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Outstanding Ratings

Sr.No Entity Sector Rating Type Dissemination
Date
Action Rating Outlook Rating Watch
1 Airlink Communication Limited - PPSTS-VII - PKR 3.5bln - Sep-25
Press Release | Report | History
Distributors Debt Instrument 04-Dec-25 Initial A+ Stable -
2 Beacon Impex (Pvt.) Limited - PP Sukuk - PKR 1bln - Sep-25
Press Release | Report | History
Textile & Allied Debt Instrument 03-Dec-25 Initial A Stable -
3 Ghulam Rasool & Company (Pvt.) Limited
Press Release | Report | History
Infrastructure Entity 03-Dec-25 Maintain A- Stable -
4 Mughal Energy Limited
Press Release | Report | History
Energy Entity 01-Dec-25 Maintain A Developing -
5 Loads Limited - PPSTS - PKR 750mln - Jul-25
Press Release | Report | History
Auto and Allied Debt Instrument 01-Dec-25 Maintain A Stable -
6 Sayban International
Press Release | Report | History
Agriculture & Allied Entity 28-Nov-25 Maintain BBB- Stable Yes
7 Ismail Iqbal Securities (Pvt.) Limited
Press Release | Report | History
Capital Markets Entity 28-Nov-25 Maintain A- Stable -
8 Tandlianwala Sugar Mills Limited
Press Release | Report | History
Agriculture & Allied Entity 28-Nov-25 Maintain A Stable -
9 Starch Pack (Pvt.) Limited
Press Release | Report | History
Food and Allied Entity 26-Nov-25 Maintain A Stable -
10 East Gate Industries (Pvt.) Limited
Press Release | Report | History
Textile & Allied Entity 25-Nov-25 Initial A Stable -
11 DIC Pakistan Limited
Press Release | Report | History
Pharma and Chemicals Entity 25-Nov-25 Maintain AA- Stable -
12 Samba Bank Limited
Press Release | Report | History
Banks Entity 25-Nov-25 Maintain AA Stable -
13 Be Be Jan Pakistan Limited
Press Release | Report | History
Textile & Allied Entity 21-Nov-25 Maintain BBB Stable -
14 Sapphire Finishing Mills Limited
Press Release | Report | History
Textile & Allied Entity 21-Nov-25 Maintain A Stable -
15 Inbox Business Technologies Limited
Press Release | Report | History
Engineering and Technology Entity 21-Nov-25 Maintain A- Stable -
16 HUM Network Limited
Press Release | Report | History
Communication Entity 21-Nov-25 Maintain AA- Stable -
17 KTRADE Securities Limited
Press Release | Report | History
Capital Markets Entity 21-Nov-25 Maintain A- Stable -
18 K-Electric Limited - Retail Utility Sukuk - PKR 3bln - TBI
Press Release | Report | History
Energy Debt Instrument 21-Nov-25 Initial AA Stable -
19 Azgard Nine Limited
Press Release | Report | History
Textile & Allied Entity 21-Nov-25 Initial BBB Stable -
20 Ghani Global Glass Limited
Press Release | Report | History
Infrastructure Entity 21-Nov-25 Maintain BBB+ Positive -
21 Airlink Communication
Press Release | Report | History
Distributors Entity 21-Nov-25 Maintain A+ Stable -
22 Samad Rubber Works (Pvt.) Limited
Press Release | Report | History
Pharma and Chemicals Entity 21-Nov-25 Maintain A- Stable -
23 Samba Bank Limited | PPTFC
Press Release | Report | History
Banks Debt Instrument 21-Nov-25 Maintain AA- Stable -
24 Panther Tyres Limited - PPSTS - PKR 2.0bln - TBI
Press Release | Report | History
Auto and Allied Debt Instrument 20-Nov-25 Preliminary A Stable -
25 Swat Agro Chemicals
Press Release | Report | History
Agriculture & Allied Entity 19-Nov-25 Maintain BBB Stable -
26 Ahmed Fine Weaving Limited
Press Release | Report | History
Textile & Allied Entity 14-Nov-25 Maintain A- Stable -
27 Sitara Petroleum Service Limited
Press Release | Report | History
Energy Entity 13-Nov-25 Upgrade A Stable -
28 Sapphire Fibres Limited
Press Release | Report | History
Textile & Allied Entity 13-Nov-25 Maintain A+ Stable -
29 Prism Energy (Pvt.) Limited
Press Release | Report | History
Energy Entity 11-Nov-25 Maintain A+ Stable -
30 Glamour Textile Mills Limited
Press Release | Report | History
Textile & Allied Entity 10-Nov-25 Maintain BBB- Stable -
31 Pakistan Services Limited
Press Release | Report | History
Consumers Goods & Services Entity 08-Nov-25 Maintain B Negative Yes
32 Fazal Holdings (Pvt.) Limited
Press Release | Report | History
Holding Company Entity 07-Nov-25 Maintain A+ Stable -
33 Liberty Power Tech Limited
Press Release | Report | History
Energy Entity 06-Nov-25 Maintain AA- Stable -
34 Berger Paints Pakistan Limited | PP Sukuk | Sep -21
Press Release | Report | History
Pharma and Chemicals Debt Instrument 04-Nov-25 Maintain A Stable -
35 TPL Corp Limited | PP Sukuk | Jun-22
Press Release | Report | History
Holding Company Debt Instrument 03-Nov-25 Downgrade A+ Developing Yes
36 TPL Corp Limited | PPTFC | Jun-22
Press Release | Report | History
Holding Company Debt Instrument 03-Nov-25 Downgrade A+ Developing Yes
37 TPL Corp Limited
Press Release | Report | History
Holding Company Entity 03-Nov-25 Maintain A Developing Yes
38 Service Retail (Pvt.) Limited
Press Release | Report | History
Consumers Goods & Services Entity 03-Nov-25 Initial A Stable -
39 Zahidjee Textile Mills Limited
Press Release | Report | History
Textile & Allied Entity 31-Oct-25 Maintain A Stable -
40 NRSP Microfinance Bank Limited | Tier II TFC
Press Release | Report | History
Banks Debt Instrument 30-Oct-25 Maintain A- Stable Yes
41 Platinum Steel Mill (Pvt.) Limited
Press Release | Report | History
Infrastructure Entity 30-Oct-25 Maintain BBB Stable -
42 Infralectric (Pvt.) Limited - PP Sukuk - PKR 3bln - TBI
Press Release | Report | History
Engineering and Technology Debt Instrument 28-Oct-25 Preliminary AAA Stable -
43 ISE Towers REIT Management Company Limited
Press Release | Report | History
Non Banking Financial Institutes Entity 28-Oct-25 Maintain A Stable -
44 KSB Pumps Company Limited
Press Release | Report | History
Engineering and Technology Entity 28-Oct-25 Maintain A+ Stable -
45 Nishat Mills Limited - PPSTS - PKR 7bln - TBI
Press Release | Report | History
Textile & Allied Debt Instrument 27-Oct-25 Preliminary AA Stable -
46 Pharmagen Limited
Press Release | Report | History
Pharma and Chemicals Entity 24-Oct-25 Maintain A- Stable -
47 Etihad Alloys (Pvt.) Limited
Press Release | Report | History
Infrastructure Entity 24-Oct-25 Maintain BBB- Developing -
48 Select Technologies (Pvt.) Limited - PPSTS-III - PKR 2.0bln - TBI
Press Release | Report | History
Distributors Debt Instrument 24-Oct-25 Preliminary A Stable -
49 Service Tyres (Pvt.) Limited
Press Release | Report | History
Auto and Allied Entity 23-Oct-25 Initial A+ Stable -
50 Reon Energy Limited - PPSTS - PKR 500mln - TBI
Press Release | Report | History
Energy Debt Instrument 23-Oct-25 Preliminary A Stable -
51 Stylers International Limited
Press Release | Report | History
Textile & Allied Entity 23-Oct-25 Maintain A Stable -
52 ThalNova Power Thar (Pvt.) Limited
Press Release | Report | History
Energy Entity 23-Oct-25 Maintain AA- Stable -
53 Thar Energy Limited
Press Release | Report | History
Energy Entity 23-Oct-25 Maintain AA- Stable -
54 AGP Limited
Press Release | Report | History
Pharma and Chemicals Entity 23-Oct-25 Maintain A+ Stable -
55 Guard Agricultural Research and Services (Pvt.) Limited
