |
BFR3 |
|
Stable |
Reaffirmed
|
|
FDM Capital Securities (Pvt) Ltd |
3/15/2024
|
BMR |
BMR3++ |
|
Stable |
Reaffirmed
|
|
First National Equities Limited |
10/10/2024
|
BFR |
BFR3+ |
|
Rating Watch - Developing |
Maintained
|
|
Floret Commodities (Pvt) Limited |
8/5/2024
|
BFR |
BFR3 |
|
Stable |
Initial
|
|
Fortune Securities Limited |
2/27/2024
|
BMR |
BMR2 |
|
Stable |
Reaffirmed
|
|
Foundation Securities (Pvt) Limited |
10/17/2024
|
BFR |
BFR3++ |
|
Stable |
Reaffirmed
|
|
Foundation Securities (Pvt) Limited |
1/29/2024
|
Entity |
A |
A2 |
Stable |
Upgrade
|
|
Growth Securities (Pvt) Limited |
10/7/2024
|
Entity |
A- |
A2 |
Stable |
Maintained
|
|
Growth Securities (Pvt) Limited |
8/23/2024
|
BFR |
BFR3+ |
|
Stable |
Initial
|
|
Insight Securities (Pvt) Ltd |
5/14/2024
|
BMR |
BMR2 |
|
Stable |
Reaffirmed
|
|
Insight Securities (Pvt) Ltd |
9/20/2024
|
Entity |
BBB+ |
A2 |
Stable |
Reaffirmed
|
|
Integrated Equities Limited |
3/19/2024
|
BFR |
BFR3++ |
|
Stable |
Reaffirmed
|
|
Integrated Equities Limited |
8/21/2024
|
Entity |
A- |
A2 |
Stable |
Initial
|
|
Intermarket Securities Limited |
8/13/2024
|
Entity |
A- |
A2 |
Rating Watch - Developing |
Maintained
|
|
Intermarket Securities Limited |
7/4/2023
|
BFR |
BFR3+ |
|
Stable |
Initial
|
|
Intermarket Securities Limited |
11/6/2023
|
BMR |
BMR2+ |
|
Stable |
Reaffirmed
|
|
Investment Managers Securities Private Limited |
9/6/2024
|
BMR |
BMR3 |
|
Stable |
Reaffirmed
|
|
MRA Securities Limited |
5/13/2024
|
BFR |
BFR3++ |
|
Stable |
Upgrade
|
|
MRA Securities Limited |
1/24/2024
|
Entity |
A- |
A2 |
Stable |
Maintained
|
|
Muhammad Munir Muhammad Ahmed Khanani Securities Limited |
3/28/2024
|
Entity |
A- |
A2 |
Stable |
Reaffirmed
|
|
Muhammad Munir Muhammad Ahmed Khanani Securities Limited |
5/16/2024
|
BFR |
BFR2 |
|
Stable |
Reaffirmed
|
|
Muhammad Munir Muhammad Ahmed Khanani Securities Limited |
1/16/2024
|
BMR |
BMR2 |
|
Stable |
Reaffirmed
|
|
Multiline Securities Limited |
7/9/2024
|
BFR |
BFR3+ |
|
Stable |
Reaffirmed
|
|
Multiline Securities Limited |
11/6/2023
|
Entity |
A- |
A2 |
Stable |
Reaffirmed
|
|
Next Capital Limited |
11/28/2024
|
Entity |
A- |
A2 |
Stable |
Reaffirmed
|
|
Next Capital Limited |
11/1/2023
|
BMR |
BMR2++ |
|
Stable |
Reaffirmed
|
|
Next Capital Limited |
10/31/2024
|
BFR |
BFR2 |
|
Stable |
Reaffirmed
|
|
Sherman Securities Limited |
9/25/2023
|
BFR |
BFR3+ |
|
Stable |
Initial
|
|
SOS Capital Limited |
6/4/2024
|
BFR |
BFR3 (plim) |
|
Stable |
Preliminary
|
|
Standard Capital Securities (Private) Limited |
5/22/2024
|
BFR |
BFR3 |
|
Stable |
Reaffirmed
|
|
Standard Capital Securities (Private) Limited |
5/22/2024
|
BMR |
BMR2 |
|
Stable |
Reaffirmed
|
|
Summit Capital (Pvt) Limited |
6/28/2024
|
BFR |
BFR3 |
|
Stable |
Initial
|
|
Tannu Securities (Pvt) Limited |
10/11/2023
|
BFR |
BFR3 |
|
Stable |
Initial
|
|
Taurus Securities Limited |
6/28/2024
|
BMR |
BMR2+ |
|
Stable |
Reaffirmed
|
|
Taurus Securities Limited |
6/28/2024
|
BFR |
BFR3+ |
|
Stable |
Reaffirmed
|
|
Taurus Securities Limited |
10/4/2024
|
Entity |
A |
A2 |
Stable |
Maintained
|
|
Topline Securities Limited |
11/25/2024
|
Entity |
A |
A1 |
Stable |
Reaffirmed
|
|
Topline Securities Limited |
3/21/2024
|
BMR |
BMR2++ |
|
Stable |
Upgrade
|
|
Topline Securities Limited |
4/29/2024
|
BFR |
BFR2 |
|
Stable |
Reaffirmed
|
|
Name |
Date |
Rating Type |
Long Term |
Short Term |
Outlook/Rating Watch |
Action |
Al Baraka Bank (Pakistan) Limited |
6/30/2024
|
Sukuk 2 |
A |
|
Positive |
Maintained
|
|
Al Baraka Bank (Pakistan) Limited |
6/30/2024
|
Entity |
A+ |
A1 |
Positive |
Maintained
|
|
Bank Makramah Limited (Formerly:Summit Bank Limited) |
6/7/2023
|
Entity |
|
|
|
Note
|
|
Bank Makramah Limited (Formerly:Summit Bank Limited) |
6/27/2023
|
TFC-1 |
B |
|
Rating Watch - Negative |
Harmonised
|
|
Dubai Islamic Bank Pakistan Ltd |
6/27/2024
|
Sukuk 2 |
A+ |
|
Stable |
Reaffirmed
|
|
Dubai Islamic Bank Pakistan Ltd |
6/27/2024
|
Entity |
AA |
A1+ |
Stable |
Reaffirmed
|
|
Dubai Islamic Bank Pakistan Ltd |
6/27/2024
|
Sukuk 3 |
AA- |
|
Stable |
Reaffirmed
|
|
Faysal Bank Limited |
6/28/2024
|
Entity |
AA |
A1+ |
Positive |
Maintained
|
|
Habib Bank Limited |
6/28/2024
|
TFC-2 |
AA+ |
|
Stable |
Reaffirmed
|
|
Habib Bank Limited |
6/28/2024
|
TFC-3 |
AA+ |
|
Stable |
Reaffirmed
|
|
Habib Bank Limited |
6/28/2024
|
Entity |
AAA |
A1+ |
Stable |
Reaffirmed
|
|
Meezan Bank Limited |
6/28/2024
|
Entity |
AAA |
A1+ |
Stable |
Reaffirmed
|
|
Meezan Bank Limited |
6/28/2024
|
Sukuk 4 |
AAA |
|
Stable |
Reaffirmed
|
|
Meezan Bank Limited |
6/28/2024
|
Sukuk 3 |
AAA |
|
Stable |
Reaffirmed
|
|
Meezan Bank Limited |
6/28/2024
|
Sukuk 2 |
AA+ |
|
Stable |
Reaffirmed
|
|
National Bank of Pakistan |
6/26/2024
|
Entity |
AAA |
A1+ |
Stable |
Reaffirmed
|
|
Silk Bank Limited |
10/22/2024
|
TFC-1 |
B |
|
Rating Watch - Negative |
Harmonised
|
|
Silk Bank Limited |
11/26/2024
|
Entity |
A- |
A2 |
Rating Watch - Developing |
Maintained
|
|
Sindh Bank Ltd |
6/28/2024
|
Entity |
AA- |
A1+ |
Stable |
Upgrade
|
|
The Bank of Khyber |
6/28/2024
|
Entity |
A+ |
A1 |
Stable |
Reaffirmed
|
|
United Bank Limited |
6/26/2024
