Financial Institutions

Brokerage & Securities Firms

Name Date Sector Long Term Short Term Outlook Action
Adam Securities Limited 10/31/2017 Entity BB+ A-3 Stable Upgrade
  • Press Release
  •   |  History
  • AKD Securities Limited 8/2/2016 Entity A A-2 Stable Downgrade
  • Press Release
  •   |  History
  • Arif Habib Limited 11/29/2016 Entity AA- A-1 Stable Reaffirmed
  • Press Release
  •   |  History
  •   |   Rating Report
  • BIPL Securities Limited 10/9/2017 Entity A- A-2 Stable Initial
  • Press Release
  •   |  History
  •   |   Rating Report
  • BMA Capital Management Limited 10/5/2016 Entity A- A-2 Stable Initial
  • Press Release
  •   |  History
  •   |   Rating Report
  • Concordia Securities Pvt. Limited 10/31/2017 Entity BB+ A-3 Stable Reaffirmed
  • Press Release
  •   |  History
  • Dawood Equities Limited 6/23/2017 Entity BB- A-3 Stable Downgrade
  • Press Release
  •   |  History
  •   |   Rating Report
  • Elixir Securities Pakistan (Pvt.) Limited 4/10/2017 Entity BBB A-3 Stable Initial
  • Press Release
  •   |  History
  •   |   Rating Report
  • Foundation Securities Private Limited 11/1/2017 Entity A- A-2 Stable Initial
  • Press Release
  •   |  History
  •   |   Rating Report
  • Intermarket Securities Limited 8/31/2017 Entity BBB+ A-2 Stable Reaffirmed
  • Press Release
  •   |  History
  • Next Capital Limited 1/19/2016 Entity A- A-2 Stable Initial
  • Press Release
  •   |  History
  •   |   Rating Report
  • Pearl Securities Limited 8/31/2017 Entity BBB A-3 Negative Reaffirmed
  • Press Release
  •   |  History
  • RFJ Equity (Pvt.) Limited 11/2/2017 Entity Suspended
  • Press Release
  •   |  History
  • Taurus Securities Limited 10/2/2017 Entity A A-2 Stable Reaffirmed
  • Press Release
  •   |  History
  •   |   Rating Report
  • Topline Securities Limited (Formerly Topline Securities Pvt. Limited) 7/19/2017 Entity A- A-2 Stable Reaffirmed
  • Press Release
  •   |  History
  •   |   Rating Report
  • Commercial Banks

    Name Date Sector Long Term Short Term Outlook Action
    Al Baraka Bank (Pakistan) Limited 5/17/2017 Entity A+ A-1 Stable Upgrade
  • Press Release
  •   |  History
  •   |   Rating Report
  • Bank Alfalah Ltd. 8/31/2017 Entity AA+ A-1+ Stable Reaffirmed
  • Press Release
  •   |  History
  • Dubai Islamic Bank Pakistan Ltd 5/17/2017 Entity AA- A-1 Stable Upgrade
  • Press Release
  •   |  History
  •   |   Rating Report
  • Faysal Bank Limited 6/30/2017 Entity AA A-1+ Stable Reaffirmed
  • Press Release
  •   |  History
  •   |   Rating Report
  • Habib Bank Limited 9/22/2017 Entity AAA A-1+ Negative Maintained
  • Press Release
  •   |  History
  •   |   Rating Report
  • Meezan Bank Limited 6/22/2017 Entity AA A-1+ Stable Reaffirmed
  • Press Release
  •   |  History
  •   |   Rating Report
  • National Bank of Pakistan 6/30/2017 Entity AAA A-1+ Stable Reaffirmed
  • Press Release
  •   |  History
  •   |   Rating Report
  • Samba Bank Limited 6/23/2017 Entity AA A-1 Stable Reaffirmed
  • Press Release
  •   |  History
  •   |   Rating Report
  • Silk Bank Limited 6/30/2017 Entity A- A-2 Stable Reaffirmed
  • Press Release
  •   |  History
  • Sindh Bank Ltd 6/30/2017 Entity AA A-1+ Rating Watch - Developing Maintained
  • Press Release
  •   |  History
  •   |   Rating Report
  • Summit Bank Limited 6/30/2017 Entity A- A-1 Rating Watch - Developing Maintained
  • Press Release
  •   |  History
  •   |   Rating Report
  • The Bank of Khyber 6/29/2017 Entity A A-1 Stable Reaffirmed
  • Press Release
  •   |  History
  •   |   Rating Report
  • United Bank Limited 6/30/2017 Entity AAA A-1+ Stable Reaffirmed
  • Press Release
  •   |  History
  • DFIs