Press Release | Report | History
Agriculture & Allied Entity 23-Oct-25 Maintain A- Stable -
56 Ghani Global Holdings Limited
Press Release | Report | History
Holding Company Entity 21-Oct-25 Maintain A- Stable -
57 CCL Pharmaceuticals (Pvt.) Limited
Press Release | Report | History
Pharma and Chemicals Entity 17-Oct-25 Maintain A Stable -
58 Ghandhara Automobiles Limited
Press Release | Report | History
Auto and Allied Entity 17-Oct-25 Maintain A Stable -
59 Ghandhara Industries Limited
Press Release | Report | History
Auto and Allied Entity 17-Oct-25 Maintain A+ Stable -
60 Mughal Iron & Steel Industries Limited
Press Release | Report | History
Infrastructure Entity 15-Oct-25 Maintain A+ Stable -
61 Mughal Iron & Steel Industries Limited - PPSTS - PKR 1.5bln - TBI
Press Release | Report | History
Infrastructure Debt Instrument 15-Oct-25 Preliminary A+ Stable -
62 Mobilink Microfinance Bank Limited | PPTFC | Dec-22
Press Release | Report | History
Banks Debt Instrument 13-Oct-25 Maintain A- Stable -
63 Secure Logistics Trax Group Limited
Press Release | Report | History
Auto and Allied Entity 13-Oct-25 Maintain A+ Stable -
64 Mughal Iron & Steel Industries Limited | PP Sukuk
Press Release | Report | History
Infrastructure Debt Instrument 10-Oct-25 Maintain A+ Stable -
65 Irfan Noman Brothers (Pvt.) Limited
Press Release | Report | History
Agriculture & Allied Entity 10-Oct-25 Maintain BBB+ Stable -
66 Mumtaz Feeds & Allied Industries (Pvt.) Limited
Press Release | Report | History
Food and Allied Entity 10-Oct-25 Maintain BBB Stable -
67 Habib Construction Services Limited
Press Release | Report | History
Infrastructure Entity 09-Oct-25 Maintain BBB+ Positive -
68 Din Energy Limited
Press Release | Report | History
Energy Entity 08-Oct-25 Maintain A Stable -
69 Matracon Pakistan (Pvt.) Limited
Press Release | Report | History
Infrastructure Entity 07-Oct-25 Maintain BBB Positive -
70 Gas & Oil Pakistan Limited | GO Long Term Sukuk-I | PKR 2.5bln | TBI
Press Release | Report | History
Energy Debt Instrument 06-Oct-25 Preliminary AA Stable -
71 WAPDA - Dasu Consolidated Sukuk - PKR 52.8bln
Press Release | Report | History
Energy Debt Instrument 02-Oct-25 Maintain AAA Stable -
72 WAPDA - Dasu Consolidated TFC - PKR 35.2bln
Press Release | Report | History
Energy Debt Instrument 02-Oct-25 Maintain AAA Stable -
73 Lucky Electric Power Company Limited - PPSTS-22 - PKR 6.0bln - Aug-25
Press Release | Report | History
Energy Debt Instrument 02-Oct-25 Maintain AA Stable -
74 Airlink Communication Limited - PPSTS-VI - PKR 3.0bln - Jul-25
Press Release | Report | History
Distributors Debt Instrument 01-Oct-25 Initial A+ Stable -
75 Orient Rental Modaraba
Press Release | Report | History
Non Banking Financial Institutes Entity 30-Sep-25 Maintain A- Stable -
76 A.J. Textile Mills Limited
Press Release | Report | History
Textile & Allied Entity 26-Sep-25 Maintain A- Stable -
77 Master Wind Energy Limited
Press Release | Report | History
Energy Entity 26-Sep-25 Maintain A+ Stable -
78 Parwaaz Financial Services Limited
Press Release | Report | History
Non Banking Financial Institutes Entity 26-Sep-25 Maintain A+ Stable -
79 Thardeep Microfinance Foundation
Press Release | Report | History
Banks Entity 25-Sep-25 Maintain BB Stable Yes
80 Kashf Foundation | PPTFC | PKR 2.483bln | Dec-23
Press Release | Report | History
Banks Debt Instrument 23-Sep-25 Maintain AAA Stable -
81 Gul Ahmed Wind Power Limited
Press Release | Report | History
Energy Entity 23-Sep-25 Maintain A+ Stable -
82 Prosperity Weaving Mills Limited
Press Release | Report | History
Textile & Allied Entity 19-Sep-25 Maintain A- Stable -
83 Escorts Investment Bank Limited
Press Release | Report | History
Non Banking Financial Institutes Entity 19-Sep-25 Downgrade BBB- Stable -
84 Service Industries Limited
Press Release | Report | History
Auto and Allied Entity 19-Sep-25 Maintain AA Stable -
85 Dawood Equities Limited
Press Release | Report | History
Capital Markets Entity 19-Sep-25 Maintain A- Stable -
86 Nagina Cotton Mills Limited
Press Release | Report | History
Textile & Allied Entity 19-Sep-25 Maintain A- Stable -
87 Ellcot Spinning Mills Limited
Press Release | Report | History
Textile & Allied Entity 19-Sep-25 Maintain A- Stable -
88 Global Marketing Services
Press Release | Report | History
Pharma and Chemicals Entity 19-Sep-25 Maintain BBB+ Stable -
89 Trust Securities & Brokerage Limited
Press Release | Report | History
Capital Markets Entity 19-Sep-25 Maintain A- Stable -
90 First Punjab Modaraba
Press Release | Report | History
Non Banking Financial Institutes Entity 19-Sep-25 Maintain A- Stable -
91 Nishat Power Limited
Press Release | Report | History
Energy Entity 19-Sep-25 Maintain AA- Stable -
92 First Habib Modaraba
Press Release | Report | History
Non Banking Financial Institutes Entity 19-Sep-25 Maintain AA+ Stable -
93 Trans World Enterprise Services (Pvt.) Limited
Press Release | Report | History
Communication Entity 15-Sep-25 Maintain BBB Stable -
94 Select Technologies (Pvt.) Limited - PPSTS - II- PKR 3.5bln - Jun-25
Press Release | Report | History
Distributors Debt Instrument 12-Sep-25 Initial A Stable -
95 Berger Paints Pakistan Limited
Press Release | Report | History
Pharma and Chemicals Entity 12-Sep-25 Maintain A- Stable -
96 Nimir Chemicals Pakistan Limited
Press Release | Report | History
Pharma and Chemicals Entity 12-Sep-25 Maintain A- Stable -
97 Engro PowerGen Thar (Pvt.) Limited
Press Release | Report | History
Energy Entity 12-Sep-25 Maintain AA Stable -
98 My Petroleum (Pvt.) Limited
Press Release | Report | History
Energy Entity 11-Sep-25 Maintain BBB+ Stable -
99 Din Textile Mills Limited
Press Release | Report | History
Textile & Allied Entity 05-Sep-25 Maintain A- Stable -
100 Fazal Cloth Mills Limited
Press Release | Report | History
Textile & Allied Entity 05-Sep-25 Maintain A Stable -
101 Premier Industrial Chemical MFG. Co. (Pvt.) Limited
Press Release | Report | History
Agriculture & Allied Entity 05-Sep-25 Maintain A- Stable -
102 Bulleh Shah Packaging (Pvt.) Limited
Press Release | Report | History
Consumers Goods & Services Entity 05-Sep-25 Maintain AA- Stable Yes
103 Bestway Cement Limited
Press Release | Report | History
Infrastructure Entity 03-Sep-25 Maintain AA- Stable -
104 Infralectric (Pvt.) Limited
Press Release | Report | History
Engineering and Technology Entity 29-Aug-25 Initial A- Stable -
105 Golden Packages (Pvt.) Limited
Press Release | Report | History
Consumers Goods & Services Entity 29-Aug-25 Maintain BBB Stable -
106 Nayatel (Pvt.) Limited
Press Release | Report | History
Communication Entity 29-Aug-25 Maintain A+ Stable -
107 Trans World Associates (Pvt.) Limited
Press Release | Report | History
Communication Entity 29-Aug-25 Maintain A+ Stable -
108 Martin Dow Limited
Press Release | Report | History
Pharma and Chemicals Entity 29-Aug-25 Upgrade A+ Stable -
109 Zarea Limited
Press Release | Report | History
Engineering and Technology Entity 28-Aug-25 Initial A- Stable -