|
TFC-5 |
AA+ |
|
Stable |
Reaffirmed
|
|
United Bank Limited |
6/26/2024
|
Entity |
AAA |
A1+ |
Stable |
Reaffirmed
|
|
Name |
Date |
Rating Type |
Long Term |
Short Term |
Outlook/Rating Watch |
Action |
House Building Finance Company Limited |
6/4/2024
|
Entity |
AAA |
A1+ |
Stable |
Upgrade
|
|
Pak Brunei Investment Company Limited |
6/28/2024
|
Entity |
AA+ |
A1+ |
Stable |
Reaffirmed
|
|
Pak China Investment Company Limited |
6/28/2024
|
Entity |
AAA |
A1+ |
Stable |
Reaffirmed
|
|
Pak Oman Investment Company Limited |
6/28/2024
|
Entity |
AA+ |
A1+ |
Stable |
Reaffirmed
|
|
Pakistan Mortgage Refinance Company |
4/9/2024
|
Entity |
AAA |
A1+ |
Stable |
Reaffirmed
|
|
Saudi Pak Industrial and Agricultural Investment Company Limited |
6/28/2024
|
Entity |
AA+ |
A1+ |
Stable |
Reaffirmed
|
|
Zarai Taraqiati Bank Limited |
6/27/2024
|
Entity |
AAA |
A1+ |
Stable |
Reaffirmed
|
|
Name |
Date |
Rating Type |
Long Term |
Short Term |
Outlook/Rating Watch |
Action |
Pakistan Currency Exchange Company (Private) Limited |
11/28/2024
|
Entity |
A- |
A2 |
Stable |
Reaffirmed
|
|
Name |
Date |
Rating Type |
Long Term |
Short Term |
Outlook/Rating Watch |
Action |
Alpha Insurance Company Limited |
2/1/2024
|
IFS |
A+ (IFS) |
|
Stable |
Reaffirmed
|
|
Askari General Insurance Company Limited |
2/29/2024
|
IFS |
AA+ (IFS) |
|
Stable |
Initial
|
|
Century Insurance Company Limited |
12/27/2023
|
IFS |
AA (IFS) |
|
Stable |
Reaffirmed
|
|
Chubb Insurance Pakistan Limited |
12/4/2023
|
IFS |
AA+ (IFS) |
|
Stable |
Reaffirmed
|
|
EFU General Insurance Limited |
1/3/2024
|
IFS |
AA++ (IFS) |
|
Stable |
Reaffirmed
|
|
EFU Life Assurance Limited |
12/29/2023
|
IFS |
AA++ (IFS) |
|
Stable |
Reaffirmed
|
|
IGI General Insurance Limited |
12/22/2023
|
IFS |
AA+ (IFS) |
|
Stable |
Reaffirmed
|
|
Jubilee General Insurance Company Limited |
12/4/2023
|
IFS |
AA++ (IFS) |
|
Stable |
Reaffirmed
|
|
Jubilee Life Insurance Company Limited |
2/22/2024
|
IFS |
AA++ (IFS) |
|
Stable |
Reaffirmed
|
|
Pak-Qatar Family Takaful Limited |
12/7/2023
|
IFS |
A++ (IFS) |
|
Stable |
Reaffirmed
|
|
Pak-Qatar General Takaful Limited |
3/13/2024
|
IFS |
A (IFS) |
|
Stable |
Reaffirmed
|
|
Pakistan Reinsurance Company Limited |
2/27/2024
|
IFS |
AA+ (IFS) |
|
Stable |
Reaffirmed
|
|
Reliance Insurance Company Limited |
1/2/2024
|
IFS |
A+ (IFS) |
|
Stable |
Reaffirmed
|
|
Security General Insurance Company Limited |
12/26/2023
|
IFS |
AA+ (IFS) |
|
Stable |
Reaffirmed
|
|
The Co-operative Insurance Society of Pakistan Limited |
1/2/2024
|
IFS |
BB+ (IFS) |
|
Stable |
Reaffirmed
|
|
The United Insurance Company of Pakistan Limited |
8/5/2024
|
IFS |
AA+ (IFS) |
|
Stable |
Reaffirmed
|
|
UBL Insurers Limited |
12/19/2023
|
IFS |
AA+ (IFS) |
|
Stable |
Reaffirmed
|
|
Name |
Date |
Rating Type |
Long Term |
Short Term |
Outlook/Rating Watch |
Action |
First Credit and Investment Bank Limited |
2/26/2024
|
Entity |
A |
A2 |
Stable |
Reaffirmed
|
|
Name |
Date |
Rating Type |
Long Term |
Short Term |
Outlook/Rating Watch |
Action |
Pak-Gulf Leasing Company Limited |
9/21/2023
|
Entity |
A- |
A2 |
Stable |
Reaffirmed
|
|
Primus Leasing Limited |
11/12/2024
|
Entity |
A+ |
A1 |
Stable |
Reaffirmed
|
|
Name |
Date |
Rating Type |
Long Term |
Short Term |
Outlook/Rating Watch |
Action |
CSC Empowerment & Inclusion Programme (MFI) |
2/22/2024
|
Entity |
BBB- |
A3 |
Stable |
Initial
|
|
FINCA Microfinance Bank Limited |
4/30/2024
|
Entity |
A- |
A2 |
Rating Watch - Developing |
Maintained
|
|
Halan Microfinance Bank Limited (Formerly: Advans Pakistan Microfinance Bank Ltd) |
4/30/2024
|
Entity |
BBB |
A3 |
Positive |
Maintained
|
|
HBL Microfinance Bank Limited (Formerly:The First MicroFinanceBank Limited) |
4/30/2024
|
Entity |
A+ |
A1 |
Stable |
Reaffirmed
|
|
Khushhali Microfinance Bank Limited |
5/30/2024
|
Entity |
A- |
A2 |
Rating Watch - Negative |
Reaffirmed
|
|
Khushhali Microfinance Bank Limited |
5/30/2024
|
TFC-1 |
B |
|
Negative |
Maintained
|
|
Khushhali Microfinance Bank Limited |
5/30/2024
|
TFC-2 |
B |
|
Negative |
Maintained
|
|
LOLC Microfinance Bank Limited (Formerly: Pak Oman Microfinance Bank Limited) |
5/7/2024
|
Entity |
A- |
A2 |
Stable |
Maintained
|
|
Mobilink Microfinance Bank Limited |
5/7/2024
|
Entity |
A |
A1 |
Stable |
Reaffirmed
|
|
NRSP Micro Finance Bank Ltd |
5/6/2024
|
Entity |
A- |
A2 |
Stable |
Upgrade
|
|
U Microfinance Bank Limited |
6/10/2024
|
Entity |
A+ |
A1 |
Stable |
Reaffirmed
|
|
U Microfinance Bank Limited |
6/10/2024
|
TFC-2 |
A- |
|
Stable |
Reaffirmed
|
|
Name |
Date |
Rating Type |
Long Term |
Short Term |
Outlook/Rating Watch |
Action |
First Paramount Modaraba |
12/13/2023
|
Entity |
BBB |
A3 |
Stable |
Reaffirmed
|
|
Sindh Modaraba |
11/13/2024
|
Entity |
A+ |
A1 |
Stable |
Reaffirmed
|
|
Trust Modaraba |
5/13/2024
|
Entity |
BBB+ |
A2 |
Stable |
Reaffirmed
|
|
Name |
Date |
Rating Type |
Long Term |
Short Term |
Outlook/Rating Watch |
Action |
CDC Share Registrar Services Limited |
12/12/2023
|
Entity |
A |
A1 |
Stable |
Reaffirmed
|
|
Cyan Limited |
1/24/2024
|
Entity |
A |
A1 |
Stable |
Maintained
|
|
DAMEN Support Programme |
4/17/2024
