Financial Institutions

Commercial Banks
Name Date RATING TYPE Long Term Short Term Outlook Action
Al Baraka Bank (Pakistan) Limited 6/27/2020 Sukuk 1 A Stable Reaffirmed
Askari Bank Ltd 6/30/2020 TFC-5 AA- Stable Reaffirmed
Bank Alfalah Ltd. 6/30/2020 TFC-1 AA- Stable Reaffirmed
Dubai Islamic Bank Pakistan Ltd 6/30/2020 Sukuk 2 A+ Stable Reaffirmed
Dubai Islamic Bank Pakistan Ltd 6/30/2020 Sukuk 1 AA- Stable Reaffirmed
Habib Bank Limited 6/30/2020 TFC-2 AA+ Stable Reaffirmed
Habib Bank Limited 6/30/2020 TFC-1 AAA Stable Reaffirmed
Meezan Bank Limited 6/30/2020 Sukuk 3 AA Stable Reaffirmed
Meezan Bank Limited 6/30/2020 Sukuk 2 AA- Stable Reaffirmed
Meezan Bank Limited 6/30/2020 Sukuk 1 AA Stable Reaffirmed
Silk Bank Limited 10/12/2020 TFC-1 BBB+ Rating Watch - Negative Maintained
Summit Bank Limited 2/1/2019 TFC-1 D (SO) Default
United Bank Limited 6/29/2020 TFC-5 AA+ Stable Reaffirmed

Micro Finance
Name Date RATING TYPE Long Term Short Term Outlook Action
Khushhali Microfinance Bank Limited 4/29/2020 TFC-1 A Rating Watch - Developing Maintained
Khushhali Microfinance Bank Limited 4/29/2020 TFC-2 A Rating Watch - Developing Final
U Microfinance Bank Limited 4/30/2020 TFC-1 A- Rating Watch - Developing Maintained

Modarabas
Name Date RATING TYPE Long Term Short Term Outlook Action
BRR Guardian Modaraba 7/9/2010 TFC-1 D Default

NBFCs
Name Date RATING TYPE Long Term Short Term Outlook Action
Al-Zamin Leasing Corporation Limited 1/9/2013 TFC-2 D Default
Saudi Pak Leasing Company Limited 10/4/2010 TFC-1 D Default

Corporates

Cement & Construction
Name Date RATING TYPE Long Term Short Term Outlook Action
Eden Housing Ltd. 1/27/2010 TFC-1 D Default
Javedan Corporation Ltd. 12/21/2020 Sukuk 1 AA- Stable Reaffirmed

Consumer Goods
Name Date RATING TYPE Long Term Short Term Outlook Action
Shakarganj Food Products Limited 11/23/2020 Sukuk 1 BBB+ Negative Downgrade

Medical and Pharmaceutical
Name Date RATING TYPE Long Term Short Term Outlook Action
Aspin Pharma (Private) Limited 10/19/2020 Sukuk 1 A Stable Reaffirmed

Miscellaneous
Name Date RATING TYPE Long Term Short Term Outlook Action
Avari Hotels Limited 4/10/2020 TFC-3 AA Stable Final
Telecard Ltd 6/3/2011 TFC-1 D Default

Oil & Gas
Name Date RATING TYPE Long Term Short Term Outlook Action
Hascol Petroleum Limited 4/17/2020 Sukuk 1 BBB- Negative Downgrade
PGP Consortium Limited 11/27/2020 Pref Share BBB Rating Watch - Developing Reaffirmed

Power Companies
Name Date RATING TYPE Long Term Short Term Outlook Action
K-Electric Limited 10/26/2020 Sukuk 4 AA+ Stable Reaffirmed
K-Electric Limited 4/16/2020 Sukuk 5 AA+ Stable Reaffirmed
Neelum Jhelum Hydropower Company (Pvt) Ltd 12/30/2020 Sukuk 1 AAA Stable Reaffirmed
Sindh Nooriabad Power Company Limited 9/21/2020 TFC-1 Suspended
Sindh Nooriabad Power Company Phase-II (Pvt.) Limited 9/21/2020 TFC-2 Suspended

Steel & Allied Products
Name Date RATING TYPE Long Term Short Term Outlook Action
Agha Steel Industries 1/18/2021 Sukuk 1 A+ Stable Upgrade
Mughal Iron & Steel Industries Limited 10/5/2020 Sukuk 1 A+ Stable Preliminary

Storage and Distribution
Name Date RATING TYPE Long Term Short Term Outlook Action
International Brands Limited 5/21/2020 Sukuk 1 AA Rating Watch - Developing Maintained

Textiles
Name Date RATING TYPE Long Term Short Term Outlook Action
Amtex Limited 1/3/2011 TFC-1 D Default
Masood Textile Mills Limited 4/27/2020 Sukuk 1 A Rating Watch - Negative Maintained
Quetta Textile Mills Ltd 3/30/2012 TFC-1 D Default