110 OLP Financial Services Pakistan Limited | PPTFC (Formerly ORIX Leasing Pakistan Limited | PPTFC)
Press Release | Report | History
Non Banking Financial Institutes Debt Instrument 28-Aug-25 Maintain AA+ Stable -
111 Puma Energy Pakistan (Pvt.) Limited
Press Release | Report | History
Energy Entity 28-Aug-25 Maintain A- Stable -
112 Zarea Limited - PPSTS - PKR 1bln - TBI
Press Release | Report | History
Engineering and Technology Debt Instrument 28-Aug-25 Preliminary A- Stable -
113 Khas Textile Mills (Pvt.) Limited
Press Release | Report | History
Textile & Allied Entity 22-Aug-25 Maintain BBB- Stable -
114 Multan Electric Power Company Limited
Press Release | Report | History
Energy Entity 22-Aug-25 Upgrade A Positive -
115 Be Energy Limited
Press Release | Report | History
Energy Entity 22-Aug-25 Maintain A+ Stable -
116 Maaksons Engineering Corporation Limited
Press Release | Report | History
Infrastructure Entity 22-Aug-25 Maintain A- Stable -
117 Awan Trading Company (Pvt.) Limited
Press Release | Report | History
Energy Entity 19-Aug-25 Maintain A- Stable -
118 K-Electric Limited - PPSTS-33 - PKR 7bln - Jul-25
Press Release | Report | History
Energy Debt Instrument 18-Aug-25 Initial AA Stable -
119 Harappa Solar (Pvt.) Limited
Press Release | Report | History
Energy Entity 15-Aug-25 Maintain A+ Stable -
120 Packages Convertors Limited
Press Release | Report | History
Consumers Goods & Services Entity 15-Aug-25 Maintain AA- Stable -
121 Tufail Chemical Industries Limited
Press Release | Report | History
Pharma and Chemicals Entity 12-Aug-25 Maintain A- Stable Yes
122 EcoPack Limited
Press Release | Report | History
Consumers Goods & Services Entity 08-Aug-25 Upgrade BBB+ Stable -
123 National Grid Company of Pakistan Limited (formerly: National Transmission & Despatch Company Limited)
Press Release | Report | History
Energy Entity 08-Aug-25 Maintain AA+ Stable Yes
124 Sapphire Dairies (Pvt.) Limited
Press Release | Report | History
Food and Allied Entity 07-Aug-25 Maintain A- Stable -
125 Saigal Packages Industries (Pvt.) Limited
Press Release | Report | History
Consumers Goods & Services Entity 07-Aug-25 Maintain BBB- Stable -
126 Ismail Industries Limited - PPSTS-5 - PKR 8.0bln - Aug-25
Press Release | Report | History
Food and Allied Debt Instrument 07-Aug-25 Preliminary AA- Stable -
127 MAL Pakistan Limited
Press Release | Report | History
Energy Entity 05-Aug-25 Initial A- Stable -
128 Mekotex (Pvt.) Limited
Press Release | Report | History
Textile & Allied Entity 01-Aug-25 Maintain A- Stable -
129 Ghandhara Tyre & Rubber Company Limited
Press Release | Report | History
Auto and Allied Entity 01-Aug-25 Maintain A+ Stable Yes
130 Pak Suzuki Motor Company Limited
Press Release | Report | History
Auto and Allied Entity 01-Aug-25 Upgrade AA Stable -
131 Jazaa Global (Pvt.) Limited
Press Release | Report | History
Food and Allied Entity 30-Jul-25 Upgrade BBB Stable -
132 Pakistan Oxygen Limited
Press Release | Report | History
Pharma and Chemicals Entity 25-Jul-25 Upgrade A+ Stable -
133 Engro Fertilizers Limited
Press Release | Report | History
Agriculture & Allied Entity 25-Jul-25 Maintain AA Stable -
134 Jahangir Siddiqui & Co. Ltd.
Press Release | Report | History
Holding Company Entity 25-Jul-25 Maintain AA Stable -
135 Fauji Fertilizer Company Limited
Press Release | Report | History
Agriculture & Allied Entity 25-Jul-25 Maintain AA+ Stable -
136 Sarena Textile Industries (Pvt.) Limited
Press Release | Report | History
Textile & Allied Entity 25-Jul-25 Maintain A Stable -
137 Masood Spinning Mills Limited - PPSTS - PKR 2.0bln - May-25
Press Release | Report | History
Textile & Allied Debt Instrument 24-Jul-25 Initial A- Stable -
138 Fatima Fertilizer Company Limited
Press Release | Report | History
Agriculture & Allied Entity 24-Jul-25 Maintain AA+ Stable -
139 TPL Trakker Limited | Sukuk
Press Release | Report | History
Logistics Debt Instrument 21-Jul-25 Maintain A+ Stable -
140 Reon Energy Limited
Press Release | Report | History
Energy Entity 18-Jul-25 Initial A Stable -
141 Sindh Engro Coal Mining Company
Press Release | Report | History
Energy Entity 18-Jul-25 Maintain AA Stable -
142 M.Y. Bari Mills (Pvt.) Limited
Press Release | Report | History
Textile & Allied Entity 18-Jul-25 Maintain BBB+ Stable -
143 Medipak Limited
Press Release | Report | History
Pharma and Chemicals Entity 18-Jul-25 Maintain BBB+ Positive -
144 Lumen Energia (Pvt.) Limited
Press Release | Report | History
Energy Entity 17-Jul-25 Initial BBB- Stable -
145 DHA Energy Supply Company (Pvt.) Limited
Press Release | Report | History
Energy Entity 17-Jul-25 Initial A Stable -
146 National Rural Support Programme
Press Release | Report | History
Banks Entity 15-Jul-25 Upgrade A Stable -
147 Avanceon Limited
Press Release | Report | History
Engineering and Technology Entity 14-Jul-25 Initial A Stable -
148 Mughal Iron & Steel Industries Limited - PPSTS - PKR 2.5bln - Jun-25
Press Release | Report | History
Infrastructure Debt Instrument 14-Jul-25 Initial A+ Stable -
149 Hoora Pharma (Pvt.) Limited
Press Release | Report | History
Consumers Goods & Services Entity 11-Jul-25 Initial BBB Stable -
150 Faisalabad Electric Supply Company Limited
Press Release | Report | History
Energy Entity 11-Jul-25 Initial AA- Stable -
151 Diamond Fabrics Limited
Press Release | Report | History
Textile & Allied Entity 11-Jul-25 Maintain A- Stable -
152 Nisar Spinning Mills (Pvt.) Limited
Press Release | Report | History
Textile & Allied Entity 11-Jul-25 Maintain A- Stable -
153 Steelex (Pvt.) Limited
Press Release | Report | History
Infrastructure Entity 11-Jul-25 Maintain BBB Stable -
154 NIMIR Industrial Chemicals Limited
Press Release | Report | History
Pharma and Chemicals Entity 11-Jul-25 Maintain A+ Stable -
155 Nimir Resins Limited
Press Release | Report | History
Pharma and Chemicals Entity 11-Jul-25 Maintain A- Stable -
156 Pak Elektron Limited
Press Release | Report | History
Consumers Goods & Services Entity 09-Jul-25 Maintain A+ Stable -
157 Engro Elengy Terminal (Private) Limited
Press Release | Report | History
Energy Entity 07-Jul-25 Maintain AA- Stable -
158 Engro Polymer & Chemicals Limited
Press Release | Report | History
Pharma and Chemicals Entity 07-Jul-25 Maintain AA Stable -
159 ZKB Construction (Pvt.) Limited - PP Sukuk - PKR 3.0bln - TBI
Press Release | Report | History
Infrastructure Debt Instrument 04-Jul-25 Preliminary A+ Stable -
160 Liberty Mills Limited
Press Release | Report | History
Textile & Allied Entity 04-Jul-25 Maintain A+ Stable -
161 The Bank of Punjab | Additional Tier 1 Capital TFC | Jun-22
Press Release | Report | History
Banks Debt Instrument 03-Jul-25 Maintain AA- Stable -
162 The Bank of Punjab | Additional Tier 1 Capital TFC | PKR 3.95bln | Feb-24
Press Release | Report | History
Banks Debt Instrument 03-Jul-25 Maintain AA- Stable -
163 The Bank of Punjab | TFC II | April-18
Press Release | Report | History
Banks Debt Instrument 03-Jul-25 Maintain AA Stable -