|
Entity |
BBB- |
A3 |
Stable |
Initial
|
|
LSE Financial Services Limited |
3/8/2024
|
Entity |
A |
A1 |
Rating Watch - Developing |
Reaffirmed
|
|
Rural Community Development Programs |
5/2/2024
|
Entity |
BBB+ |
A3 |
Stable |
Upgrade
|
|
Taleem Finance Company Limited |
9/11/2024
|
Entity |
BBB |
A2 |
Stable |
Initial
|
|
Trukkr Financial Services Limited |
8/12/2024
|
Entity |
A- |
A2 |
Stable |
Initial
|
|
Corporates |
Name |
Date |
Rating Type |
Long Term |
Short Term |
Outlook/Rating Watch |
Action |
Agriauto Industries Limited |
11/26/2024
|
Entity |
A- |
A1 |
Stable |
Reaffirmed
|
|
Agriauto Stamping Company (Pvt) Limited |
4/1/2024
|
Entity |
A- |
A2 |
Stable |
Reaffirmed
|
|
Al-Ghazi Tractors Ltd. |
10/3/2024
|
Entity |
A+ |
A1 |
Stable |
Reaffirmed
|
|
Indus Motor Company Ltd |
11/15/2024
|
Entity |
AA+ |
A1+ |
Stable |
Reaffirmed
|
|
Master Changan Motors Limited |
1/23/2024
|
Entity |
A- |
A2 |
Stable |
Reaffirmed
|
|
Omar Jibran Engineering Industries Limited |
2/19/2024
|
Entity |
BBB+ |
A2 |
Stable |
Downgrade
|
|
Procon Engineering (Pvt) Limited |
5/22/2024
|
Entity |
A |
A2 |
Stable |
Maintained
|
|
Sazgar Engineering Works Limited |
1/25/2024
|
Entity |
A |
A2 |
Stable |
Initial
|
|
Thal Limited |
1/15/2024
|
Entity |
AA |
A1+ |
Stable |
Reaffirmed
|
|
Name |
Date |
Rating Type |
Long Term |
Short Term |
Outlook/Rating Watch |
Action |
Dolmen (Pvt) Limited |
5/23/2023
|
Entity |
A- |
A2 |
Stable |
Initial
|
|
Enertech Water (Pvt) Limited |
6/6/2024
|
Entity |
AA |
A1 |
Stable |
Initial
|
|
Ghotki Kandhkot Road & Bridge Co. (Pvt) Limited |
7/31/2024
|
Entity |
A |
A2 |
Stable |
Reaffirmed
|
|
Ghotki Kandhkot Road & Bridge Co. (Pvt) Limited |
7/31/2024
|
BLR |
AA (blr, plim) |
|
Stable |
Preliminary
|
|
Izhar Construction (Pvt) Limited |
3/27/2024
|
Entity |
A |
A1 |
Stable |
Upgrade
|
|
Javedan Corporation Ltd. |
10/9/2024
|
Entity |
A+ |
A1 |
Stable |
Reaffirmed
|
|
Javedan Corporation Ltd. |
10/9/2024
|
Sukuk 1 |
AA- |
|
Stable |
Reaffirmed
|
|
Lahore Sialkot Motorway Infrastructure Management (Pvt) Ltd |
12/27/2023
|
Entity |
A- |
A2 |
Stable |
Reaffirmed
|
|
Lucky Cement Limited |
11/8/2024
|
Entity |
AA+ |
A1+ |
Stable |
Reaffirmed
|
|
Malir Expressway Limited |
11/20/2024
|
Entity |
A- |
A2 |
Stable |
Reaffirmed
|
|
Maple Leaf Cement Factory Ltd |
10/11/2024
|
Entity |
A |
A1 |
Stable |
Reaffirmed
|
|
Power Cement Ltd |
12/27/2023
|
Entity |
A- |
A2 |
Stable |
Reaffirmed
|
|
Sachal Engineering Works (Pvt) Limited |
11/18/2024
|
Entity |
A- |
A2 |
Stable |
Reaffirmed
|
|
Swat Expressway Planning Construction and Operations (Pvt) Limited |
12/5/2024
|
Entity |
A- |
A2 |
Stable |
Reaffirmed
|
|
Thatta Cement Company Ltd |
9/12/2024
|
Entity |
A |
A2 |
Stable |
Upgrade
|
|
Name |
Date |
Rating Type |
Long Term |
Short Term |
Outlook/Rating Watch |
Action |
Archroma Pakistan Ltd |
9/3/2024
|
Entity |
AA |
A1 |
Negative |
Maintained
|
|
Gamalux Oleochemicals Limited |
8/26/2024
|
Entity |
A- |
A2 |
Stable |
Reaffirmed
|
|
Ittehad Chemicals Limited |
4/2/2024
|
Entity |
A- |
A2 |
Stable |
Reaffirmed
|
|
Lucky Core Industries Limited (Formerly ICI Pakistan Limited) |
2/28/2024
|
Entity |
AA |
A1+ |
Stable |
Maintained
|
|
Power Chemical Industries Limited |
6/24/2024
|
Entity |
A- |
A2 |
Stable |
Reaffirmed
|
|
Sitara Chemical Industries Limited |
6/14/2024
|
Entity |
A+ |
A2 |
Stable |
Reaffirmed
|
|
Sitara Chemical Industries Limited |
6/14/2024
|
Sukuk 1 |
AA- |
|
Stable |
Preliminary
|
|
Name |
Date |
Rating Type |
Long Term |
Short Term |
Outlook/Rating Watch |
Action |
Engro Enfrashare (Pvt) Ltd |
10/21/2024
|
Entity |
A- |
A2 |
Stable |
Reaffirmed
|
|
Pak Telecom Mobile Limited |
11/22/2023
|
Entity |
AA- |
A1 |
Stable |
Reaffirmed
|
|
Pakistan Telecommunication Company Limited |
11/7/2023
|
Entity |
AAA |
A1+ |
Stable |
Reaffirmed
|
|
Pakistan Telecommunication Company Limited |
7/8/2024
|
STS-4 |
|
A1+ |
|
Final
|
|
Pakistan Telecommunication Company Limited |
7/29/2024
|
STS-5 |
|
A1+ |
|
Final
|
|
Pakistan Telecommunication Company Limited |
9/16/2024
|
STS-6 |
|
A1+ |
|
Final
|
|
Pakistan Telecommunication Company Limited |
11/28/2024
|
STS-7 |
|
A1+ |
|
Final
|
|
Pakistan Telecommunication Company Limited |
5/27/2024
|
STS-3 |
|
A1+ |
|
Final
|
|
Tower Power (Pvt) Limited |
2/21/2024
|
Entity |
A- |
A2 |
Stable |
Reaffirmed
|
|
Name |
Date |
Rating Type |
Long Term |
Short Term |
Outlook/Rating Watch |
Action |
Agro Processors and Atmospheric Gases Limited |
9/11/2024
|
Entity |
BBB+ |
A2 |
Stable |
Upgrade
|
|
Asian Food Industries Limited |
2/21/2024
|
Entity |
A- |
A2 |
Stable |
Initial
|
|
At-Tahur Limited |
6/10/2024
|
Entity |
A- |
A2 |
Stable |
Maintained
|
|
At-Tahur Limited |
8/12/2024
|
STS |
|
A1 |
|
Preliminary
|
|
Bismillah Sehla Processing Plant (Pvt) Limited |
9/13/2023
|
Entity |
BBB+ |
A2 |
Stable |
Initial
|
|
Bunny's Limited |
4/6/2023
|
Entity |
A- |
A2 |
Stable |
Reaffirmed
|
|
Dairyland (Pvt) Limited |
11/17/2023
|
Entity |
A- |
A2 |
Positive |
Reaffirmed
|
|
Everfresh Farms (Pvt) Limited |
8/2/2024
|
Entity |
A- |
A2 |
Stable |
Upgrade
|
|
Faisalabad Oil Refinery (Pvt) Limited |
8/16/2024
|
