| Sr.No | Entity | Sector | Rating Type | Dissemination Date |
Action | LT Rating | ST Rating | Outlook | Rating Watch |
|---|---|---|---|---|---|---|---|---|---|
| 1 | Mughal Iron & Steel Industries Limited | PP Sukuk | PKR 5,000 million | TBI Press Release | Report | History |
Infrastructure | Debt Instrument | 25-Jan-22 | Preliminary | AA- | - | Stable | - |
| 2 | The Bank of Punjab | Additional Tier 1 Capital TFC | TBI Press Release | Report | History |
Banks | Debt Instrument | 07-Jan-22 | Preliminary | AA- | - | Stable | - |
| 3 | Lucky Electric Power Company Limited | ICP-2 | TBI Press Release | Report | History |
Energy | Debt Instrument | 07-Jan-22 | Preliminary | AA- | A1 | Stable | - |
| 4 | JS Global Capital Limited | CP | Nov-21 Press Release | Report | History |
Capital Markets | Debt Instrument | 04-Jan-22 | Initial | AA | A1+ | Stable | - |
| 5 | Pak Elektron Limited | PPCP | TBI Press Release | Report | History |
Consumers Goods & Services | Debt Instrument | 04-Jan-22 | Preliminary | A+ | A1 | Stable | - |
| 6 | OILCO Petroleum (Pvt.) Limited | PP Sukuk | TBI Press Release | Report | History |
Energy | Debt Instrument | 29-Dec-21 | Preliminary | A+ | - | Stable | - |
| 7 | Pak Elektron Limited | PP Sukuk Press Release | Report | History |
Consumers Goods & Services | Debt Instrument | 27-Dec-21 | Initial | A+ | A1 | Stable | - |
| 8 | Cnergyico Pk Limited | PP Sukuk | TBI Press Release | Report | History |
Energy | Debt Instrument | 27-Dec-21 | Preliminary | A | - | Stable | - |
| 9 | Lucky Electric Power Company Limited | ICP-1 | TBI Press Release | Report | History |
Energy | Debt Instrument | 24-Dec-21 | Initial | AA- | A1 | Stable | - |
| 10 | ORIX Leasing Pakistan Limited | PPTFC | TBI Press Release | Report | History |
Non Banking Financial Institutes | Debt Instrument | 21-Dec-21 | Preliminary | AA+ | - | Stable | - |
| 11 | U Microfinance Bank Limited | TFC | TBI Press Release | Report | History |
Banks | Debt Instrument | 20-Dec-21 | Preliminary | AA- | - | Stable | - |
| 12 | WAPDA | Sukuk | May-17 Press Release | Report | History |
Energy | Debt Instrument | 17-Dec-21 | Maintain | AAA | - | Stable | - |
| 13 | WAPDA | PPTFC | May-17 Press Release | Report | History |
Energy | Debt Instrument | 17-Dec-21 | Maintain | AAA | - | Stable | - |
| 14 | JS Bank Limited | PPTFC | TBI Press Release | Report | History |
Banks | Debt Instrument | 17-Dec-21 | Preliminary | A+ | - | Stable | - |
| 15 | Soneri Bank Limited | TFC II | Jul-15 Press Release | Report | History |
Banks | Debt Instrument | 15-Dec-21 | Maintain | A+ | - | Stable | - |
| 16 | K-Electric | ICP-22 Press Release | Report | History |
Energy | Debt Instrument | 15-Dec-21 | Initial | AA | A1+ | Stable | - |
| 17 | The Hub Power Company Limited | PPSTS | TBI Press Release | Report | History |
Energy | Debt Instrument | 13-Dec-21 | Initial | AA+ | A1+ | Stable | - |
| 18 | Bank AL Habib Limited | Tier II TFC VIII | Sep-21 Press Release | Report | History |
Banks | Debt Instrument | 03-Dec-21 | Initial | AA+ | - | Stable | - |
| 19 | TPL Corp Limited | PPTFC | TBI Press Release | Report | History |
Holding Company | Debt Instrument | 30-Nov-21 | Preliminary | AA- | - | Stable | - |