    Name Date Sector Long Term Short Term Outlook Action
    House Building Finance Company Limited 6/23/2017 Entity A A-1 Stable Upgrade
  • Press Release
  •   |  History
  •   |   Rating Report
  • Pak Brunei Investment Company Limited 6/2/2017 Entity AA+ A-1+ Stable Initial
  • Press Release
  •   |  History
  •   |   Rating Report
  • Pak China Investment Company Limited 6/30/2017 Entity AAA A-1+ Stable Reaffirmed
  • Press Release
  •   |  History
  •   |   Rating Report
  • Pak Oman Investment Company Limited 6/2/2017 Entity AA+ A-1+ Stable Reaffirmed
  • Press Release
  •   |  History
  •   |   Rating Report
  • Saudi Pak Industrial and Agricultural Investment Company Limited 6/19/2017 Entity AA+ A-1+ Stable Reaffirmed
  • Press Release
  •   |  History
  •   |   Rating Report
  • Zarai Taraqiati Bank Limited 6/20/2017 Entity AAA A-1+ Stable Reaffirmed
  • Press Release
  •   |  History
  •   |   Rating Report
  • Investment Banks

    Name Date Sector Long Term Short Term Outlook Action
    First Credit and Investment Bank Limited 12/30/2016 Entity A- A-2 Stable Reaffirmed
  • Press Release
  •   |  History
  •   |   Rating Report
  • Leasing

    Name Date Sector Long Term Short Term Outlook Action
    Grays Leasing Limited 11/9/2016 Entity BB- B Stable Reaffirmed
  • Press Release
  •   |  History
  •   |   Rating Report
  • Pak-Gulf Leasing Company Limited 12/30/2016 Entity A- A-2 Stable Reaffirmed
  • Press Release
  •   |  History
  •   |   Rating Report
  • Sindh Leasing Company Limited 6/20/2017 Entity A+ A-1 Stable Reaffirmed
  • Press Release
  •   |  History
  •   |   Rating Report
  • Micro Finance

    Name Date Sector Long Term Short Term Outlook Action
    Advans Pakistan Microfinance Bank Ltd 9/29/2017 Entity BBB+ A-3 Stable Reaffirmed
  • Press Release
  •   |  History
  • ASA Pakistan Limited 6/23/2017 Entity BBB+ A-3 Stable Initial
  • Press Release
  •   |  History
  •   |   Rating Report
  • FINCA Microfinance Bank Limited 10/31/2017 Entity A A-1 Stable Reaffirmed
  • Press Release
  •   |  History
  • KASHF Foundation 10/31/2017 Entity BBB+ A-3 Stable Reaffirmed
  • Press Release
  •   |  History
  • Khushhali Microfinance Bank Limited 10/31/2017 Entity A+ A-1 Stable Reaffirmed
  • Press Release
  •   |  History
  • NRSP Micro Finance Bank Ltd 10/30/2017 Entity A A-1 Stable Reaffirmed
  • Press Release
  •   |  History
  • Pak Oman Microfinance Bank Limited 9/29/2017 Entity A- A-2 Stable Upgrade
  • Press Release
  •   |  History
  • Telenor Microfinance Bank Limited (Formerly Tameer Micro Finance Bank Ltd). 10/31/2017 Entity A+ A-1 Stable Reaffirmed
  • Press Release
  •   |  History
  • The First MicroFinanceBank Limited 10/31/2017 Entity A+ A-1 Stable Reaffirmed
  • Press Release
  •   |  History
  • U Microfinance Bank Limited 9/29/2017 Entity A- A-2 Stable Reaffirmed
  • Press Release
  •   |  History
  • Modarabas

    Name Date Sector Long Term Short Term Outlook Action
    Allied Rental Modaraba 10/2/2017 Entity A+ A-1 Stable Reaffirmed
  • Press Release
  •   |  History
  •   |   Rating Report
  • First Paramount Modaraba 12/30/2016 Entity BBB A-3 Stable Maintained
  • Press Release
  •   |  History
  •   |   Rating Report
  • Sindh Modaraba 1/16/2017 Entity A+ A-1 Stable Initial
  • Press Release
  •   |  History
  •   |   Rating Report
  • Trust Modaraba 12/6/2016 Entity BBB- A-3 Positive Initial
  • Press Release
  •   |  History
  •   |   Rating Report
  • NBFCs

    Name Date Sector Long Term Short Term Outlook Action
    Cyan Limited 12/13/2016 Entity A A-1 Stable Reaffirmed
  • Press Release
  •   |  History
  •   |   Rating Report
  • LSE Financial Services Limited 8/31/2017 Entity A A-2 Stable Reaffirmed
  • Press Release
  •   |  History
  •   |   Rating Report
  • Corporates