Entity |
A- |
A2 |
Stable |
Reaffirmed
|
|
Garibsons (Pvt) Ltd. |
3/1/2024
|
Entity |
A |
A2 |
Stable |
Upgrade
|
|
Golden Harvest Foods (Pvt) Limited |
11/14/2024
|
Entity |
BBB+ |
A2 |
Stable |
Reaffirmed
|
|
Haleeb Foods Limited |
1/23/2024
|
Entity |
A- |
A1 |
Stable |
Upgrade
|
|
Ittefaq Agro Industries (Pvt) Limited |
5/2/2024
|
Entity |
A- |
A2 |
Stable |
Initial
|
|
JK Dairies (Pvt) Limited |
12/22/2023
|
Entity |
BBB+ |
A2 |
Stable |
Reaffirmed
|
|
Karachi Grain (Pvt) Limited |
6/11/2024
|
Entity |
BBB+ |
A2 |
Stable |
Reaffirmed
|
|
Kausar Ghee Mills (Pvt) Limited |
8/8/2023
|
Entity |
A- |
A2 |
Stable |
Reaffirmed
|
|
Madina Oil Refinery Limited |
4/9/2024
|
Entity |
BBB |
A2 |
Stable |
Upgrade
|
|
Madina Private Limited |
7/30/2024
|
Entity |
BBB |
A2 |
Stable |
Reaffirmed
|
|
Matco Foods Limited |
12/29/2023
|
Entity |
BBB+ |
A2 |
Stable |
Reaffirmed
|
|
Olympia Oils (Pvt) Limited |
12/6/2023
|
Entity |
A- |
A2 |
Stable |
Reaffirmed
|
|
Shakarganj Food Products Limited |
7/3/2024
|
Entity |
BBB- |
A3 |
Stable |
Maintained
|
|
Shakarganj Food Products Limited |
7/3/2024
|
Sukuk 1 |
BBB- |
|
Stable |
Downgrade
|
|
Staple Foods Private Limited |
5/8/2024
|
Entity |
A |
A1 |
Stable |
Upgrade
|
|
Sunridge Foods (Private) Limited |
9/10/2024
|
Entity |
BBB+ |
A3 |
Stable |
Initial
|
|
The Organic Meat Company Limited |
7/2/2024
|
Entity |
A |
A1 |
Stable |
Upgrade
|
|
Treet Corporation Limited |
12/15/2023
|
Entity |
A- |
A2 |
Stable |
Maintained
|
|
Unity Foods Limited |
11/1/2023
|
Entity |
A |
A2 |
Negative |
Reaffirmed
|
|
Name |
Date |
Rating Type |
Long Term |
Short Term |
Outlook/Rating Watch |
Action |
Digital World Pakistan (Pvt) Limited |
6/7/2024
|
Entity |
A- |
A2 |
Stable |
Maintained
|
|
DWP Technologies (Pvt) Limited |
6/7/2024
|
Entity |
A- |
A2 |
Stable |
Reaffirmed
|
|
EMCO Industries Limited |
12/5/2023
|
Entity |
A- |
A2 |
Stable |
Reaffirmed
|
|
Fast Cables Limited |
11/21/2024
|
Entity |
A |
A2 |
Stable |
Upgrade
|
|
Mannan Shahid Forgings Limited |
5/6/2024
|
Entity |
A |
A2 |
Stable |
Upgrade
|
|
Orient Electronics (Pvt) Limited |
5/23/2024
|
Entity |
A- |
A2 |
Negative |
Maintained
|
|
Pakistan Cables Limited |
11/20/2024
|
Entity |
A |
A1 |
Negative |
Reaffirmed
|
|
The Imperial Electric Company (Pvt) Limited |
1/31/2024
|
Entity |
A- |
A2 |
Positive |
Maintained
|
|
Transfopower Industries (Pvt) Limited |
3/13/2024
|
Entity |
A- |
A2 |
Stable |
Initial
|
|
Name |
Date |
Rating Type |
Long Term |
Short Term |
Outlook/Rating Watch |
Action |
Fatima Fertilizer Company Limited |
9/3/2024
|
Entity |
AA+ |
A1+ |
Stable |
Reaffirmed
|
|
Fauji Fertilizer Bin Qasim Limited |
5/6/2024
|
Entity |
AA+ |
A1+ |
Stable |
Upgrade
|
|
Medical and Pharmaceutical |
Name |
Date |
Rating Type |
Long Term |
Short Term |
Outlook/Rating Watch |
Action |
Aspin Pharma (Pvt) Limited |
11/4/2024
|
Entity |
A |
A1 |
Stable |
Reaffirmed
|
|
Highnoon Laboratories Ltd |
9/20/2023
|
Entity |
A+ |
A1 |
Positive |
Initial
|
|
Macter International Limited |
8/2/2024
|
Entity |
A |
A1 |
Stable |
Upgrade
|
|
Noventa Pharma (Private) Limited |
11/13/2024
|
Entity |
A |
A2 |
Stable |
Initial
|
|
OBS AGP (Pvt) Limited |
10/31/2024
|
Entity |
A |
A1 |
Stable |
Reaffirmed
|
|
OBS AGP (Pvt) Limited |
10/31/2024
|
Sukuk 1 |
A+ |
|
Stable |
Reaffirmed
|
|
OBS Pakistan (Pvt) Limited |
11/5/2024
|
Sukuk 1 |
A+ |
|
Stable |
Reaffirmed
|
|
OBS Pakistan (Pvt) Limited |
11/5/2024
|
Sukuk 2 |
A+ |
|
Stable |
Reaffirmed
|
|
OBS Pakistan (Pvt) Limited |
11/5/2024
|
Entity |
A |
A2 |
Stable |
Reaffirmed
|
|
OBS Pharma (Pvt) Limited |
9/23/2024
|
STS-2 |
|
A1 (plim) |
|
Preliminary
|
|
OBS Pharma (Pvt) Limited |
9/23/2024
|
Entity |
A |
A1 |
Stable |
Reaffirmed
|
|
OBS Pharma (Pvt) Limited |
9/23/2024
|
BLR |
A+ (blr) |
|
Stable |
Reaffirmed
|
|
Shifa International Hospitals Limited |
2/1/2024
|
Entity |
AA- |
A1 |
Stable |
Reaffirmed
|
|
The Searle Company Limited |
7/10/2024
|
Entity |
AA- |
A1 |
Stable |
Maintained
|
|
Name |
Date |
Rating Type |
Long Term |
Short Term |
Outlook/Rating Watch |
Action |
Ana & Batla Industries (Pvt) Ltd |
9/12/2024
|
Entity |
BBB |
A2 |
Stable |
Reaffirmed
|
|
Associated Technologies (Pvt) Limited |
9/25/2023
|
Entity |
A- |
A2 |
Stable |
Reaffirmed
|
|
Avari Hotels (Pvt.) Limited |
8/8/2024
|
BLR |
AA (blr) |
|
Stable |
Reaffirmed
|
|
Biotech Energy (Pvt) Limited |
9/21/2023
|
Entity |
A |
A1 |
Stable |
Upgrade
|
|
Devsinc (Pvt) Limited |
10/31/2024
|
Entity |
BBB+ |
A2 |
Stable |
Initial
|
|
HKB Retail (SMC-Pvt) Limited |
1/11/2024
|
Entity |
A- |
A3 |
Stable |
Reaffirmed
|
|
Lahore Grammer School (Pvt) Ltd |
11/29/2023
|
Entity |
A- |
A2 |
Stable |
Initial
|
|
Maple Leaf Capital Limited |
12/21/2023
|
Entity |
A- |
A1 |
Stable |
Initial
|
|
MicroTech Industries (Pvt) Limited |
7/12/2024
|
Entity |
A- |
A2 |
Stable |
Initial
|
|
Optimus Limited |
11/4/2024
|
Entity |
BBB+ |
A2 |
Stable |
Reaffirmed
|
|
Service Sales Corporation (Pvt) Limited |
5/20/2024
|
Entity |
A- |
A2 |
Stable |
Initial
|
|
Shirazi Investments (Pvt) Limited |
1/24/2024
|
Entity |
AA |
A1+ |
Stable |
Upgrade
|
|
Transsion Tecno Electronics (Pvt) Limited |
