| Sr.No | Entity | Sector | Rating Type | Dissemination Date |
Action | Rating | Outlook | Rating Watch |
|---|---|---|---|---|---|---|---|---|
| 1 | Union Microfinance Company Limited Press Release | Report | History |
Banks | Entity | 22-May-26 | Initial | BB | Stable | - |
| 2 | Apna Microfinance Bank Limited Press Release | Report | History |
Banks | Entity | 15-May-26 | Maintain | BB | Negative | Yes |
| 3 | Adam Securities Limited Press Release | Report | History |
Capital Markets | Entity | 11-May-26 | Initial | A | Stable | - |
| 4 | Infra Zamin Pakistan Limited Press Release | Report | History |
Non Banking Financial Institutes | Entity | 30-Apr-26 | Maintain | AAA | Stable | - |
| 5 | Mobilink Microfinance Bank Limited Press Release | Report | History |
Banks | Entity | 30-Apr-26 | Maintain | A | Stable | - |
| 6 | NRSP Microfinance Bank Limited Press Release | Report | History |
Banks | Entity | 30-Apr-26 | Maintain | A- | Stable | - |
| 7 | ASA Microfinance Bank (Pakistan) Limited Press Release | Report | History |
Banks | Entity | 29-Apr-26 | Maintain | A- | Stable | - |
| 8 | AGAHE Pakistan Press Release | Report | History |
Banks | Entity | 24-Apr-26 | Maintain | BBB | Stable | - |
| 9 | Optimus Capital Management (Pvt.) Limited Press Release | Report | History |
Capital Markets | Entity | 03-Apr-26 | Maintain | A- | Stable | - |
| 10 | Faysal Bank Limited Press Release | Report | History |
Banks | Entity | 31-Mar-26 | Upgrade | AA+ | Stable | - |
| 11 | Sindh Microfinance Bank Limited Press Release | Report | History |
Banks | Entity | 30-Mar-26 | Maintain | A | Stable | - |
| 12 | JS Investments Limited (JSIL) Press Release | Report | History |
Non Banking Financial Institutes | Entity | 28-Mar-26 | Maintain | A+ | Stable | - |
| 13 | SAFCO Microfinance Company (Private) Limited Press Release | Report | History |
Banks | Entity | 26-Mar-26 | Maintain | BBB | Stable | - |
| 14 | JWS Pakistan Press Release | Report | History |
Banks | Entity | 26-Mar-26 | Maintain | BBB | Positive | - |
| 15 | The Punjab Provincial Cooperative Bank Limited Press Release | Report | History |
Banks | Entity | 19-Mar-26 | Upgrade | A- | Stable | - |
| 16 | Aba Ali Habib Securities (Pvt.) Limited Press Release | Report | History |
Capital Markets | Entity | 12-Mar-26 | Maintain | A- | Stable | - |
| 17 | UBL Financial Services (Pvt.) Limited Press Release | Report | History |
Capital Markets | Entity | 03-Mar-26 | Initial | A- | Stable | - |
| 18 | OLP Modaraba Press Release | Report | History |
Non Banking Financial Institutes | Entity | 27-Feb-26 | Maintain | AA | Stable | - |
| 19 | Kashf Foundation Press Release | Report | History |
Banks | Entity | 20-Feb-26 | Maintain | A | Stable | - |
| 20 | FFO Support Program Press Release | Report | History |
Banks | Entity | 10-Feb-26 | Initial | BB+ | Stable | - |
| 21 | AL Habib Exchange Company (Pvt.) Limited Press Release | Report | History |
Non Banking Financial Institutes | Entity | 06-Feb-26 | Initial | A+ | Stable | - |
| 22 | Mashreq Bank Pakistan Limited Press Release | Report | History |
Banks | Entity | 29-Jan-26 | Initial | AA | Stable | - |
| 23 | AL Habib Capital Markets (Pvt.) Limited Press Release | Report | History |
Capital Markets | Entity | 27-Jan-26 | Maintain | A | Stable | - |
| 24 | HBL Microfinance Bank Limited Press Release | Report | History |
Banks | Entity | 26-Dec-25 | Maintain | A+ | Stable | - |
| 25 | Intermarket Securities Limited (Formerly: EFG Hermes Pakistan Limited) Press Release | Report | History |
Capital Markets | Entity | 19-Dec-25 | Maintain | A- | Stable | - |
| 26 | JS Global Capital Limited Press Release | Report | History |
Capital Markets | Entity | 12-Dec-25 | Maintain | AA | Stable | - |
| 27 | Ismail Iqbal Securities (Pvt.) Limited Press Release | Report | History |
Capital Markets | Entity | 28-Nov-25 | Maintain | A- | Stable | - |
| 28 | Samba Bank Limited Press Release | Report | History |
Banks | Entity | 25-Nov-25 | Maintain | AA | Stable | - |
| 29 | KTRADE Securities Limited Press Release | Report | History |
Capital Markets | Entity | 21-Nov-25 | Maintain | A- | Stable | - |
| 30 | ISE Towers REIT Management Company Limited Press Release | Report | History |
Non Banking Financial Institutes | Entity | 28-Oct-25 | Maintain | A | Stable | - |
| 31 | Orient Rental Modaraba Press Release | Report | History |
Non Banking Financial Institutes | Entity | 30-Sep-25 | Maintain | A- | Stable | - |
| 32 | Parwaaz Financial Services Limited Press Release | Report | History |
Non Banking Financial Institutes | Entity | 26-Sep-25 | Maintain | A+ | Stable | - |