164 The Bank of Punjab | Tier 2 | TFC-III | Apr-23
Press Release | Report | History
Banks Debt Instrument 03-Jul-25 Maintain AA Stable -
165 The Bank of Punjab | Tier 2 Capital TFC | PKR 7.5695bln | Jun-24
Press Release | Report | History
Banks Debt Instrument 03-Jul-25 Maintain AA Stable -
166 BankIslami Pakistan Limited | ADT-1 Modaraba Sukuk I | PKR 2 Bln| Apr-20
Press Release | Report | History
Banks Debt Instrument 30-Jun-25 Maintain A Stable -
167 BankIslami Pakistan Limited | ADT-1 Modaraba Sukuk II | PKR 1 Bln | Feb-24
Press Release | Report | History
Banks Debt Instrument 30-Jun-25 Maintain A Stable -
168 JS Bank Limited | PPTFC | 2.5bln | Dec-21
Press Release | Report | History
Banks Debt Instrument 30-Jun-25 Maintain AA- Stable -
169 JS Bank Limited | TFC Tier 1 | 2.5bln | Dec-18
Press Release | Report | History
Banks Debt Instrument 30-Jun-25 Maintain A+ Stable -
170 JS Bank Limited | Tier II TFC | 3.5bln | Aug-23
Press Release | Report | History
Banks Debt Instrument 30-Jun-25 Maintain AA- Stable -
171 Bank Alfalah Limited | Additional Tier 1 TFC | 7bln
Press Release | Report | History
Banks Debt Instrument 30-Jun-25 Maintain AA+ Stable -
172 Bank Alfalah Limited | Additional Tier 1 TFC | PKR 7bln | Dec'22
Press Release | Report | History
Banks Debt Instrument 30-Jun-25 Maintain AA+ Stable -
173 The Bank of Punjab
Press Release | Report | History
Banks Entity 30-Jun-25 Maintain AA+ Stable -
174 Askari Bank Limited | TFC VI ( Additional Tier I ) | Jul-18
Press Release | Report | History
Banks Debt Instrument 30-Jun-25 Maintain AA- Stable -
175 Askari Bank Limited | Tier-II TFC (TFC-VII)
Press Release | Report | History
Banks Debt Instrument 30-Jun-25 Maintain AA Stable -
176 JS Bank Limited
Press Release | Report | History
Banks Entity 28-Jun-25 Maintain AA Stable -
177 Bank Alfalah Limited
Press Release | Report | History
Banks Entity 28-Jun-25 Maintain AAA Stable -
178 Rural Community Development Programmes
Press Release | Report | History
Banks Entity 27-Jun-25 Upgrade BBB+ Stable -
179 GuarantCo Limited
Press Release | Report | History
Non Banking Financial Institutes Entity 27-Jun-25 Maintain AAA Stable -
180 Pakistan Aluminium Beverage Cans Limited
Press Release | Report | History
Consumers Goods & Services Entity 27-Jun-25 Maintain AA- Stable -
181 Bank of Khyber
Press Release | Report | History
Banks Entity 27-Jun-25 Maintain A+ Stable -
182 First Women Bank Limited
Press Release | Report | History
Banks Entity 27-Jun-25 Maintain A- Developing Yes
183 Bank AL Habib Limited | Tier II TFC VIII | Sep-21
Press Release | Report | History
Banks Debt Instrument 27-Jun-25 Maintain AAA Stable -
184 Bank AL Habib Limited | Tier-I | TFC VI | Dec-17
Press Release | Report | History
Banks Debt Instrument 27-Jun-25 Maintain AA+ Stable -
185 Bank AL Habib Limited | Tier-I | TFC IX | Apr-22
Press Release | Report | History
Banks Debt Instrument 27-Jun-25 Maintain AA+ Stable -
186 Bank AL Habib Limited | Tier-II | TFC X | PKR 7bln | Dec'22
Press Release | Report | History
Banks Debt Instrument 27-Jun-25 Maintain AAA Stable -
187 Export-Import Bank of Pakistan
Press Release | Report | History
Development Institutions Entity 27-Jun-25 Maintain AAA Stable -
188 Service Long March Tyres (Pvt.) Limited
Press Release | Report | History
Auto and Allied Entity 27-Jun-25 Maintain A+ Stable -
189 Orient Energy Systems (Pvt.) Limited
Press Release | Report | History
Engineering and Technology Entity 27-Jun-25 Maintain A- Stable -
190 Yunus Textile Mills Limited
Press Release | Report | History
Textile & Allied Entity 26-Jun-25 Maintain AA Stable -
191 PARCO Pearl Gas (Pvt.) Limited
Press Release | Report | History
Energy Entity 26-Jun-25 Maintain AA Stable -
192 Fatima Packaging Limited
Press Release | Report | History
Consumers Goods & Services Entity 25-Jun-25 Initial A Stable -
193 Pak Libya Holding Company (Pvt.) Limited
Press Release | Report | History
Development Institutions Entity 25-Jun-25 Upgrade AA Stable -
194 Soneri Bank Limited
Press Release | Report | History
Banks Entity 25-Jun-25 Maintain AA- Stable -
195 Soneri Bank Limited | Tier 1 TFC
Press Release | Report | History
Banks Debt Instrument 25-Jun-25 Maintain A Stable -
196 Soneri Bank Limited | Tier 2 Capital TFC | PKR 4bln | Dec'22
Press Release | Report | History
Banks Debt Instrument 25-Jun-25 Maintain A+ Stable -
197 Pakistan Mobile Communications Limited - Sukuk - PKR 5bln - TBI
Press Release | Report | History
Communication Debt Instrument 25-Jun-25 Preliminary AA Stable -
198 BankIslami Pakistan Limited
Press Release | Report | History
Banks Entity 24-Jun-25 Maintain AA- Stable -
199 Habib Metropolitan Bank Limited
Press Release | Report | History
Banks Entity 24-Jun-25 Maintain AA+ Stable -
200 Allied Bank Limited
Press Release | Report | History
Banks Entity 24-Jun-25 Maintain AAA Stable -
201 Askari Bank Limited
Press Release | Report | History
Banks Entity 24-Jun-25 Maintain AA+ Stable -
202 Faysal Bank Limited
Press Release | Report | History
Banks Entity 24-Jun-25 Maintain AA Positive -
203 Pakistan Kuwait Investment Company (Pvt.) Limited
Press Release | Report | History
Development Institutions Entity 24-Jun-25 Maintain AAA Stable -
204 Gas & Oil Pakistan Limited | PP Sukuk
Press Release | Report | History
Energy Debt Instrument 23-Jun-25 Upgrade AA+ Stable -
205 MCB Bank Limited
Press Release | Report | History
Banks Entity 23-Jun-25 Maintain AAA Stable -
206 MCB Islamic Bank Limited
Press Release | Report | History
Banks Entity 23-Jun-25 Maintain A+ Stable -
207 Bank AL Habib Limited
Press Release | Report | History
Banks Entity 23-Jun-25 Maintain AAA Stable -
208 National Bank of Pakistan
Press Release | Report | History
Banks Entity 23-Jun-25 Maintain AAA Stable -
209 Standard Chartered Bank (Pakistan) Limited
Press Release | Report | History
Banks Entity 23-Jun-25 Maintain AAA Stable -
210 National Credit Guarantee Company Limited
Press Release | Report | History
Non Banking Financial Institutes Entity 20-Jun-25 Initial AAA Stable -
211 Hashwani Hotels Limited
Press Release | Report | History
Consumers Goods & Services Entity 20-Jun-25 Initial A Stable -
212 Engro Holdings Limited (Formerly Dawood Hercules Corporation Limited)
Press Release | Report | History
Holding Company Entity 20-Jun-25 Maintain AA Stable -
213 Saif Textile Mills Limited
Press Release | Report | History
Textile & Allied Entity 20-Jun-25 Maintain A- Stable Yes
214 Roomi Fabrics Limited
Press Release | Report | History
Textile & Allied Entity 20-Jun-25 Maintain A- Stable -
215 Pakistan Microfinance Investment Company Limited
Press Release | Report | History
Development Institutions Entity 20-Jun-25 Maintain AA Stable Yes
216 Narowal Energy Limited
Press Release | Report | History
Energy Entity 20-Jun-25 Maintain AA- Stable -
217 ACT Wind (Pvt.) Limited
Press Release | Report | History
Energy Entity 20-Jun-25 Maintain A+ Stable -
218 PAIR Investment Company Limited
Press Release | Report | History
Development Institutions Entity 20-Jun-25 Maintain AA Stable -
