| Sr.No | Entity | Sector | Rating Type | Dissemination Date |
Action | LT Rating | ST Rating | Outlook | Rating Watch |
|---|---|---|---|---|---|---|---|---|---|
| 1 | K-Electric | PPSTS-13 | PKR 5bln | TBI Press Release | Report | History |
Energy | Debt Instrument | 06-Feb-23 | Preliminary | AA | A1+ | Stable | - |
| 2 | K-Electric | PPSTS-12 | PKR 5bln | Dec-22 Press Release | Report | History |
Energy | Debt Instrument | 02-Feb-23 | Initial | AA | A1+ | Stable | - |
| 3 | Mobilink Microfinance Bank Limited | PPTFC | Dec-22 Press Release | Report | History |
Banks | Debt Instrument | 02-Feb-23 | Initial | A- | - | Stable | - |
| 4 | China Power Hub Generation Company (Pvt.) Limited | PPSTS-2 | PKR 5bln | Dec-22 Press Release | Report | History |
Energy | Debt Instrument | 02-Feb-23 | Initial | AA+ | A1+ | Stable | - |
| 5 | Lucky Electric Power Company Limited | PPSTS-6 | PKR 4bln | Dec-22 Press Release | Report | History |
Energy | Debt Instrument | 02-Feb-23 | Initial | AA | A1+ | Stable | - |
| 6 | Soneri Bank Limited | Tier 2 Capital TFC | PKR 4bln | Dec'22 Press Release | Report | History |
Banks | Debt Instrument | 01-Feb-23 | Initial | A+ | Stable | - | |
| 7 | Khushhali Microfinance Bank Limited | PPTFC | PKR 1.5bln | Jun-22 Press Release | Report | History |
Banks | Debt Instrument | 30-Jan-23 | Downgrade | BB | Developing | Yes | |
| 8 | Ghani Chemical Industries Limited | PP Sukuk | PKR 800mln | TBI Press Release | Report | History |
Pharma and Chemicals | Debt Instrument | 27-Jan-23 | Preliminary | A | Stable | - | |
| 9 | Loads Limited | ICP-1 | Dec-22 Press Release | Report | History |
Auto and Allied | Debt Instrument | 27-Jan-23 | Initial | A | A1 | Stable | - |
| 10 | Nishat Mills Limited | PPSTS Press Release | Report | History |
Textile & Allied | Debt Instrument | 26-Jan-23 | Initial | AA | A1+ | Stable | - |
| 11 | Mughal Iron & Steel Industries Limited | PP Sukuk | PKR 5bln | TBI Press Release | Report | History |
Infrastructure | Debt Instrument | 25-Jan-23 | Preliminary | AA- | - | Stable | - |
| 12 | Pak Elektron Limited | PP Sukuk Press Release | Report | History |
Consumers Goods & Services | Debt Instrument | 28-Dec-22 | Maintain | A+ | A1 | Stable | - |
| 13 | NRSP Microfinance Bank Limited | Tier II TFC Press Release | Report | History |
Banks | Debt Instrument | 21-Dec-22 | Maintain | A- | - | Negative | Yes |
| 14 | Lucky Electric Power Company Limited | PPSTS-7 | PKR 5bln | TBI Press Release | Report | History |
Energy | Debt Instrument | 21-Dec-22 | Preliminary | AA | A1+ | Stable | - |
| 15 | U Microfinance Bank Limited | TFC | Dec-22 Press Release | Report | History |
Banks | Debt Instrument | 20-Dec-22 | Preliminary | AA- | Stable | - | |
| 16 | Lucky Electric Power Company Limited | PPCP-2 | PKR 6bln | Nov-22 Press Release | Report | History |
Energy | Debt Instrument | 16-Dec-22 | Initial | AA | A1+ | Stable | - |
| 17 | Lucky Electric Power Company Limited | PPSTS-4 | PKR 5bln | Sep-22 Press Release | Report | History |