    Cement & Construction

    Name Date Sector Long Term Short Term Outlook Action
    Attock Cement Pakistan Limited 10/31/2017 Entity A+ A-1 Stable Reaffirmed
  • Press Release
  •   |  History
  • Deokjae Connecting Roads (Pvt.) Limited 6/13/2016 Entity A+ A-1 Stable Initial
  • Press Release
  •   |  History
  •   |   Rating Report
  • International Complex Projects Limited 12/31/2016 Entity AA- A-1 Stable Initial
  • Press Release
  •   |  History
  •   |   Rating Report
  • Power Cement Ltd 7/10/2017 Entity A- A-2 Stable Initial
  • Press Release
  •   |  History
  •   |   Rating Report
  • Superhighway Construction Operation and Rehabilitation Engineering (Pvt.) Limited 10/21/2016 Entity AA- A-1 Stable Initial
  • Press Release
  •   |  History
  •   |   Rating Report
  • Thatta Cement Company Ltd 10/27/2017 Entity A- A-2 Stable Reaffirmed
  • Press Release
  •   |  History
  •   |   Rating Report
  • Chemicals & Pharma

    Name Date Sector Long Term Short Term Outlook Action
    Aspin Pharma (Private) Limited 10/18/2017 Entity A A-2 Stable Initial
  • Press Release
  •   |  History
  •   |   Rating Report
  • Ittehad Chemicals Limited 12/20/2016 Entity A- A-2 Stable Reaffirmed
  • Press Release
  •   |  History
  •   |   Rating Report
  • Sitara Chemical Industries Limited 11/14/2017 Entity A+ A-1 Positive Maintained
  • Press Release
  •   |  History
  •   |   Rating Report
  • Consumer Goods

    Name Date Sector Long Term Short Term Outlook Action
    Bunny's Limited 9/29/2017 Entity A- A-2 Stable Reaffirmed
  • Press Release
  •   |  History
  • Haleeb Foods Limited 10/31/2017 Entity A A-2 Stable Initial
  • Press Release
  •   |  History
  •   |   Rating Report
  • Matco Foods Pvt. Ltd. 4/4/2017 Entity A- A-2 Stable Reaffirmed
  • Press Release
  •   |  History
  •   |   Rating Report
  • National Foods Limited 12/9/2016 Entity AA- A-1 Stable Reaffirmed
  • Press Release
  •   |  History
  •   |   Rating Report
  • Treet Corporation Limited 12/20/2016 Entity AA- A-1 Stable Reaffirmed
  • Press Release
  •   |  History
  •   |   Rating Report
  • Fertilizer

    Name Date Sector Long Term Short Term Outlook Action
    Fatima Fertilizer Company Limited 12/21/2016 Entity AA- A-1 Stable Reaffirmed
  • Press Release
  •   |  History
  •   |   Rating Report
  • Miscellaneous

    Name Date Sector Long Term Short Term Outlook Action
    Independent Media Corporation Pvt. Ltd 11/2/2015 Entity BB+ A-3 Stable Downgrade
  • Press Release
  •   |  History
  •   |   Rating Report
  • International Brands Limited 7/20/2017 Entity A A-2 Stable Initial
  • Press Release
  •   |  History
  •   |   Rating Report
  • Novatex Limited 9/25/2017 Entity AA- A-1 Stable Initial
  • Press Release
  •   |  History
  •   |   Rating Report
  • Omar Jibran Engineering Industries Limited 7/6/2017 Entity A- A-2 Stable Initial
  • Press Release
  •   |  History
  •   |   Rating Report
  • Oil & Gas

    Name Date Sector Long Term Short Term Outlook Action
    Hascol Petroleum Limited 11/1/2017 Entity AA- A-1 Stable Upgrade
  • Press Release
  •   |  History
  •   |   Rating Report
  • Jamshoro Joint Venture Limited 1/3/2017 Entity A+ A-1 Positive Reaffirmed
  • Press Release
  •   |  History
  •   |   Rating Report
  • Oil & Gas Development Company Limited 10/31/2017 Entity AAA A-1+ Stable Reaffirmed
  • Press Release
  •   |  History
  • PGP Consortium Limited 10/7/2016 Entity A- A-2 Stable Initial
  • Press Release
  •   |  History
  •   |   Rating Report
  • Paper & Packaging

    Name Date Sector Long Term Short Term Outlook Action
    Century Paper & Board Mills Limited 5/23/2016 Entity A+ A-1 Stable Reaffirmed
  • Press Release
  •   |  History
  •   |   Rating Report
  • Power Companies