4/19/2024
|
Entity |
A- |
A2 |
Stable |
Upgrade
|
|
Name |
Date |
Rating Type |
Long Term |
Short Term |
Outlook/Rating Watch |
Action |
Hi-Tech Lubricants Limited |
1/18/2024
|
Entity |
A- |
A2 |
Stable |
Downgrade
|
|
Oil & Gas Development Company Limited |
12/4/2024
|
Entity |
AAA |
A1+ |
Stable |
Reaffirmed
|
|
Oil Industries Pakistan Limited |
11/21/2024
|
Entity |
A- |
A2 |
Stable |
Reaffirmed
|
|
Pakistan State Oil Company Limited |
1/19/2024
|
Entity |
AA+ |
A1+ |
Stable |
Reaffirmed
|
|
PGP Consortium Limited |
9/10/2024
|
Entity |
A |
A2 |
Stable |
Upgrade
|
|
PGP Consortium Limited |
9/10/2024
|
Sukuk 1 |
AA- (plim) |
|
Stable |
Preliminary
|
|
PGP Consortium Limited |
9/10/2024
|
Pref Share |
BBB+ |
|
Stable |
Upgrade
|
|
Servo Motor Oil (Pvt) Limited |
11/13/2023
|
Entity |
BBB |
A2 |
Stable |
Reaffirmed
|
|
Sui Northern Gas Pipelines Limited |
12/1/2023
|
Entity |
AA+ |
A1+ |
Stable |
Reaffirmed
|
|
Taj Gasoline (Pvt.) Limited |
8/20/2024
|
Entity |
A |
A2 |
Stable |
Upgrade
|
|
Zoom Marketing Oils (Pvt) Limited |
2/27/2024
|
Entity |
BBB- |
A3 |
Positive |
Maintained
|
|
Zoom Petroleum (Pvt) Limited |
2/28/2024
|
Entity |
BBB- |
A3 |
Stable |
Reaffirmed
|
|
Name |
Date |
Rating Type |
Long Term |
Short Term |
Outlook/Rating Watch |
Action |
CBM Plastics (Pvt) Limited |
11/22/2024
|
Entity |
BBB+ |
A2 |
Positive |
Maintained
|
|
Century Paper & Board Mills Limited |
2/26/2024
|
Entity |
AA- |
A1 |
Stable |
Reaffirmed
|
|
International Packaging Films Ltd |
10/5/2023
|
Entity |
A |
A1 |
Stable |
Reaffirmed
|
|
K.S.F Tri Zone Industries (Pvt) Ltd |
7/30/2024
|
Entity |
BBB+ |
A2 |
Stable |
Reaffirmed
|
|
Kompass Pakistan (Pvt) Ltd |
1/31/2024
|
Entity |
BBB+ |
A2 |
Positive |
Maintained
|
|
Novatex Limited |
2/22/2024
|
Entity |
AA |
A1+ |
Positive |
Maintained
|
|
Syntronics Limited |
4/8/2024
|
Entity |
BBB+ |
A2 |
Stable |
Reaffirmed
|
|
Name |
Date |
Rating Type |
Long Term |
Short Term |
Outlook/Rating Watch |
Action |
AJ Power (Pvt) Ltd |
8/19/2024
|
Entity |
A+ |
A2 |
Stable |
Upgrade
|
|
Artistic Energy (Pvt) Ltd |
5/14/2024
|
Entity |
A+ |
A1 |
Stable |
Reaffirmed
|
|
Artistic Wind Power Pvt Ltd |
5/14/2024
|
Entity |
A |
A2 |
Stable |
Reaffirmed
|
|
Atlas Solar Limited (Formerly: Zhenfa Pakistan New Energy Company Limited) |
12/26/2023
|
Entity |
A |
A2 |
Stable |
Reaffirmed
|
|
Engro Powergen Qadirpur Limited |
9/4/2024
|
Entity |
AA- |
A1 |
Stable |
Maintained
|
|
FFBL Power Company Ltd |
12/20/2023
|
Entity |
AA- |
A1 |
Stable |
Reaffirmed
|
|
Gharo Solar Ltd |
9/26/2024
|
Entity |
A+ |
A1 |
Stable |
Upgrade
|
|
Gujranwala Electric Power Company |
11/7/2024
|
Entity |
AA- |
A1 |
Stable |
Initial
|
|
Indus Wind Energy Limited |
9/10/2024
|
Entity |
A |
A2 |
Stable |
Reaffirmed
|
|
K-Electric Limited |
5/31/2024
|
STS-25 |
|
A1+ |
|
Final
|
|
K-Electric Limited |
6/13/2024
|
STS-26 |
|
A1+ |
|
Final
|
|
K-Electric Limited |
10/10/2024
|
STS-27 |
|
A1+ |
|
Final
|
|
K-Electric Limited |
6/3/2024
|
Sukuk 5 |
AA+ |
|
Stable |
Note
|
|
K-Electric Limited |
6/3/2024
|
Sukuk 6 |
AA+ |
|
Stable |
Note
|
|
K-Electric Limited |
6/3/2024
|
Entity |
AA |
A1+ |
Stable |
Note
|
|
Kot Addu Power Company Limited |
1/8/2024
|
Entity |
A+ |
A1 |
Rating Watch - Developing |
Downgrade
|
|
Lakeside Energy Limited |
8/17/2023
|
Entity |
A- |
A2 |
Stable |
Initial
|
|
Liberty Daharki Power Limited (Formerly: TNB Liberty Power Limited) |
11/29/2023
|
Entity |
A+ |
A1 |
Stable |
Reaffirmed
|
|
Lucky Renewables (Pvt) Limited (Formerly: Tricom Wind Power (Pvt) Limited) |
12/20/2023
|
Entity |
A |
A2 |
Stable |
Reaffirmed
|
|
Maple Leaf Power Limited |
9/23/2024
|
Entity |
A |
A1 |
Stable |
Initial
|
|
Mughal Energy Limited |
7/5/2024
|
Sukuk 1 |
A+ (plim) |
|
Stable |
Preliminary
|
|
NASDA Green Energy Limited |
10/10/2024
|
Entity |
A- |
A2 |
Stable |
Reaffirmed
|
|
National Power Parks Management Company (Pvt) Limited |
12/6/2024
|
Entity |
AA+ |
A1+ |
Stable |
Maintained
|
|
Neelum Jhelum Hydropower Company (Pvt) Ltd |
8/16/2024
|
Sukuk 1 |
AAA |
|
Stable |
Note
|
|
Nishat Chunian Power Limited |
11/25/2024
|
Entity |
A+ |
A2 |
Stable |
Reaffirmed
|
|
Punjab Thermal Power (Pvt) Limited |
10/2/2024
|
Entity |
AA |
A1 |
Stable |
Reaffirmed
|
|
Quaid-e-Azam Thermal Power (Pvt) Limited |
9/23/2024
|
Entity |
AA+ |
A1+ |
Stable |
Upgrade
|
|
Rousch (Pakistan) Power Limited |
10/25/2024
|
Entity |
AA |
A1 |
Rating Watch - Developing |
Maintained
|
|
Thal Power (Pvt) Limited |
12/22/2023
|
Entity |
AA |
A1+ |
Stable |
Reaffirmed
|
|
Yunus Energy Limited |
7/3/2024
|
Entity |
A+ |
A1 |
Stable |
Reaffirmed
|
|
Zephyr Power Limited |
4/18/2024
|
Entity |
A+ |
A1 |
Stable |
Reaffirmed
|
|
Name |
Date |
Rating Type |
Long Term |
Short Term |
Outlook/Rating Watch |
Action |
Agha Steel Industries Limited |
5/22/2024
|
Sukuk 3 |
D |
|
|
Default
|
|
Agha Steel Industries Limited |
5/22/2024
|
Entity |
CCC |
C |
Negative |
Downgrade
|
|
Aisha Steel Mills Limited |
1/1/2024
|
Entity |
BBB+ |
A2 |
Stable |
Maintained
|
|
BBJ Pipe Industries Limited |
1/2/2024
|
Entity |
BBB |
A2 |
Stable |
Maintained
|
|
Crescent Steel & Allied Products Limited |
12/13/2023
|
Entity |