Energy | Debt Instrument | 16-Dec-22 | Initial | AA | A1+ | Stable | - |
| 18 | WAPDA | PPTFC | May-17 Press Release | Report | History |
Energy | Debt Instrument | 16-Dec-22 | Maintain | AAA | Stable | - | |
| 19 | Lucky Electric Power Company Limited | PPSTS-5 | PKR 7bln | Oct-22 Press Release | Report | History |
Energy | Debt Instrument | 16-Dec-22 | Initial | AA | A1+ | Stable | - |
| 20 | WAPDA | Sukuk | May-17 Press Release | Report | History |
Energy | Debt Instrument | 16-Dec-22 | Maintain | AAA | Stable | - | |
| 21 | Mughal Iron & Steel Industries Limited | PPCP | PKR 2 bln | TBI Press Release | Report | History |
Infrastructure | Debt Instrument | 12-Dec-22 | Preliminary | A+ | A1 | Stable | - |
| 22 | K-Electric | PPSTS-11 | PKR 5bln | Oct-22 Press Release | Report | History |
Energy | Debt Instrument | 08-Dec-22 | Initial | AA | A1+ | Stable | - |
| 23 | Bank AL Habib Limited | Tier-II | TFC X | PKR 7bln | Dec'22 Press Release | Report | History |
Banks | Debt Instrument | 08-Dec-22 | Preliminary | AAA | Stable | - | |
| 24 | Byco Petroleum Pakistan Limited | Sukuk | Jan-17 Press Release | Report | History |
Energy | Debt Instrument | 25-Nov-22 | Maintain | AAA | - | Stable | - |
| 25 | WAPDA Dasu Sukuk-B Press Release | Report | History |
Energy | Debt Instrument | 23-Nov-22 | Maintain | AAA | - | Stable | - |
| 26 | WAPDA Dasu TFC-B Press Release | Report | History |
Energy | Debt Instrument | 18-Nov-22 | Maintain | AAA | - | Stable | - |
| 27 | Bank Alfalah Limited | Additional Tier 1 TFC | PKR 7bln | Dec'22 Press Release | Report | History |
Banks | Debt Instrument | 26-Sep-22 | Preliminary | AA- | - | Stable | - |
| 28 | Kashf Foundation | PPTFC Press Release | Report | History |
Banks | Debt Instrument | 24-Sep-22 | Maintain | A | - | Stable | - |
| 29 | The Hub Power Company Limited | PPSTS | 4.5bln | Apr-22 Press Release | Report | History |
Energy | Debt Instrument | 09-Sep-22 | Initial | AA+ | A1+ | Stable | - |
| 30 | Lucky Electric Power Company Limited | PPSTS-2 | PKR 7bln | Jun-22 Press Release | Report | History |
Energy | Debt Instrument | 06-Sep-22 | Initial | AA | A1+ | Stable | - |
| 31 | Lucky Electric Power Company Limited | PPSTS-3 | PKR 5bln | Jul-22 Press Release | Report | History |
Energy | Debt Instrument | 06-Sep-22 | Initial | AA | A1+ | Stable | - |
| 32 | The Bank of Punjab | Additional Tier 1 Capital TFC | Jun-22 Press Release | Report | History |
Banks | Debt Instrument | 02-Sep-22 | Initial | AA- | Stable | - | |
| 33 | K-Electric | PPSTS-7 | PKR 5bln | Aug-22 Press Release | Report | History |
Energy | Debt Instrument | 31-Aug-22 | Initial | AA | A1+ | Stable | - |
| 34 | K-Electric | PPSTS-6 | PKR 5bln | Apr-22 Press Release | Report | History |
Energy | Debt Instrument | 31-Aug-22 | Initial | AA | A1+ | Stable | - |
| 35 | Engro PowerGen Thar (Private) Limited | PP Sukuk Press Release | Report | History |
Energy | Debt Instrument | 27-Aug-22 | Upgrade | AA- | - | Stable | - |
| 36 | The Hub Power Company Limited | PP Sukuk Press Release | Report | History |
