Emerging Credit Rating Limited has assigned BBB+ (Pronounced as “Triple B Plus”) long term credit rating and ST-3 short term credit rating to IPCO Developments (Bangladesh) Limited. The outlook on the rating is Stable. The rating is consistent with ECRL’s rating methodology for this type of company. IDBL is a private limited company with the objective to construct, operate and maintain a four-star international standard hotel together with a large integrated shopping mall, office tower, convention facilities and multi-level parking complex. The rating is based on the audited financial statements of FY2024-FY2025, unaudited financial statements of FY2026, revenue projections of FY2027-FY2029, and other qualitative information up to the rating report date. The rating is valid from September 15, 2026 to September 14, 2027. The ratings may be changed or revised prior to expiry, if warranted by extraordinary circumstances in the management, operations and/or performance of the entity rated.