A- |
A2 |
Stable |
Maintained
|
|
Crescent Steel & Allied Products Limited |
12/13/2023
|
Sukuk 1 |
A- |
|
Stable |
Maintained
|
|
Faizan Steel |
1/31/2024
|
Entity |
BBB+ |
A2 |
Stable |
Maintained
|
|
Frontier Foundry Steel Limited |
7/24/2024
|
Entity |
A |
A1 |
Stable |
Reaffirmed
|
|
International Industries Limited |
10/22/2024
|
Entity |
AA- |
A1 |
Stable |
Reaffirmed
|
|
International Steels Limited |
10/29/2024
|
Entity |
A+ |
A1 |
Stable |
Reaffirmed
|
|
Mehboob Steel Pipe Industry |
4/22/2024
|
Entity |
BBB |
A2 |
Stable |
Upgrade
|
|
Mughal Iron & Steel Industries Limited |
11/18/2024
|
Entity |
A+ |
A1 |
Stable |
Reaffirmed
|
|
Mughal Iron & Steel Industries Limited |
11/18/2024
|
Sukuk 1 |
A+ |
|
Stable |
Reaffirmed
|
|
Naveena Steels Mills (Pvt) Limited |
7/9/2024
|
Entity |
A- |
A2 |
Negative |
Maintained
|
|
Storage and Distribution |
Name |
Date |
Rating Type |
Long Term |
Short Term |
Outlook/Rating Watch |
Action |
Ali Gohar & Company (Pvt) Ltd |
1/30/2024
|
Entity |
A |
A2 |
Stable |
Reaffirmed
|
|
Muller & Phipps Pakistan (Pvt) Limited |
9/9/2024
|
Entity |
A+ |
A1 |
Stable |
Reaffirmed
|
|
Popular International (Pvt) Limited |
12/8/2023
|
Entity |
A |
A1 |
Stable |
Reaffirmed
|
|
Premier Sales (Pvt) Limited |
9/11/2024
|
Entity |
A |
A1 |
Stable |
Reaffirmed
|
|
Tech Sirat (Pvt) Limited |
2/22/2024
|
Entity |
BBB+ |
A2 |
Stable |
Initial
|
|
Name |
Date |
Rating Type |
Long Term |
Short Term |
Outlook/Rating Watch |
Action |
Adam Sugar Mills Limited |
5/21/2024
|
Entity |
A- |
A2 |
Stable |
Reaffirmed
|
|
Al-Noor Sugar Mills Ltd. |
8/26/2024
|
Entity |
A- |
A2 |
Stable |
Maintained
|
|
Alliance Sugar Mills (Pvt) Limited |
2/7/2024
|
Entity |
A- |
A2 |
Stable |
Reaffirmed
|
|
Almoiz Industries Ltd |
9/13/2024
|
Entity |
A |
A2 |
Stable |
Reaffirmed
|
|
Ashraf Sugar Mills Limited |
4/26/2024
|
Entity |
A- |
A2 |
Stable |
Reaffirmed
|
|
Chashma Sugar Mills Ltd |
9/6/2024
|
Entity |
A- |
A2 |
Stable |
Reaffirmed
|
|
Deharki Sugar Mills (Pvt) Limited |
5/13/2024
|
Entity |
A |
A2 |
Stable |
Reaffirmed
|
|
Etihad Sugar Mills Limited |
2/21/2024
|
Entity |
A |
A2 |
Stable |
Upgrade
|
|
Faran Sugar Mills Limited |
12/29/2023
|
Entity |
A- |
A2 |
Stable |
Maintained
|
|
Fatima Sugar Mills Limited |
12/22/2023
|
Entity |
A- |
A2 |
Stable |
Reaffirmed
|
|
Indus Sugar Mills Limited |
10/16/2024
|
Entity |
A- |
A1 |
Stable |
Reaffirmed
|
|
JDW Sugar Mills Ltd |
5/13/2024
|
Entity |
AA- |
A1 |
Stable |
Upgrade
|
|
JK Sugar Mills (Pvt) Limited |
5/13/2024
|
Entity |
BBB+ |
A2 |
Stable |
Upgrade
|
|
Madina Sugar Mills Limited |
8/13/2024
|
Entity |
A- |
A2 |
Stable |
Reaffirmed
|
|
Ranipur Sugar Mills (Pvt) Limited |
11/12/2024
|
Entity |
A- |
A2 |
Stable |
Initial
|
|
RYK Mills Limited |
9/19/2024
|
Entity |
A |
A2 |
Positive |
Reaffirmed
|
|
RYK Mills Limited |
9/20/2024
|
STS |
|
A1 (plim) |
|
Preliminary
|
|
Shahmurad Sugar Mills Ltd |
8/26/2024
|
Entity |
A |
A2 |
Positive |
Maintained
|
|
Shahtaj Sugar Mills Limited |
6/14/2024
|
Entity |
A- |
A2 |
Stable |
Initial
|
|
Sheikhoo Sugar Mills Limited |
8/5/2024
|
Entity |
A- |
A2 |
Stable |
Reaffirmed
|
|
Tariq Corporation Limited |
2/19/2024
|
Entity |
BBB |
A3 |
Stable |
Initial
|
|
The Thal Industries Corporation Limited |
9/16/2024
|
Entity |
A |
A2 |
Positive |
Reaffirmed
|
|
Two Star Industries (Pvt) Limited |
11/17/2023
|
Entity |
BBB+ |
A2 |
Stable |
Reaffirmed
|
|
Tanneries and Leather Products |
Name |
Date |
Rating Type |
Long Term |
Short Term |
Outlook/Rating Watch |
Action |
Muhammad Shafi Tanneries (Pvt) Ltd |
3/5/2024
|
Entity |
BBB+ |
A2 |
Stable |
Reaffirmed
|
|
Shafi Lifestyle (Pvt) Ltd |
1/11/2024
|
Entity |
A- |
A2 |
Stable |
Reaffirmed
|
|
Universal Leather (Pvt) Ltd. |
2/29/2024
|
Entity |
BBB |
A3 |
Positive |
Maintained
|
|
Name |
Date |
Rating Type |
Long Term |
Short Term |
Outlook/Rating Watch |
Action |
AA Spinning Mills Limited |
12/27/2023
|
Entity |
A- |
A2 |
Stable |
Reaffirmed
|
|
AGI Denim |
6/11/2024
|
Entity |
A+ |
A1 |
Stable |
Upgrade
|
|
Ahmed Oriental Textile Mills Limited |
1/15/2024
|
Entity |
A- |
A2 |
Negative |
Reaffirmed
|
|
Akhtar Textile Industries (Pvt) Ltd |
7/30/2024
|
Entity |
A |
A2 |
Stable |
Reaffirmed
|
|
Akram Cotton Mills Limited |
12/6/2024
|
Entity |
BBB |
A2 |
Stable |
Reaffirmed
|
|
Al Karam Towel Industries (Pvt) Ltd |
9/10/2024
|
Entity |
A- |
A2 |
Stable |
Reaffirmed
|
|
Al-Karam Textile Mills (Pvt) Limited |
4/4/2024
|
Entity |
A |
A2 |
Stable |
Maintained
|
|
Al-Karam Textile Mills (Pvt) Limited |
8/27/2024
|
Sukuk 1 |
A |
|
Stable |
Final
|
|
Al-Karam Textile Mills (Pvt) Limited |
8/27/2024
|
STS |
|
A1 |
|
Preliminary
|
|
Amna Industries (Pvt) Limited |
5/17/2024
|
Entity |
BBB+ |
A2 |
Negative |
Maintained
|
|
Arshad Corporation (Pvt) Ltd |
3/6/2024
|
Entity |
A- |
A2 |
Stable |
Reaffirmed
|
|
Arshad Textile Mills Limited |
3/6/2024
|
Entity |
BBB- |
A2 |
Stable |
Reaffirmed
|
|
Artistic Denim Mills Ltd |
3/29/2024
|
Entity |
A- |
A2 |
Stable |
Reaffirmed
|
|
Asher Imran Spinning Mills (Pvt) Limited |
11/20/2023
|
Entity |
A- |
A2 |
Stable |
Reaffirmed
|
|
Best Fibres (Pvt) Ltd |
5/14/2024
|
Entity |
A- |
A2 |
