Financial Institutions

Brokerage & Securities Firms

Name Date Rating Type Long Term Short Term Outlook Action
Adam Securities Limited 10/31/2017 Entity BB+ A-3 Stable Upgrade
Adam Securities Limited 11/21/2017 BMR BMR3++ Stable Initial
AKD Securities Limited 8/2/2016 Entity A A-2 Stable Downgrade
Arif Habib Limited 11/24/2017 Entity AA- A-1 Stable Reaffirmed
BIPL Securities Limited 10/9/2017 Entity A- A-2 Stable Initial
BIPL Securities Limited 10/17/2017 BMR BMR2+ Stable Initial
BMA Capital Management Limited 10/5/2016 Entity A- A-2 Stable Initial
Concordia Securities Pvt. Limited 10/31/2017 Entity BB+ A-3 Stable Reaffirmed
Dawood Equities Limited 6/23/2017 Entity BB- A-3 Stable Downgrade
Elixir Securities Pakistan (Pvt.) Limited 4/10/2017 Entity BBB A-3 Stable Initial
Foundation Securities Private Limited 11/1/2017 Entity A- A-2 Stable Initial
Integrated Equities Limited (Formerly: Integrated Equities Private Limited) 10/24/2017 BMR BMR3++ Stable Initial
Intermarket Securities Limited 8/31/2017 Entity BBB+ A-2 Stable Reaffirmed
Intermarket Securities Limited 10/6/2017 BMR BMR2 Stable Initial
Next Capital Limited 1/19/2016 Entity A- A-2 Stable Initial
Pearl Securities Limited 8/31/2017 Entity BBB A-3 Negative Reaffirmed
RFJ Equity (Pvt.) Limited 11/2/2017 Entity Suspended
Taurus Securities Limited 10/2/2017 Entity A A-2 Stable Reaffirmed
Topline Securities Limited (Formerly Topline Securities Pvt. Limited) 7/19/2017 Entity A- A-2 Stable Reaffirmed
Topline Securities Limited (Formerly Topline Securities Pvt. Limited) 11/7/2017 BMR BMR2 Stable Initial