Corporates

Power Companies
Name Date Rating Type Long Term Short Term Outlook Action
AJ Power (Pvt) Ltd 3/29/2023 Entity Suspended
Artistic Energy (Pvt) Ltd 4/18/2023 Entity A+ A-1 Stable Reaffirmed
Artistic Wind Power Pvt Ltd 4/18/2023 Entity A A-2 Stable Reaffirmed
Engro Powergen Qadirpur Limited 7/14/2022 Entity AA- A-1 Stable Reaffirmed
FFBL Power Company Ltd 10/27/2022 Entity AA- A-1 Stable Reaffirmed
Gharo Solar Ltd 9/6/2022 Entity A A-1 Stable Reaffirmed
Indus Wind Energy Limited 5/16/2022 Entity A A-2 Stable Upgrade
K-Electric Limited 4/14/2023 Entity AA A-1+ Stable Reaffirmed
K-Electric Limited 4/14/2023 Sukuk 5 AA+ Stable Reaffirmed
K-Electric Limited 4/14/2023 Sukuk 6 AA+ Stable Reaffirmed
K-Electric Limited 3/29/2023 STS-15 A-1+ Final
K-Electric Limited 4/19/2023 STS-16 A-1+ Final
K-Electric Limited 5/11/2023 STS-17 A-1+ Preliminary
Kot Addu Power Company Limited 1/12/2023 Entity AA A-1 Stable Downgrade
Lucky Renewables (Pvt) Limited (Formerly: Tricom Wind Power (Pvt) Limited) 12/29/2022 Entity A A-2 Stable Reaffirmed
NASDA Green Energy 2/8/2022 Entity A- A-2 Stable Reaffirmed
National Power Parks Management Company (Pvt) Limited 12/30/2022 Entity AA+ A-1+ Rating Watch - Developing Reaffirmed
Neelum Jhelum Hydropower Company (Pvt) Ltd 1/12/2023 Sukuk 1 AAA Stable Reaffirmed
Nishat Chunian Power Limited 5/16/2022 Entity A+ A-2 Stable Initial
Punjab Thermal Power (Pvt) Limited 6/9/2022 Entity AA- A-1 Stable Reaffirmed
Quaid-e-Azam Thermal Power (Pvt) Limited 6/30/2022 Entity AA A-1 Stable Reaffirmed
Rousch (Pakistan) Power Limited 5/15/2023 Entity AA- A-1 Stable Downgrade
Rousch (Pakistan) Power Limited 5/15/2023 CP A-1 Final
Thal Power (Pvt) Limited 12/30/2022 Entity AA A-1+ Stable Reaffirmed
TNB Liberty Power Limited 8/19/2022 Entity A+ A-1 Stable Initial
Yunus Energy Limited 4/4/2023 Entity A+ A-1 Stable Reaffirmed
Zephyr Power Limited 2/2/2023 Entity A+ A-1 Stable Upgrade
Zhenfa Pakistan New Energy Company Limited 12/27/2022 Entity A A-2 Stable Upgrade