Positive |
Maintained
|
|
Bhanero Textile Mills Ltd |
9/26/2023
|
Entity |
A+ |
A1 |
Stable |
Reaffirmed
|
|
Bhimra Textile Mills (Pvt) Limited |
12/15/2023
|
Entity |
BBB |
A2 |
Stable |
Maintained
|
|
Bismillah Textiles Limited |
10/28/2024
|
Entity |
A- |
A2 |
Stable |
Upgrade
|
|
Blessed Textiles Ltd |
9/26/2023
|
Entity |
A |
A1 |
Stable |
Reaffirmed
|
|
Chakwal Textile Mills Limited |
10/23/2023
|
Entity |
|
|
|
Suspended
|
|
Comfort Knitwears (Pvt) Ltd |
9/5/2024
|
Entity |
A- |
A2 |
Stable |
Reaffirmed
|
|
Cotton Web Limited |
1/1/2024
|
Entity |
A- |
A2 |
Positive |
Maintained
|
|
Crescent Bahuman Limited |
6/24/2024
|
Entity |
A- |
A2 |
Positive |
Maintained
|
|
Dynamic Sportswear (Pvt) Limited |
7/1/2024
|
Entity |
A- |
A2 |
Stable |
Reaffirmed
|
|
Faisal Spinning Mills Ltd |
9/26/2023
|
Entity |
A |
A1 |
Stable |
Reaffirmed
|
|
Feroze 1888 Mills Limited |
2/27/2024
|
Entity |
AA- |
A1 |
Stable |
Reaffirmed
|
|
Gadoon Textile Mills Limited |
10/31/2023
|
Entity |
A+ |
A1 |
Stable |
Reaffirmed
|
|
Gatron (Industries) Limited |
5/17/2024
|
Entity |
A- |
A2 |
Stable |
Reaffirmed
|
|
Gohar Textile Mills (Pvt) Ltd |
3/11/2024
|
Entity |
A+ |
A1 |
Stable |
Upgrade
|
|
H.A Fibres (Pvt) Limited |
10/2/2023
|
Entity |
A- |
A2 |
Stable |
Maintained
|
|
Indigo Textile (Pvt) Limited |
7/19/2024
|
Entity |
A |
A1 |
Stable |
Reaffirmed
|
|
Indus Dyeing & Manufacturing Co Limited |
10/25/2024
|
Entity |
A+ |
A1 |
Stable |
Reaffirmed
|
|
Indus Home Limited |
8/8/2024
|
Entity |
A- |
A2 |
Stable |
Reaffirmed
|
|
Indus Lyallpur Limited |
10/25/2024
|
Entity |
A- |
A2 |
Stable |
Reaffirmed
|
|
Interloop Limited |
7/18/2024
|
Entity |
AA- |
A1 |
Stable |
Upgrade
|
|
International Textile Limited |
5/2/2024
|
Entity |
A |
A2 |
Stable |
Reaffirmed
|
|
J.K Spinning Mills Limited |
8/8/2024
|
Entity |
A- |
A1 |
Stable |
Reaffirmed
|
|
Kamal Limited |
5/3/2024
|
Entity |
A |
A1 |
Stable |
Reaffirmed
|
|
Kamal Textile Mills (Pvt) Ltd |
7/3/2024
|
Entity |
A- |
A2 |
Stable |
Reaffirmed
|
|
Khalid Shafique Spinning Mills Limited |
6/3/2024
|
Entity |
BBB+ |
A2 |
Stable |
Maintained
|
|
Kohinoor Mills Limited |
11/8/2024
|
Entity |
BBB+ |
A2 |
Stable |
Maintained
|
|
Kohinoor Textile Mills Limited |
10/23/2024
|
Entity |
A+ |
A1 |
Stable |
Reaffirmed
|
|
Lucky Knits (Pvt) Limited |
11/17/2023
|
Entity |
A- |
A1 |
Stable |
Reaffirmed
|
|
Lucky Textile Mills Limited |
12/2/2024
|
Entity |
AA- |
A1+ |
Stable |
Upgrade
|
|
M.K Sons (Pvt) Ltd |
6/14/2024
|
Entity |
A- |
A2 |
Stable |
Reaffirmed
|
|
Masood Textile Mills Limited |
2/27/2024
|
Sukuk 1 |
A |
|
Stable |
Reaffirmed
|
|
Master Textile Mills Limited |
4/4/2024
|
Entity |
A+ |
A1 |
Stable |
Upgrade
|
|
Metco Textile (Pvt) Limited |
11/6/2024
|
Entity |
A- |
A2 |
Stable |
Maintained
|
|
Mustaqim Dyeing and Printing Ind. (Pvt) limited |
5/15/2024
|
Entity |
A- |
A2 |
Stable |
Reaffirmed
|
|
Nadeem Textile Mills Limited |
1/30/2024
|
Entity |
A- |
A2 |
Stable |
Reaffirmed
|
|
Naveena Exports Limited |
6/4/2024
|
Entity |
A |
A1 |
Stable |
Reaffirmed
|
|
Naveena Industries Limited |
1/15/2024
|
Entity |
A- |
A2 |
Stable |
Maintained
|
|
Nishat (Chunian) Limited |
7/5/2024
|
Entity |
A- |
A2 |
Stable |
Reaffirmed
|
|
Pak kuwait Textiles Limited |
3/15/2024
|
Entity |
A- |
A1 |
Stable |
Reaffirmed
|
|
Premium Textile Mills Limited |
6/5/2024
|
Entity |
A- |
A2 |
Stable |
Reaffirmed
|
|
Rajby Industries |
7/15/2024
|
Entity |
A- |
A2 |
Positive |
Maintained
|
|
Rajby Textiles (Pvt) Limited |
9/3/2024
|
Entity |
A- |
A2 |
Stable |
Reaffirmed
|
|
Rizwan Enterprises |
8/21/2024
|
Entity |
A- |
A1 |
Stable |
Reaffirmed
|
|
Sadaqat Limited |
10/10/2023
|
TFC |
A |
|
Stable |
Reaffirmed
|
|
Sadaqat Limited |
10/10/2023
|
Entity |
A |
A2 |
Stable |
Reaffirmed
|
|
Sapphire Textile Mills Limited |
10/7/2024
|
Entity |
A+ |
A1 |
Stable |
Reaffirmed
|
|
Saya Weaving Mills (Pvt) Limited |
4/17/2024
|
Entity |
A- |
A2 |
Stable |
Reaffirmed
|
|
Shadab Textile Mills Limited |
1/8/2024
|
Entity |
A- |
A2 |
Negative |
Reaffirmed
|
|
Shahbaz Garments (Pvt) Limited |
4/16/2024
|
Entity |
A- |
A2 |
Stable |
Reaffirmed
|
|
Shahtaj Textile Limited |
11/13/2024
|
Entity |
A- |
A2 |
Stable |
Reaffirmed
|
|
Sheikhupura Textile Mills Limited |
7/24/2024
|
Entity |
BBB |
A2 |
Positive |
Maintained
|
|
Siara Textile Mills (Pvt) Limited |
2/27/2024
|
Entity |
BBB |
A2 |
Stable |
Reaffirmed
|
|
Sitara Hamza (Pvt) Limited |
3/29/2024
|
Entity |
BBB |
A3 |
Stable |
Initial
|
|
Sitara Textile Industries Ltd |
10/1/2024
|
Entity |
BB+ |
A3 |
Rating Watch - Negative |
Downgrade
|
|
Sohail Textile Mills Limited |
12/2/2024
|
Entity |
BBB- |
A2 |
Stable |
Reaffirmed
|
|
Soorty Enterprises (Pvt) Limited |
9/6/2024
|
Entity |
AA- |
A1 |
Stable |
Reaffirmed
|
|
Sunrays Textile Mills Limited |
10/25/2024
|
Entity |
A- |
A1 |
Stable |
Reaffirmed
|
|
Suraj Cotton Mills Limited |
2/9/2024
|
Entity |
A+ |
A1 |
Stable |
Reaffirmed
|
|
Tauseef Enterprises (Pvt) Limited |
9/18/2024
|
Entity |
A- |
A2 |
Stable |
Initial
|
|
The Crescent Textile Mills Limited |
3/27/2024
|
Entity |
A- |
A2 |
Negative |
Maintained
|
|
Towellers Limited |
2/7/2024
|
Entity |
A |
A1 |