| 33 | Thardeep Microfinance Foundation Press Release | Report | History |
Banks | Entity | 25-Sep-25 | Maintain | BB | Stable | Yes |
| 34 | Escorts Investment Bank Limited Press Release | Report | History |
Non Banking Financial Institutes | Entity | 19-Sep-25 | Downgrade | BBB- | Stable | - |
| 35 | Dawood Equities Limited Press Release | Report | History |
Capital Markets | Entity | 19-Sep-25 | Maintain | A- | Stable | - |
| 36 | Trust Securities & Brokerage Limited Press Release | Report | History |
Capital Markets | Entity | 19-Sep-25 | Maintain | A- | Stable | - |
| 37 | First Punjab Modaraba Press Release | Report | History |
Non Banking Financial Institutes | Entity | 19-Sep-25 | Maintain | A- | Stable | - |
| 38 | First Habib Modaraba Press Release | Report | History |
Non Banking Financial Institutes | Entity | 19-Sep-25 | Maintain | AA+ | Stable | - |
| 39 | National Rural Support Programme Press Release | Report | History |
Banks | Entity | 15-Jul-25 | Upgrade | A | Stable | - |
| 40 | The Bank of Punjab Press Release | Report | History |
Banks | Entity | 30-Jun-25 | Maintain | AA+ | Stable | - |
| 41 | JS Bank Limited Press Release | Report | History |
Banks | Entity | 28-Jun-25 | Maintain | AA | Stable | - |
| 42 | Bank Alfalah Limited Press Release | Report | History |
Banks | Entity | 28-Jun-25 | Maintain | AAA | Stable | - |
| 43 | Rural Community Development Programmes Press Release | Report | History |
Banks | Entity | 27-Jun-25 | Upgrade | BBB+ | Stable | - |
| 44 | GuarantCo Limited Press Release | Report | History |
Non Banking Financial Institutes | Entity | 27-Jun-25 | Maintain | AAA | Stable | - |
| 45 | Bank of Khyber Press Release | Report | History |
Banks | Entity | 27-Jun-25 | Maintain | A+ | Stable | - |
| 46 | First Women Bank Limited Press Release | Report | History |
Banks | Entity | 27-Jun-25 | Maintain | A- | Developing | Yes |
| 47 | Export-Import Bank of Pakistan Press Release | Report | History |
Development Institutions | Entity | 27-Jun-25 | Maintain | AAA | Stable | - |
| 48 | Pak Libya Holding Company (Pvt.) Limited Press Release | Report | History |
Development Institutions | Entity | 25-Jun-25 | Upgrade | AA | Stable | - |
| 49 | Soneri Bank Limited Press Release | Report | History |
Banks | Entity | 25-Jun-25 | Maintain | AA- | Stable | - |
| 50 | BankIslami Pakistan Limited Press Release | Report | History |
Banks | Entity | 24-Jun-25 | Maintain | AA- | Stable | - |
| 51 | Habib Metropolitan Bank Limited Press Release | Report | History |
Banks | Entity | 24-Jun-25 | Maintain | AA+ | Stable | - |
| 52 | Allied Bank Limited Press Release | Report | History |
Banks | Entity | 24-Jun-25 | Maintain | AAA | Stable | - |
| 53 | Askari Bank Limited Press Release | Report | History |
Banks | Entity | 24-Jun-25 | Maintain | AA+ | Stable | - |
| 54 | Pakistan Kuwait Investment Company (Pvt.) Limited Press Release | Report | History |
Development Institutions | Entity | 24-Jun-25 | Maintain | AAA | Stable | - |
| 55 | MCB Bank Limited Press Release | Report | History |
Banks | Entity | 23-Jun-25 | Maintain | AAA | Stable | - |
| 56 | MCB Islamic Bank Limited Press Release | Report | History |
Banks | Entity | 23-Jun-25 | Maintain | A+ | Stable | - |
| 57 | Bank AL Habib Limited Press Release | Report | History |
Banks | Entity | 23-Jun-25 | Maintain | AAA | Stable | - |
| 58 | National Bank of Pakistan Press Release | Report | History |
Banks | Entity | 23-Jun-25 | Maintain | AAA | Stable | - |
| 59 | Standard Chartered Bank (Pakistan) Limited Press Release | Report | History |
Banks | Entity | 23-Jun-25 | Maintain | AAA | Stable | - |
| 60 | National Credit Guarantee Company Limited Press Release | Report | History |
Non Banking Financial Institutes | Entity | 20-Jun-25 | Initial | AAA | Stable | - |
| 61 | Pakistan Microfinance Investment Company Limited Press Release | Report | History |
Development Institutions | Entity | 20-Jun-25 | Maintain | AA | Stable | Yes |
| 62 | PAIR Investment Company Limited Press Release | Report | History |
Development Institutions | Entity | 20-Jun-25 | Maintain | AA | Stable | - |
| 63 | Easypaisa Bank Limited (formerly Telenor Microfinance Bank Limited) Press Release | Report | History |
Banks | Entity | 30-Apr-25 | Upgrade | A+ | Stable | - |
| 64 | U Microfinance Bank Limited Press Release | Report | History |
Banks | Entity | 14-Sep-24 | Maintain | A+ | Stable | - |
| 65 | ABHI Microfinance Bank Limited (formerly: FINCA Microfinance Bank Limited) Press Release | Report | History |
Banks | Entity | 23-Feb-24 | Downgrade | BBB+ | Negative | Yes |