    Name Date Sector Long Term Short Term Outlook Action
    Foundation Wind Energy I Limited 10/31/2017 Entity A+ A-1 Stable Reaffirmed
  • Press Release
  •   |  History
  • K-Electric Limited (Formerly: Karachi Electric Supply Company Limited) 11/3/2016 Entity AA A-1 Stable Note
  • Press Release
  •   |  History
  • Kot Addu Power Co. Ltd. 11/28/2016 Entity AA+ A-1+ Stable Reaffirmed
  • Press Release
  •   |  History
  •   |   Rating Report
  • National Parks Power Management Company Private Limited 10/24/2017 Entity AA+ A-1+ Stable Initial
  • Press Release
  •   |  History
  •   |   Rating Report
  • Quaid-e-Azam Solar Power (Pvt.) Limited 11/17/2017 Entity AA- A-1 Rating Watch - Developing Maintained
  • Press Release
  •   |  History
  •   |   Rating Report
  • Quaid-e-Azam Thermal Power (Pvt.) Limited 10/31/2017 Entity AA A-1+ Stable Reaffirmed
  • Press Release
  •   |  History
  • Zephyr Power (Pvt) Limited 8/16/2017 Entity A- A-2 Stable Initial
  • Press Release
  •   |  History
  •   |   Rating Report
  • Steel & Allied Products

    Name Date Sector Long Term Short Term Outlook Action
    Aisha Steel Mills Limited 10/5/2017 Entity A- A-2 Stable Initial
  • Press Release
  •   |  History
  •   |   Rating Report
  • Crescent Steel & Allied Products Limited 7/3/2017 Entity A+ A-2 Stable Initial
  • Press Release
  •   |  History
  • Data Steel Pipes Industries (Pvt) Limited 10/23/2017 Entity BBB A-3 Stable Initial
  • Press Release
  •   |  History
  •   |   Rating Report
  • International Industries Limited 1/13/2017 Entity AA- A-1 Stable Initial
  • Press Release
  •   |  History
  •   |   Rating Report
  • International Steels Limited 1/13/2017 Entity A+ A-1 Stable Initial
  • Press Release
  •   |  History
  •   |   Rating Report
  • Sugar

    Name Date Sector Long Term Short Term Outlook Action
    Al-Noor Sugar Mills Ltd. 4/27/2016 Entity A- A-2 Stable Reaffirmed
  • Press Release
  •   |  History
  •   |   Rating Report
  • Deharki Sugar Mills (Pvt) Limited 10/31/2017 Entity A A-2 Stable Reaffirmed
  • Press Release
  •   |  History
  • JDW Sugar Mills Ltd 10/31/2017 Entity A+ A-1 Stable Reaffirmed
  • Press Release
  •   |  History
  • Shahmurad Sugar Mills Ltd 4/28/2016 Entity A- A-2 Stable Reaffirmed
  • Press Release
  •   |  History
  •   |   Rating Report
  • Tanneries and Leather Products

    Name Date Sector Long Term Short Term Outlook Action
    Mima Leather (Pvt) Ltd. 10/9/2017 Entity BBB- A-3 Negative Downgrade
  • Press Release
  •   |  History
  •   |   Rating Report
  • Muhammad Shafi Tanneries Pvt. Ltd 6/17/2015 Entity A- A-2 Stable Reaffirmed
  • Press Release
  •   |  History
  •   |   Rating Report
  • Universal Leather Pvt. Ltd. 10/16/2017 Entity BBB A-3 Negative Downgrade
  • Press Release
  •   |  History
  •   |   Rating Report
  • Textiles

    Name Date Sector Long Term Short Term Outlook Action
    Bhanero Textile Mills Ltd 9/28/2017 Entity A+ A-1 Stable Initial
  • Press Release
  •   |  History
  •   |   Rating Report
  • Indus Dyeing & Manufacturing Co Limited 1/26/2017 Entity A+ A-1 Stable Reaffirmed
  • Press Release
  •   |  History
  •   |   Rating Report
  • Rajby Textiles (Pvt) Limited 10/27/2016 Entity A- A-1 Stable Initial
  • Press Release
  •   |  History
  •   |   Rating Report
  • Sadaqat Limited 12/27/2016 Entity A A-2 Stable Upgrade
  • Press Release
  •   |  History
  •   |   Rating Report
  • Sapphire Textile Mills Limited 10/25/2016 Entity A+ A-1 Positive Reaffirmed
  • Press Release
  •   |  History
  •   |   Rating Report
  • Union Fabrics (Pvt) Ltd 11/21/2017 Entity A- A-2 Stable Initial
  • Press Release
  •   |  History
  •   |   Rating Report
  • Transport

    Name Date Sector Long Term Short Term Outlook Action
    Ali Gohar & Company Pvt. Ltd 11/7/2017 Entity A A-2 Stable Reaffirmed
  • Press Release
  •   |  History
  •   |   Rating Report
  • Shaheen Air International Limited 9/23/2016 Entity A- A-2 Stable Initial
  • Press Release
  •   |  History
  •   |   Rating Report