Positive |
Maintained
|
|
Umar Spinning Mills (Pvt) Limited |
2/13/2024
|
Entity |
BBB+ |
A2 |
Stable |
Reaffirmed
|
|
Union Apparel (Pvt) Ltd |
3/4/2024
|
Entity |
A- |
A2 |
Stable |
Reaffirmed
|
|
Union Fabrics (Pvt) Ltd |
2/29/2024
|
Entity |
A- |
A2 |
Stable |
Reaffirmed
|
|
Utopia Industries (Pvt) Limited |
9/10/2024
|
Entity |
A- |
A2 |
Stable |
Reaffirmed
|
|
Z.A Corporation (Pvt) Ltd |
5/8/2024
|
Entity |
BBB+ |
A2 |
Stable |
Reaffirmed
|
|
Zaman Textile Mills (Pvt) Limited |
3/14/2024
|
Entity |
A- |
A2 |
Stable |
Reaffirmed
|
|
Zephyr Textiles Limited |
11/17/2023
|
Entity |
BBB+ |
A2 |
Positive |
Reaffirmed
|
|
Name |
Date |
Rating Type |
Long Term |
Short Term |
Outlook/Rating Watch |
Action |
Veda Transit Solutions (Pvt.) Limited |
12/13/2023
|
Entity |
BBB |
A2 |
Stable |
Reaffirmed
|
|
Management Quality |
Name |
Date |
Rating Type |
Long Term |
Short Term |
Outlook/Rating Watch |
Action |
Al-Meezan Investment Management Limited |
12/29/2023
|
Management Quality |
AM1 |
|
Stable |
Reaffirmed
|
|
Alfalah Asset Management Limited |
12/29/2023
|
Management Quality |
AM1 |
|
Stable |
Initial
|
|
Arif Habib Dolmen REIT Management Limited |
12/11/2023
|
Management Quality |
AM2 +(RMC) |
|
Stable |
Reaffirmed
|
|
Faysal Asset Management Limited |
9/10/2024
|
Management Quality |
AM1 |
|
Stable |
Upgrade
|
|
HBL- Asset Management Limited |
12/29/2023
|
Management Quality |
AM1 |
|
Stable |
Reaffirmed
|
|
Magnus Investments Limited |
6/14/2024
|
Management Quality |
AM2++(IA) |
|
Stable |
Reaffirmed
|
|
National Investment Trust Limited |
12/28/2023
|
Management Quality |
AM1 |
|
Stable |
Reaffirmed
|
|
Shields REIT Management Company Limited |
12/5/2024
|
Management Quality |
AM4 +(RMC) |
|
Stable |
Reaffirmed
|
|
UBL Fund Managers Limited |
12/29/2023
|
Management Quality |
AM1 |
|
Stable |
Reaffirmed
|
|
Mutual Funds |
Name |
Date |
Rating Type |
Long Term |
Short Term |
Outlook/Rating Watch |
Action |
Al Ameen Islamic Aggressive Income Fund |
12/29/2023
|
Fund Stability |
A+(f) |
|
|
Reaffirmed
|
|
Al Ameen Islamic Cash Fund |
12/29/2023
|
Fund Stability |
AA+(f) |
|
|
Reaffirmed
|
|
Al Ameen Islamic Sovereign Fund |
12/29/2023
|
Fund Stability |
AA(f) |
|
|
Reaffirmed
|
|
AL Habib Cash Fund (formerly First Habib Cash Fund) |
11/15/2023
|
Fund Stability |
AA+(f) |
|
|
Reaffirmed
|
|
AL Habib Money Market Fund |
11/15/2023
|
Fund Stability |
AA+(f) |
|
|
Reaffirmed
|
|
Askari Cash Fund |
12/27/2023
|
Fund Stability |
AA+(f) |
|
|
Reaffirmed
|
|
Askari Sovereign Yield Enhancer |
12/27/2023
|
Fund Stability |
AA- (f) |
|
|
Reaffirmed
|
|
Faysal Cash Fund |
12/15/2023
|
Fund Stability |
AA+(f) |
|
|
Reaffirmed
|
|
Faysal Government Securities Fund |
10/28/2024
|
Fund Stability |
AA(f) |
|
|
Reaffirmed
|
|
Faysal Islamic Cash Fund |
12/15/2023
|
Fund Stability |
AA(f) |
|
|
Reaffirmed
|
|
Faysal Islamic Financial Growth Plan-I (Under Faysal Islamic Financial Growth Fund) |
8/23/2024
|
Fund Stability |
A+(f) |
|
|
Initial
|
|
Faysal Islamic Savings Growth Fund |
12/15/2023
|
Fund Stability |
A+(f) |
|
|
Reaffirmed
|
|
Faysal Islamic Sovereign Fund Plan-I (Under Faysal Islamic Sovereign Fund) |
7/10/2024
|
Fund Stability |
AA(f) |
|
|
Initial
|
|
Faysal Islamic Sovereign Fund Plan-II (Under Faysal Islamic Sovereign Fund) |
8/20/2024
|
Fund Stability |
AA(f) |
|
|
Initial
|
|
HBL Cash Fund |
1/2/2024
|
Fund Stability |
AA+(f) |
|
|
Reaffirmed
|
|
HBL Government Securities Fund |
1/2/2024
|
Fund Stability |
AA- |
|
|
Reaffirmed
|
|
HBL Income Fund |
1/2/2024
|
Fund Stability |
A+(f) |
|
|
Reaffirmed
|
|
HBL Islamic Income Fund |
1/2/2024
|
Fund Stability |
A+(f) |
|
|
Reaffirmed
|
|
HBL Islamic Money Market Fund |
1/2/2024
|
Fund Stability |
AA+(f) |
|
|
Reaffirmed
|
|
HBL Money Market Fund |
1/2/2024
|
Fund Stability |
AA+(f) |
|
|
Reaffirmed
|
|
Meezan Cash Fund |
12/29/2023
|
Fund Stability |
AA+(f) |
|
|
Reaffirmed
|
|
Meezan Daily Income Fund |
12/27/2023
|
Fund Stability |
A+(f) |
|
|
Reaffirmed
|
|
Meezan Islamic Income Fund |
12/27/2023
|
Fund Stability |
A+(f) |
|
|
Reaffirmed
|
|
Meezan Rozana Amdani Fund |
12/27/2023
|
Fund Stability |
AA+(f) |
|
|
Reaffirmed
|
|
Meezan Sovereign Fund |
12/27/2023
|
Fund Stability |
AA(f) |
|
|
Reaffirmed
|
|
NIT Islamic Money Market Fund |
12/22/2023
|
Fund Stability |
AAA (f) |
|
|
Reaffirmed
|
|
NIT Social Impact Fund |
12/22/2023
|
Fund Stability |
A+(f) |
|
|
Reaffirmed
|
|
UBL Government Securities Fund |
12/29/2023
|
Fund Stability |
AA(f) |
|
|
Reaffirmed
|
|
UBL Growth & Income Fund |
12/29/2023
|
Fund Stability |
A+(f) |
|
|
Reaffirmed
|
|
UBL Income Opportunity Fund |
12/29/2023
|
Fund Stability |
AA- (f) |
|
|
Reaffirmed
|
|
UBL Liquidity Plus Fund |
12/29/2023
|
Fund Stability |
AA+(f) |
|
|
Reaffirmed
|
|
UBL Money Market Fund |
12/29/2023
|
Fund Stability |
AA+(f) |
|
|
Reaffirmed
|
|
Name |
Date |
Rating Type |
Long Term |
Short Term |
Outlook/Rating Watch |
Action |
Dolmen City REIT |
12/2/2024
|
REIT Rating |
AAA (rr)
|
|
Stable |
Reaffirmed
|
|
Globe Residency - REIT |
1/23/2024
|
REIT Rating |
RFR2(dr) |
|
Stable |
Reaffirmed
|
|
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