| 20 | K-Electric | ICP-21 Press Release | Report | History |
Energy | Debt Instrument | 30-Nov-21 | Initial | AA | A1+ | Stable | - |
| 21 | TPL Corp Limited | PP Sukuk Press Release | Report | History |
Holding Company | Debt Instrument | 30-Nov-21 | Preliminary | AA- | - | Stable | - |
| 22 | K-Electric | CP-1 Press Release | Report | History |
Energy | Debt Instrument | 30-Nov-21 | Initial | AA | A1+ | Stable | - |
| 23 | Byco Petroleum Pakistan Limited | Sukuk | Jan-17 Press Release | Report | History |
Energy | Debt Instrument | 26-Nov-21 | Maintain | AAA | - | Stable | - |
| 24 | WAPDA Dasu Sukuk-B Press Release | Report | History |
Energy | Debt Instrument | 23-Nov-21 | Initial | AAA | - | Stable | - |
| 25 | WAPDA Dasu TFC-B Press Release | Report | History |
Energy | Debt Instrument | 18-Nov-21 | Initial | AAA | - | Stable | - |
| 26 | AGP Limited | Sukuk | Jun-17 Press Release | Report | History |
Pharma and Chemicals | Debt Instrument | 26-Oct-21 | Maintain | A+ | - | Stable | - |
| 27 | NRSP Microfinance Bank Limited | Tier II TFC Press Release | Report | History |
Banks | Debt Instrument | 27-Sep-21 | Initial | A- | - | Stable | - |
| 28 | Kashf Foundation | PPTFC Press Release | Report | History |
Banks | Debt Instrument | 25-Sep-21 | Maintain | A | - | Stable | Yes |
| 29 | Berger Paints Pakistan Limited | PP Sukuk | Sep -21 Press Release | Report | History |
Pharma and Chemicals | Debt Instrument | 16-Sep-21 | Initial | A | - | Stable | - |
| 30 | The Hub Power Company Limited | PP Sukuk Press Release | Report | History |
Energy | Debt Instrument | 27-Aug-21 | Maintain | AA+ | - | Stable | - |
| 31 | Engro PowerGen Thar (Private) Limited | PP Sukuk Press Release | Report | History |
Energy | Debt Instrument | 27-Aug-21 | Maintain | A | - | Stable | - |
| 32 | TPL Corp Limited | PPCP Press Release | Report | History |
Holding Company | Debt Instrument | 27-Aug-21 | Initial | A | A1 | Stable | - |
| 33 | U Microfinance Bank Limited | TFC Press Release | Report | History |
Banks | Debt Instrument | 18-Aug-21 | Initial | AA- | - | Stable | - |
| 34 | Ghani Chemical Industries Limited | Sukuk | Feb-17 Press Release | Report | History |
Pharma and Chemicals | Debt Instrument | 11-Aug-21 | Upgrade | A | - | Stable | - |
| 35 | Jahangir Siddiqui & Co. Ltd. | TFC XI | Mar-18 Press Release | Report | History |
Holding Company | Debt Instrument | 05-Aug-21 | Maintain | AA+ | - | Stable | - |
| 36 | Pak Arab Fertilizers Limited | TFC Press Release | Report | History |
Agriculture & Allied | Debt Instrument | 05-Aug-21 | Maintain | A- | - | Developing | Yes |
| 37 | Jahangir Siddiqui & Co. Ltd. | TFC X | Jul-17 Press Release | Report | History |
Holding Company | Debt Instrument | 05-Aug-21 | Maintain | AA+ | - | Stable | - |
| 38 | Gas & Oil Pakistan Limited | PP Sukuk Press Release | Report | History |
Energy | Debt Instrument | 26-Jul-21 | Preliminary | AA- | - | Stable | - |
| 39 | Engro Polymer & Chemicals Limited | Sukuk | Jan 19 Press Release | Report | History |
Pharma and Chemicals | Debt Instrument | 18-Jul-21 | Maintain | AA | - | Stable | - |
| 40 | TPL Trakker Limited | Sukuk-I | May-16 Press Release | Report | History |