Energy | Debt Instrument | 26-Aug-22 | Maintain | AA+ | - | Stable | - |
| 37 | China Power Hub Generation Company (Pvt.) Limited | PPSTS | PKR 8bln | Jul-22 Press Release | Report | History |
Energy | Debt Instrument | 22-Aug-22 | Initial | AA+ | A1+ | Stable | - |
| 38 | U Microfinance Bank Limited | TFC Press Release | Report | History |
Banks | Debt Instrument | 18-Aug-22 | Maintain | AA- | - | Stable | - |
| 39 | Ghani Chemical Industries Limited | Sukuk | Feb-17 Press Release | Report | History |
Pharma and Chemicals | Debt Instrument | 11-Aug-22 | Maintain | A | Stable | - | |
| 40 | Jahangir Siddiqui & Co. Ltd. | TFC X | Jul-17 Press Release | Report | History |
Holding Company | Debt Instrument | 05-Aug-22 | Maintain | AA+ | Stable | - | |
| 41 | Jahangir Siddiqui & Co. Ltd. | TFC XI | Mar-18 Press Release | Report | History |
Holding Company | Debt Instrument | 05-Aug-22 | Maintain | AA+ | Stable | - | |
| 42 | BankIslami Pakistan Limited | Modaraba Sukuk | Additional Tier 1 | TBI Press Release | Report | History |
Banks | Debt Instrument | 15-Jul-22 | Preliminary | A- | Positive | - | |
| 43 | TPL Corp Limited | PPTFC | Jun-22 Press Release | Report | History |
Holding Company | Debt Instrument | 14-Jul-22 | Initial | AA- | Stable | - | |
| 44 | TPL Corp Limited | PP Sukuk | Jun-22 Press Release | Report | History |
Holding Company | Debt Instrument | 14-Jul-22 | Initial | AA- | Stable | - | |
| 45 | Bank AL Habib Limited | Tier-I | TFC IX | Apr-22 Press Release | Report | History |
Banks | Debt Instrument | 29-Jun-22 | Initial | AA+ | Stable | - | |
| 46 | Bank AL Habib Limited | Tier II TFC VIII | Sep-21 Press Release | Report | History |
Banks | Debt Instrument | 29-Jun-22 | Maintain | AAA | Stable | - | |
| 47 | Bank AL Habib Limited | Tier-I | TFC VI | Dec-17 Press Release | Report | History |
Banks | Debt Instrument | 29-Jun-22 | Maintain | AA+ | Stable | - | |
| 48 | Bank AL Habib Limited | Tier-II TFC (TFC-VII) Press Release | Report | History |
Banks | Debt Instrument | 29-Jun-22 | Maintain | AAA | Stable | - | |
| 49 | Bank Alfalah Limited | Additional Tier 1 TFC | 7bln Press Release | Report | History |
Banks | Debt Instrument | 29-Jun-22 | Initial | AA- | Stable | - | |
| 50 | Soneri Bank Limited | Tier 1 TFC Press Release | Report | History |
Banks | Debt Instrument | 25-Jun-22 | Maintain | A | Stable | - | |
| 51 | BankIslami Pakistan Limited | Modaraba Sukuk Press Release | Report | History |
Banks | Debt Instrument | 25-Jun-22 | Maintain | A- | Positive | - | |
| 52 | JS Bank Limited | TFC Tier 1 Press Release | Report | History |
Banks | Debt Instrument | 24-Jun-22 | Maintain | A | Stable | - | |
| 53 | Askari Bank Limited | Tier-II TFC (TFC-VII) Press Release | Report | History |
Banks | Debt Instrument | 24-Jun-22 | Maintain | AA | Stable | - | |
| 54 | The Bank of Punjab | TFC I | Dec-16 Press Release | Report | History |
Banks | Debt Instrument | 24-Jun-22 | Maintain | AA | Stable | - | |
