Emerging Credit Rating Limited (ECRL) has downgraded ESME-5 credit rating to “Mofiz Store”. The outlook of the rating is Stable. The rating is consistent with ECRL’s methodology for this type of concern. ECRL considered financial strength, scale of business, proprietor’s experience and prospect of the industry while assigning the rating. The rating is based on the information received from the bank and the client, along with other relevant quantitative and qualitative information available till the date of rating. The rating was not under surveillance during October 02, 2025 to August 24, 2026. The rating is valid from August 25, 2026 to August 24, 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.