Logistics | Debt Instrument | 02-Jul-21 | Maintain | A+ | - | Stable | - |
| 41 | Bank AL Habib Limited | Tier-II TFC (TFC-VII) Press Release | Report | History |
Banks | Debt Instrument | 29-Jun-21 | Upgrade | AA+ | - | Stable | - |
| 42 | Bank AL Habib Limited | Tier-I | TFC VI | Dec-17 Press Release | Report | History |
Banks | Debt Instrument | 29-Jun-21 | Upgrade | AA | - | Stable | - |
| 43 | The Bank of Punjab | TFC II | April-18 Press Release | Report | History |
Banks | Debt Instrument | 25-Jun-21 | Upgrade | AA | - | Stable | - |
| 44 | JS Bank Limited | PPTFC | Dec-16 Press Release | Report | History |
Banks | Debt Instrument | 25-Jun-21 | Maintain | A+ | - | Stable | - |
| 45 | JS Bank Limited | TFC II Press Release | Report | History |
Banks | Debt Instrument | 25-Jun-21 | Maintain | A+ | - | Stable | - |
| 46 | Askari Bank Limited | TFC VI ( Additional Tier I ) | Jul-18 Press Release | Report | History |
Banks | Debt Instrument | 25-Jun-21 | Maintain | AA- | - | Stable | - |
| 47 | The Bank of Punjab | TFC I | Dec-16 Press Release | Report | History |
Banks | Debt Instrument | 25-Jun-21 | Upgrade | AA | - | Stable | - |
| 48 | JS Bank Limited | TFC Tier 1 Press Release | Report | History |
Banks | Debt Instrument | 25-Jun-21 | Maintain | A | - | Stable | - |
| 49 | BankIslami Pakistan Limited | Modaraba Sukuk Press Release | Report | History |
Banks | Debt Instrument | 25-Jun-21 | Maintain | A- | - | Stable | - |
| 50 | Askari Bank Limited | Tier-II TFC (TFC-VII) Press Release | Report | History |
Banks | Debt Instrument | 25-Jun-21 | Maintain | AA | - | Stable | - |
| 51 | Soneri Bank Limited | Tier 1 TFC Press Release | Report | History |
Banks | Debt Instrument | 25-Jun-21 | Maintain | A | - | Stable | - |
| 52 | Ghani Chemical Industries Limited | ICP Press Release | Report | History |
Pharma and Chemicals | Debt Instrument | 24-Jun-21 | Preliminary | A | A1 | Stable | - |
| 53 | TPL Trakker Limited | Sukuk Press Release | Report | History |
Logistics | Debt Instrument | 07-Jun-21 | Initial | A+ | - | Stable | - |
| 54 | Hub Power Holdings Limited | Sukuk Press Release | Report | History |
Holding Company | Debt Instrument | 04-Jun-21 | Maintain | AA+ | - | Stable | - |
| 55 | Samba Bank Limited | PPTFC Press Release | Report | History |
Banks | Debt Instrument | 21-May-21 | Initial | AA- | - | Stable | - |
| 56 | Mughal Iron & Steel Industries Limited | PP Sukuk Press Release | Report | History |
Infrastructure | Debt Instrument | 28-Apr-21 | Initial | A+ | - | Stable | - |
| 57 | Pakistan Mortgage Refinance Company Limited | PP Sukuk Press Release | Report | History |
Development Institutions | Debt Instrument | 16-Apr-21 | Initial | AAA | - | Stable | - |
| 58 | The Hub Power Company Limited | Sukuk Press Release | Report | History |
Energy | Debt Instrument | 16-Apr-21 | Maintain | AA+ | - | Stable | - |
| 59 | Pakistan Services Limited | Sukuk | Mar-18 Press Release | Report | History |
Consumers Goods & Services | Debt Instrument | 24-Mar-21 | Maintain | A | - | Negative | Yes |
| 60 | Bank Alfalah Limited | TFCs | Series A Press Release | Report | History |
Banks | Debt Instrument | 16-Feb-21 | Initial | AAA | - | Stable | - |