| 55 | JS Bank Limited | PPTFC | Dec-21 Press Release | Report | History |
Banks | Debt Instrument | 24-Jun-22 | Maintain | A+ | Stable | - | |
| 56 | The Bank of Punjab | TFC II | April-18 Press Release | Report | History |
Banks | Debt Instrument | 24-Jun-22 | Maintain | AA | Stable | - | |
| 57 | JS Bank Limited | TFC II Press Release | Report | History |
Banks | Debt Instrument | 24-Jun-22 | Maintain | A+ | Stable | - | |
| 58 | Askari Bank Limited | TFC VI ( Additional Tier I ) | Jul-18 Press Release | Report | History |
Banks | Debt Instrument | 24-Jun-22 | Maintain | AA- | Stable | - | |
| 59 | The Bank of Punjab | Tier 2 | TFC-III | TBI Press Release | Report | History |
Banks | Debt Instrument | 21-Jun-22 | Preliminary | AA | Stable | - | |
| 60 | TPL Trakker Limited | Sukuk Press Release | Report | History |
Logistics | Debt Instrument | 07-Jun-22 | Maintain | A+ | - | Stable | - |
| 61 | Hub Power Holdings Limited | Sukuk Press Release | Report | History |
Holding Company | Debt Instrument | 03-Jun-22 | Maintain | AA+ | - | Stable | - |
| 62 | Berger Paints Pakistan Limited | PP Sukuk | Sep -21 Press Release | Report | History |
Pharma and Chemicals | Debt Instrument | 27-May-22 | Initial | A | Stable | - | |
| 63 | Samba Bank Limited | PPTFC Press Release | Report | History |
Banks | Debt Instrument | 20-May-22 | Maintain | AA- | Stable | - | |
| 64 | WAPDA Dasu Sukuk-C Press Release | Report | History |
Energy | Debt Instrument | 20-May-22 | Preliminary | AAA | - | Stable | - |
| 65 | WAPDA Dasu TFC-C Press Release | Report | History |
Energy | Debt Instrument | 20-May-22 | Preliminary | AAA | - | Stable | - |
| 66 | Mughal Iron & Steel Industries Limited | PP Sukuk Press Release | Report | History |
Infrastructure | Debt Instrument | 28-Apr-22 | Maintain | A+ | - | Stable | - |
| 67 | The Hub Power Company Limited | Sukuk Press Release | Report | History |
Energy | Debt Instrument | 15-Apr-22 | Maintain | AA+ | - | Stable | - |
| 68 | Pakistan Mortgage Refinance Company Limited | PP Sukuk Press Release | Report | History |
Development Institutions | Debt Instrument | 15-Apr-22 | Maintain | AAA | - | Stable | - |
| 69 | Pakistan Services Limited | Sukuk | Mar-18 Press Release | Report | History |
Consumers Goods & Services | Debt Instrument | 24-Mar-22 | Maintain | A | - | Developing | Yes |
| 70 | Pak Elektron Limited I PPCP I 1.2bln Press Release | Report | History |
Consumers Goods & Services | Debt Instrument | 16-Mar-22 | Initial | A+ | A1 | Stable | - |
| 71 | OLP Financial Services Pakistan Limited | PPTFC (Formerly ORIX Leasing Pakistan Limited | PPTFC) Press Release | Report | History |
Non Banking Financial Institutes | Debt Instrument | 08-Mar-22 | Initial | AA+ | - | Stable | - |
| 72 | Gas & Oil Pakistan Limited | PP Sukuk Press Release | Report | History |
Energy | Debt Instrument | 04-Mar-22 | Initial | AA- | - | Stable | - |
| 73 | Bank Alfalah Limited | TFCs | Series A Press Release | Report | History |
Banks | Debt Instrument | 16-Feb-22 | Maintain | AAA | - | Stable | - |