219 Siddiqsons Limited
Press Release | Report | History
Textile & Allied Entity 20-Jun-25 Maintain A- Stable -
220 Parwaaz Financial Services Limited - PPTFC - PKR 1bln - Mar-25
Press Release | Report | History
Non Banking Financial Institutes Debt Instrument 19-Jun-25 Initial AA- Stable -
221 Engro Corporation Limited
Press Release | Report | History
Holding Company Entity 19-Jun-25 Maintain AA+ Stable -
222 Jamal Pipe Industries (Pvt.) Limited
Press Release | Report | History
Infrastructure Entity 19-Jun-25 Maintain BBB Positive -
223 Multinet Pakistan (Pvt.) Limited
Press Release | Report | History
Engineering and Technology Entity 18-Jun-25 Maintain A- Stable -
224 Multinet Pakistan (Pvt.) Limited | Digital Infrastructure Facility | PKR 2100 mln | Aug-22
Press Release | Report | History
Engineering and Technology Debt Instrument 18-Jun-25 Maintain AA Stable -
225 Kohat Textile Mills Limited
Press Release | Report | History
Textile & Allied Entity 17-Jun-25 Maintain A- Stable -
226 ZKB Construction (Pvt.) Limited
Press Release | Report | History
Infrastructure Entity 16-Jun-25 Initial A Stable -
227 Meskay & Femtee Trading Company (Pvt.) Limited
Press Release | Report | History
Agriculture & Allied Entity 16-Jun-25 Maintain A- Stable -
228 Airlink Communication Limited - PPSTS-V - PKR 4.0bln - Mar-25
Press Release | Report | History
Distributors Debt Instrument 16-Jun-25 Initial A+ Stable -
229 Ghani Chemical Industries Limited
Press Release | Report | History
Pharma and Chemicals Entity 13-Jun-25 Maintain A Stable -
230 Packages Limited
Press Release | Report | History
Holding Company Entity 13-Jun-25 Maintain AA+ Stable -
231 E-Vision Manufacturing Limited
Press Release | Report | History
Textile & Allied Entity 13-Jun-25 Maintain BBB Stable -
232 VMS Trading Company
Press Release | Report | History
Agriculture & Allied Entity 13-Jun-25 Maintain BBB Stable -
233 Pakistan International Bulk Terminal Limited
Press Release | Report | History
Energy Entity 13-Jun-25 Maintain A Stable Yes
234 Meko Fabrics (Pvt.) Limited
Press Release | Report | History
Textile & Allied Entity 13-Jun-25 Initial BBB+ Stable -
235 Pearl Petro Industry (Pvt.) Limited
Press Release | Report | History
Consumers Goods & Services Entity 12-Jun-25 Maintain BBB- Positive -
236 HBL Microfinance Bank Limited | Tier 2 Capital TFC | PKR 1.5bln | Mar-24
Press Release | Report | History
Banks Debt Instrument 11-Jun-25 Maintain A Stable -
237 The Hub Power Company Limited
Press Release | Report | History
Energy Entity 05-Jun-25 Maintain AA+ Stable -
238 Hadeed Pakistan (Pvt.) Limited
Press Release | Report | History
Infrastructure Entity 05-Jun-25 Initial A Stable -
239 Masood Textile Mills Limited - PP Sukuk - PKR 2bln - Sep-24
Press Release | Report | History
Textile & Allied Debt Instrument 05-Jun-25 Maintain A+ Stable -
240 Pakistan Refinery Limited
Press Release | Report | History
Energy Entity 05-Jun-25 Maintain A Stable -
241 Orient Power Company (Pvt.) Limited
Press Release | Report | History
Energy Entity 05-Jun-25 Maintain AA- Stable -
242 Pioneer Cement Limited
Press Release | Report | History
Infrastructure Entity 05-Jun-25 Upgrade A+ Stable -
243 Masood Textile Mills Limited
Press Release | Report | History
Textile & Allied Entity 04-Jun-25 Maintain A Stable -
244 K-Electric Limited
Press Release | Report | History
Energy Entity 04-Jun-25 Maintain AA Stable Yes
245 Amreli Steels Limited
Press Release | Report | History
Infrastructure Entity 03-Jun-25 Downgrade CCC Negative Yes
246 Pak-Arab Pipeline Company Limited
Press Release | Report | History
Logistics Entity 30-May-25 Maintain AAA Stable -
247 H. Sadar Ali Akhtar Ali (Pvt.) Limited
Press Release | Report | History
Consumers Goods & Services Entity 30-May-25 Maintain BBB+ Stable -
248 Meezan Plastic Industries (Pvt.) Limited
Press Release | Report | History
Consumers Goods & Services Entity 30-May-25 Maintain BB Stable -
249 Nishat Hotels and Properties Ltd
Press Release | Report | History
Consumers Goods & Services Entity 30-May-25 Maintain A Stable -
250 Panther Tyres Limited
Press Release | Report | History
Auto and Allied Entity 29-May-25 Maintain A Stable -
251 Attock Refinery Limited
Press Release | Report | History
Energy Entity 23-May-25 Maintain AA Stable -
252 National Refinery Limited
Press Release | Report | History
Energy Entity 23-May-25 Maintain AA Developing Yes
253 Olympia Chemicals Limited
Press Release | Report | History
Pharma and Chemicals Entity 22-May-25 Maintain A Stable -
254 Tata Textile Mills Limited
Press Release | Report | History
Textile & Allied Entity 22-May-25 Maintain A Stable Yes
255 Descon Oxychem Limited
Press Release | Report | History
Pharma and Chemicals Entity 16-May-25 Maintain A+ Stable -
256 Entertainment Pakistan Limited
Press Release | Report | History
Infrastructure Entity 16-May-25 Maintain BB Stable -
257 Pakistan Mobile Communications Limited
Press Release | Report | History
Communication Entity 16-May-25 Maintain AA Stable -
258 Martin Dow Marker Limited
Press Release | Report | History
Pharma and Chemicals Entity 15-May-25 Maintain A+ Stable -
259 Apna Microfinance Bank Limited
Press Release | Report | History
Banks Entity 15-May-25 Downgrade BB Negative -
260 Neelum Oil and Ghee Industries (Pvt.) Limited
Press Release | Report | History
Food and Allied Entity 13-May-25 Initial A- Stable -
261 Waheed Hafeez Ghee Industries (Pvt.) Limited
Press Release | Report | History
Food and Allied Entity 13-May-25 Initial A- Stable -
262 H. Nizam Din & Sons (Pvt.) Limited
Press Release | Report | History
Textile & Allied Entity 13-May-25 Maintain A- Stable -
263 BF Biosciences Limited
Press Release | Report | History
Pharma and Chemicals Entity 12-May-25 Initial A- Stable -
264 Beacon Impex (Pvt.) Limited
Press Release | Report | History
Textile & Allied Entity 12-May-25 Maintain A Stable -
265 Rainbow Hosiery (Pvt.) Limited
Press Release | Report | History
Textile & Allied Entity 12-May-25 Upgrade BBB Stable -
266 Ziauddin University
Press Release | Report | History
Consumers Goods & Services Entity 12-May-25 Maintain BBB Stable -
267 Hub Power Holdings Limited
Press Release | Report | History
Holding Company Entity 09-May-25 Maintain AA Stable -
268 Flow Petroleum (Pvt.) Limited
Press Release | Report | History
Energy Entity 06-May-25 Maintain A- Stable -
269 Aslam Energy (Pvt.) Limited
Press Release | Report | History
Energy Entity 05-May-25 Maintain BBB+ Stable -
270 Gas & Oil Pakistan Limited
Press Release | Report | History
Energy Entity 05-May-25 Upgrade AA Stable -
271 Nishat Mills Limited
Press Release | Report | History
Textile & Allied Entity 02-May-25 Maintain AA Stable -
272 Infra Zamin Pakistan Limited
Press Release | Report | History
Non Banking Financial Institutes Entity 02-May-25 Maintain AAA Stable -
273 Sefam (Pvt.) Limited
Press Release | Report | History
Textile & Allied Entity 02-May-25 Maintain A- Stable Yes
274 Mahmood Textile Mills Limited - PPSTS - PKR 3.0bln - Mar-25
Press Release | Report | History
Textile & Allied Debt Instrument 02-May-25 Initial A- Stable -
275 Master Green Energy Limited
Press Release | Report | History
Energy Entity 02-May-25 Maintain A Stable Yes
276 Mobilink Microfinance Bank Limited
Press Release | Report | History
Banks Entity 30-Apr-25 Maintain A Stable -
277 Mahmood Textile Mills Limited
Press Release | Report | History
Textile & Allied Entity 30-Apr-25 Maintain A- Stable -
278 Easypaisa Bank Limited (formerly Telenor Microfinance Bank Limited)
Press Release | Report | History
Banks Entity 30-Apr-25 Upgrade A+ Stable -
279 NRSP Microfinance Bank Limited
Press Release | Report | History
Banks Entity 30-Apr-25 Maintain A- Stable Yes
280 ASA Microfinance Bank (Pakistan) Limited
Press Release | Report | History
Banks Entity 29-Apr-25 Maintain A- Stable -
281 Ferozsons Laboratories Limited
Press Release | Report | History
Pharma and Chemicals Entity 28-Apr-25 Initial A Stable -
282 AGAHE Pakistan
Press Release | Report | History
Banks Entity 26-Apr-25 Upgrade BBB Stable -
283 Union Microfinance Company Limited
Press Release | Report | History
Banks Entity 25-Apr-25 Downgrade BB Stable Yes
284 Pakistan Synthetics Limited
Press Release | Report | History
Consumers Goods & Services Entity 25-Apr-25 Maintain A- Stable -
285 TPL Properties Limited
Press Release | Report | History
Infrastructure Entity 25-Apr-25 Maintain A+ Developing -
286 Alfalah Securities (Pvt.) Limited (Formerly: Alfalah CLSA Securities (Pvt.) Limited)
Press Release | Report | History
Capital Markets Entity 23-Apr-25 Maintain A- Stable Yes
287 Salman Paper Products (Pvt.) Limited
Press Release | Report | History
Consumers Goods & Services Entity 22-Apr-25 Maintain BBB Stable -
288 National Foods Limited
Press Release | Report | History
Food and Allied Entity 18-Apr-25 Maintain AA- Stable -
289 Asif Rice Mills
Press Release | Report | History
Agriculture & Allied Entity 18-Apr-25 Maintain BBB+ Stable -
290 Flying Cement Company Limited
Press Release | Report | History
Infrastructure Entity 18-Apr-25 Maintain A- Stable Yes
291 New Horizon Computer
Press Release | Report | History
Engineering and Technology Entity 18-Apr-25 Upgrade BBB- Stable -
292 GH2 Industries (Pvt.) Limited
Press Release | Report | History
Agriculture & Allied Entity 15-Apr-25 Initial A- Stable -
293 Crown Textile
Press Release | Report | History
Textile & Allied Entity 14-Apr-25 Maintain BBB- Positive -
294 Hilal Foods (Pvt.) Limited
Press Release | Report | History
Food and Allied Entity 11-Apr-25 Initial A- Stable -
295 Packages Real Estate (Pvt.) Limited
Press Release | Report | History
Infrastructure Entity 10-Apr-25 Initial A Stable -
296 Al-Abbas Sugar Mills Limited
Press Release | Report | History
Agriculture & Allied Entity 09-Apr-25 Maintain A+ Stable -
297 Shahzad Textile Mills Limited
Press Release | Report | History
Textile & Allied Entity 08-Apr-25 Maintain A- Stable Yes
298 Lucky Electric Power Company Limited
Press Release | Report | History
Energy Entity 08-Apr-25 Maintain AA Stable -
299 Optimus Capital Management (Pvt.) Limited
Press Release | Report | History
Capital Markets Entity 04-Apr-25 Maintain A- Stable -
300 Noon Sugar Mills Limited
Press Release | Report | History
Agriculture & Allied Entity 04-Apr-25 Maintain BBB+ Stable -
301 Mirpurkhas Sugar Mills Limited
Press Release | Report | History
Agriculture & Allied Entity 04-Apr-25 Maintain A- Stable Yes
302 Jauharabad Sugar Mills Limited
Press Release | Report | History
Agriculture & Allied Entity 04-Apr-25 Maintain BBB+ Stable -
303 Mehran Sugar Mills Limited
Press Release | Report | History
Agriculture & Allied Entity 04-Apr-25 Maintain A- Stable -
304 SGM Sugar Mills Limited
Press Release | Report | History
Agriculture & Allied Entity 04-Apr-25 Maintain BBB Stable -
305 Jhimpir Power (Pvt.) Limited
Press Release | Report | History
Energy Entity 04-Apr-25 Maintain A+ Stable -
306 Hawa Energy (Pvt.) Limited
Press Release | Report | History
Energy Entity 04-Apr-25 Maintain A+ Stable -
307 Quaid-e-Azam Solar Power (Pvt.) Limited
Press Release | Report | History
Energy Entity 04-Apr-25 Maintain AA Stable -
308 Madiha International (Pvt.) Limited
Press Release | Report | History
Consumers Goods & Services Entity 03-Apr-25 Upgrade BB+ Stable -
309 Bikiya Industries (Pvt.) Limited
Press Release | Report | History
Consumers Goods & Services Entity 03-Apr-25 Upgrade BB+ Stable -
310 International Business Management
Press Release | Report | History
Consumers Goods & Services Entity 03-Apr-25 Maintain BB+ Stable -
311 Ghani Chemical Industries Limited | PP Sukuk | PKR 800mln | Jan-24
Press Release | Report | History
Pharma and Chemicals Debt Instrument 03-Apr-25 Maintain A+ Stable -
312 Meridian Energy Limited
Press Release | Report | History
Energy Entity 28-Mar-25 Initial A Stable -
313 HNDS Energy Limited
Press Release | Report | History
Energy Entity 28-Mar-25 Initial A Stable -
314 Helios Power Limited
Press Release | Report | History
Energy Entity 28-Mar-25 Initial A Stable -
315 JS Investments Limited (JSIL)
Press Release | Report | History
Non Banking Financial Institutes Entity 28-Mar-25 Initial A+ Stable -
316 H.A.R Fibres (Pvt.) Limited
Press Release | Report | History
Textile & Allied Entity 28-Mar-25 Maintain BBB- Stable -
317 Sargodha Jute Mills Limited
Press Release | Report | History
Textile & Allied Entity 28-Mar-25 Maintain A- Stable -
318 Ultra Pack (Pvt.) Limited
Press Release | Report | History
Consumers Goods & Services Entity 28-Mar-25 Maintain BBB Stable -
319 Masood Fabrics Limited
Press Release | Report | History
Textile & Allied Entity 28-Mar-25 Maintain A- Stable -
320 JWS Pakistan
Press Release | Report | History
Banks Entity 28-Mar-25 Maintain BBB Stable -
321 SAFCO Microfinance Company (Private) Limited
Press Release | Report | History
Banks Entity 28-Mar-25 Maintain BBB Stable -
322 Reliance Cotton Spinning Mills Limited
Press Release | Report | History
Textile & Allied Entity 28-Mar-25 Maintain A- Stable -
323 Sindh Microfinance Bank Limited
Press Release | Report | History
Banks Entity 28-Mar-25 Maintain A Stable -
324 Qadir Agro Industries (Pvt.) Limited
Press Release | Report | History
Food and Allied Entity 27-Mar-25 Maintain BB+ Stable -
325 A. Rahim Foods (Pvt.) Limited
Press Release | Report | History
Food and Allied Entity 26-Mar-25 Initial A- Stable -
326 Halmore Power Generation Company Limited
Press Release | Report | History
Energy Entity 21-Mar-25 Maintain AA- Stable -
327 Warble (Pvt.) Limited
Press Release | Report | History
Agriculture & Allied Entity 21-Mar-25 Upgrade BBB Stable -
328 Welcon Chemicals (Pvt.) Limited
Press Release | Report | History
Agriculture & Allied Entity 21-Mar-25 Upgrade BBB Stable -
329 KTM Leather (Pvt.) Limited
Press Release | Report | History
Consumers Goods & Services Entity 21-Mar-25 Maintain BBB+ Stable Yes
330 Mount Fuji Textiles Limited
Press Release | Report | History
Textile & Allied Entity 21-Mar-25 Upgrade BBB+ Stable -
331 US Denim Mills (Pvt.) Limited
Press Release | Report | History
Textile & Allied Entity 20-Mar-25 Maintain A Stable -
332 Kohinoor Energy Limited
Press Release | Report | History
Energy Entity 19-Mar-25 Maintain AA Stable -
333 Saif Power Limited
Press Release | Report | History
Energy Entity 19-Mar-25 Maintain AA- Stable -
334 The Punjab Provincial Cooperative Bank Limited
Press Release | Report | History
Banks Entity 19-Mar-25 Maintain BBB+ Stable -
335 Malik MIJ Chunxing Resources Recycling Company Limited
Press Release | Report | History
Engineering and Technology Entity 18-Mar-25 Maintain A- Stable -
336 Descon Engineering Limited
Press Release | Report | History
Infrastructure Entity 14-Mar-25 Maintain AA- Stable -
337 Aba Ali Habib Securities (Pvt.) Limited
Press Release | Report | History
Capital Markets Entity 14-Mar-25 Maintain A- Stable -
338 Hunza Sugar Mills (Pvt.) Limited
Press Release | Report | History
Agriculture & Allied Entity 14-Mar-25 Maintain BBB+ Stable -
339 Unicol Limited
Press Release | Report | History
Agriculture & Allied Entity 14-Mar-25 Maintain A Stable -
340 Fauji Cement Company Limited
Press Release | Report | History
Infrastructure Entity 13-Mar-25 Maintain AA- Stable -
341 Imperium Hospitality (Pvt.) Limited
Press Release | Report | History
Infrastructure Entity 13-Mar-25 Maintain BBB+ Stable -
342 Loads Limited
Press Release | Report | History
Auto and Allied Entity 11-Mar-25 Maintain A Stable -
343 ARY Communications Limited
Press Release | Report | History
Communication Entity 10-Mar-25 Maintain A Stable -
344 Gul Ahmed Textile Mills Limited
Press Release | Report | History
Textile & Allied Entity 07-Mar-25 Maintain AA- Stable -
345 Basfa Textile (Pvt.) Limited
Press Release | Report | History
Textile & Allied Entity 28-Feb-25 Maintain BBB Stable -
346 OLP Financial Services Pakistan Limited (Formerly ORIX Leasing Pakistan Limited)
Press Release | Report | History
Non Banking Financial Institutes Entity 28-Feb-25 Maintain AA+ Stable -
347 Masood Spinning Mills Limited
Press Release | Report | History
Textile & Allied Entity 28-Feb-25 Maintain A- Stable -
348 OLP Modaraba
Press Release | Report | History
Non Banking Financial Institutes Entity 28-Feb-25 Maintain AA Stable -
349 Poly Pack (Pvt.) Limited
Press Release | Report | History
Consumers Goods & Services Entity 28-Feb-25 Maintain A- Stable -
350 Brainchild Communications Pakistan (Pvt.) Limited
Press Release | Report | History
Communication Entity 28-Feb-25 Maintain BBB+ Stable -
351 Allawasaya Textile & Finishing Mills Limited
Press Release | Report | History
Textile & Allied Entity 28-Feb-25 Downgrade BBB- Stable Yes
352 D.G. Khan Cement Company Limited
Press Release | Report | History
Infrastructure Entity 27-Feb-25 Maintain AA- Stable -
353 Newage Cables (Pvt.) Limited
Press Release | Report | History
Energy Entity 27-Feb-25 Maintain A- Stable -
354 Jinn Petroleum (Pvt.) Limited
Press Release | Report | History
Energy Entity 24-Feb-25 Upgrade BBB+ Stable -
355 US Apparel & Textiles (Pvt.) Limited
Press Release | Report | History
Textile & Allied Entity 22-Feb-25 Maintain A+ Stable -
356 Alhamd Corporation (Pvt.) Limited
Press Release | Report | History
Textile & Allied Entity 21-Feb-25 Maintain A- Stable -
357 Jadeed Feeds Industries (Pvt.) Limited
Press Release | Report | History
Food and Allied Entity 21-Feb-25 Maintain A- Stable -
358 Select Technologies (Pvt.) Limited
Press Release | Report | History
Distributors Entity 21-Feb-25 Maintain A Stable -
359 Kashf Foundation
Press Release | Report | History
Banks Entity 21-Feb-25 Maintain A Stable -
360 Hyundai Nishat Motor (Pvt.) Limited
Press Release | Report | History
Auto and Allied Entity 21-Feb-25 Maintain A+ Stable -
361 Fecto Cement Limited
Press Release | Report | History
Infrastructure Entity 21-Feb-25 Maintain A- Stable -
362 Sapphire Electric Company Limited
Press Release | Report | History
Energy Entity 19-Feb-25 Maintain AA- Stable -
363 Liberty Wind Power 1 Limited
Press Release | Report | History
Energy Entity 18-Feb-25 Maintain A Stable -
364 Liberty Wind Power 2 Limited
Press Release | Report | History
Energy Entity 18-Feb-25 Maintain A Stable -
365 Maqbool Textile Mills Limited
Press Release | Report | History
Textile & Allied Entity 14-Feb-25 Downgrade BBB Stable Yes
366 Sindh Abadgars Sugar Mills Limited
Press Release | Report | History
Agriculture & Allied Entity 14-Feb-25 Maintain BBB Positive -
367 K.K. Rice Mills (Pvt.) Limited
Press Release | Report | History
Agriculture & Allied Entity 14-Feb-25 Maintain BBB Stable -
368 Nishat Packaging Limited (formerly Nishat Paper Products Company Limited)
Press Release | Report | History
Consumers Goods & Services Entity 14-Feb-25 Maintain A Stable -
369 Gharibwal Cement Limited
Press Release | Report | History
Infrastructure Entity 14-Feb-25 Maintain A Stable -
370 Gul Ahmed Electric Limited
Press Release | Report | History
Energy Entity 14-Feb-25 Maintain A Stable -
371 Ahmed Fine Textile Mills Limited
Press Release | Report | History
Textile & Allied Entity 13-Feb-25 Maintain A Stable -
372 Denim-E (Pvt.) Limited
Press Release | Report | History
Textile & Allied Entity 07-Feb-25 Maintain BBB- Stable -
373 Shujabad Agro Industries (Pvt.) Limited
Press Release | Report | History
Food and Allied Entity 07-Feb-25 Maintain A- Stable -
374 Punjab Oil Mills Limited
Press Release | Report | History
Food and Allied Entity 07-Feb-25 Maintain BBB+ Stable -
375 Ibrahim Fibres Limited
Press Release | Report | History
Textile & Allied Entity 07-Feb-25 Maintain AA Stable -
376 Jadeed Oil Extraction (Private) Limited
Press Release | Report | History
Food and Allied Entity 07-Feb-25 Maintain BBB- Positive -
377 Mehmooda Maqbool Mills Limited
Press Release | Report | History
Food and Allied Entity 07-Feb-25 Maintain BBB+ Stable -
378 Jasons Commodities
Press Release | Report | History
Agriculture & Allied Entity 31-Jan-25 Maintain BBB Stable -
379 Sitara Heights (Pvt.) Limited
Press Release | Report | History
Infrastructure Entity 30-Jan-25 Maintain A- Negative Yes
380 Abhi (Pvt.) Limited
Press Release | Report | History
Non Banking Financial Institutes Entity 28-Jan-25 Initial A- Stable -
381 KAM International
Press Release | Report | History
Textile & Allied Entity 27-Jan-25 Maintain A- Stable -
382 AL Habib Capital Markets (Pvt.) Limited
Press Release | Report | History
Capital Markets Entity 27-Jan-25 Initial A Stable -
383 Latif Textile Mills (Pvt.) Limited
Press Release | Report | History
Textile & Allied Entity 27-Jan-25 Maintain BBB- Stable -
384 Energy Infrastructure Holding (Pvt.) Limited
Press Release | Report | History
Holding Company Entity 24-Jan-25 Maintain A- Stable -
385 Zahir Khan & Brothers
Press Release | Report | History
Infrastructure Entity 23-Jan-25 Maintain A Stable -
386 Ali Embroidery Mills (Pvt.) Limited
Press Release | Report | History
Textile & Allied Entity 23-Jan-25 Maintain BBB Stable -
387 Techno Time Construction (Pvt.) Limited
Press Release | Report | History
Infrastructure Entity 22-Jan-25 Upgrade BBB+ Stable -
388 Sabirs' Vegetable Oils (Pvt.) Limited
Press Release | Report | History
Food and Allied Entity 20-Jan-25 Maintain BBB Stable -
389 Al-Khair Rice Mills (Pvt.) Limited
Press Release | Report | History
Agriculture & Allied Entity 17-Jan-25 Maintain BBB Stable -
390 Dynamic Packaging (Pvt.) Limited
Press Release | Report | History
Consumers Goods & Services Entity 17-Jan-25 Maintain BBB Stable -
391 University of Management and Technology
Press Release | Report | History
Consumers Goods & Services Entity 15-Jan-25 Maintain A- Stable -
392 ACT2 Din Wind (Pvt) Limited ( formerly: ACT2 Wind (Pvt.) Limited )
Press Release | Report | History
Energy Entity 10-Jan-25 Maintain A- Stable -
393 Oursun Pakistan Limited
Press Release | Report | History
Energy Entity 10-Jan-25 Upgrade A+ Stable -
394 Kohat Cement Company Limited
Press Release | Report | History
Infrastructure Entity 10-Jan-25 Maintain A+ Stable -
395 Tourism Promotion Services (Pakistan) Limited
Press Release | Report | History
Consumers Goods & Services Entity 10-Jan-25 Maintain AA Stable -
396 Mari Energies Limited (Formerly: Mari Petroleum Company Limited)
Press Release | Report | History
Energy Entity 08-Jan-25 Initial AAA Stable -
397 Polaris Danah Natural Resource Development (Pvt.) Limited
Press Release | Report | History
Energy Entity 08-Jan-25 Initial BB Stable -
398 Foundation Power Company Daharki Limited
Press Release | Report | History
Energy Entity 03-Jan-25 Maintain AA- Stable -
399 Multi Resin Industries
Press Release | Report | History
Pharma and Chemicals Entity 03-Jan-25 Maintain BBB- Stable -
400 Jhulay Lal Parboiled Rice Mill
Press Release | Report | History
Agriculture & Allied Entity 31-Dec-24 Initial BBB Stable -
401 Khadija Edible Oil Refinery (Pvt.) Limited
Press Release | Report | History
Food and Allied Entity 31-Dec-24 Initial A- Stable -
402 Kassim Textiles (Pvt.) Limited
Press Release | Report | History
Textile & Allied Entity 30-Dec-24 Maintain A- Stable -
403 Getz Pharma (Pvt.) Limited
Press Release | Report | History
Pharma and Chemicals Entity 30-Dec-24 Maintain AA Stable -
404 Ahmad Hassan Textile Mills Limited
Press Release | Report | History
Textile & Allied Entity 27-Dec-24 Maintain BBB+ Stable -
405 Interwood Mobel (Pvt.) Limited
Press Release | Report | History
Consumers Goods & Services Entity 27-Dec-24 Maintain A- Stable -
406 DEL Engineering Domestic (Pvt.) Limited
Press Release | Report | History
Holding Company Entity 27-Dec-24 Maintain AA- Stable -
407 China Power Hub Generation Company (Pvt.) Limited
Press Release | Report | History
Energy Entity 27-Dec-24 Maintain AA+ Stable -
408 Allah Tawaqal Metals (Pvt.) Limited
Press Release | Report | History
Infrastructure Entity 27-Dec-24 Maintain BB+ Stable -
409 Cherat Cement Company Limited
Press Release | Report | History
Infrastructure Entity 27-Dec-24 Maintain A+ Stable -
410 Dr. Ziauddin Hospital Trust
Press Release | Report | History
Consumers Goods & Services Entity 27-Dec-24 Maintain A- Stable -
411 Service Global Footwear Limited
Press Release | Report | History
Consumers Goods & Services Entity 27-Dec-24 Maintain A+ Stable -
412 HBL Microfinance Bank Limited
Press Release | Report | History
Banks Entity 27-Dec-24 Maintain A+ Stable -
413 Azhar Corporation (Pvt.) Limited
Press Release | Report | History
Food and Allied Entity 26-Dec-24 Upgrade BBB+ Stable -
414 Meko Denim Mills (Pvt.) Limited
Press Release | Report | History
Textile & Allied Entity 26-Dec-24 Maintain BBB+ Stable -
415 Al Rahim Textile Industries Limited
Press Release | Report | History
Textile & Allied Entity 26-Dec-24 Maintain A Stable -
416 Cherat Packaging Limited
Press Release | Report | History
Consumers Goods & Services Entity 23-Dec-24 Maintain A Positive -
417 Siddiqsons Tinplate Limited
Press Release | Report | History
Consumers Goods & Services Entity 23-Dec-24 Maintain A- Developing Yes
418 Advance Telecom (Pvt.) Limited
Press Release | Report | History
Distributors Entity 20-Dec-24 Initial A- Stable -
419 Reliance Weaving Mills Limited
Press Release | Report | History
Textile & Allied Entity 20-Dec-24 Maintain A Stable -
420 Orient Petroleum Inc. (Pakistan Branch)
Press Release | Report | History
Energy Entity 20-Dec-24 Maintain A- Stable -
421 Tariq Glass Industries Limited
Press Release | Report | History
Infrastructure Entity 20-Dec-24 Maintain A+ Stable -
422 PARCO Gunvor Limited
Press Release | Report | History
Energy Entity 20-Dec-24 Maintain AAA Stable Yes
423 Pakistan National Shipping Corporation
Press Release | Report | History
Logistics Entity 20-Dec-24 Maintain AA Stable -
424 United Ethanol Industries Limited
Press Release | Report | History
Agriculture & Allied Entity 20-Dec-24 Maintain A- Stable -
425 TPL Trakker Limited
Press Release | Report | History
Logistics Entity 20-Dec-24 Maintain A- Stable -
426 Intermarket Securities Limited (Formerly: EFG Hermes Pakistan Limited)
Press Release | Report | History
Capital Markets Entity 20-Dec-24 Maintain A- Stable -
427 EXIDE Pakistan Limited
Press Release | Report | History
Auto and Allied Entity 20-Dec-24 Upgrade BBB+ Stable -
428 Hi-Tech Feeds (Pvt.) Limited
Press Release | Report | History
Food and Allied Entity 20-Dec-24 Maintain BBB+ Stable -
429 MACPAC Films Limited
Press Release | Report | History
Consumers Goods & Services Entity 16-Dec-24 Maintain BBB+ Stable -
430 IGI Holdings Limited
Press Release | Report | History
Holding Company Entity 14-Dec-24 Maintain AA Stable -
431 Pharmatec Pakistan (Pvt.) Limited
Press Release | Report | History
Pharma and Chemicals Entity 13-Dec-24 Initial A- Stable -
432 Sapphire Retail Limited
Press Release | Report | History
Textile & Allied Entity 13-Dec-24 Upgrade A Stable -
433 Mega Conglomerate (Pvt.) Limited
Press Release | Report | History
Holding Company Entity 13-Dec-24 Maintain AA- Stable -
434 Sui Southern Gas Company Limited
Press Release | Report | History
Energy Entity 13-Dec-24 Upgrade AA- Stable -
435 JS Global Capital Limited
Press Release | Report | History
Capital Markets Entity 13-Dec-24 Maintain AA Stable -
436 Daewoo Pakistan Express Bus Service Limited
Press Release | Report | History
Auto and Allied Entity 11-Dec-24 Initial A- Stable -
437 Ismail Industries Limited
Press Release | Report | History
Food and Allied Entity 06-Dec-24 Upgrade AA- Stable -
438 Pakistan Oil Mills (Pvt.) Limited
Press Release | Report | History
Food and Allied Entity 06-Dec-24 Maintain A- Stable -
439 Pak Arab Refinery Limited
Press Release | Report | History
Energy Entity 06-Dec-24 Maintain AAA Stable -
440 U Microfinance Bank Limited
Press Release | Report | History
Banks Entity 14-Sep-24 Maintain A+ Stable -
441 ABHI Microfinance Bank Limited (formerly: FINCA Microfinance Bank Limited)
Press Release | Report | History
Banks Entity 23-Feb-24 Downgrade BBB+ Negative Yes
Complaints
Ms. Iram Tahir | Compliance Officer

+92 42 3586 9504-6 | compliance@pacra.com

DISCLAIMER
In case your complaint has not been properly redressed by us, you may lodge your complaint with SECP.