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Emerging Credit Rating Limited (ECRL) has downgraded the long-term credit rating to BBB (pronounced as ‘Triple B’) and the short-term credit rating to ST-4 to Islamic Finance and Investment PLC. The outlook on the rating is Developing. The ratings are based on the audited financial statements up to December 31, 2024, unaudited quarterly financial statementsRead more

Emerging Credit Rating Limited (ECRL) has assigned ESME-3 credit rating to M/S Insaf Electronics. The outlook of the rating is Stable. The rating is consistent with ECRL’s methodology for this type of business. The rating is based on the information received from the respective bank and concern, along with other relevant quantitative and qualitative informationRead more

Emerging Credit Rating Limited (ECRL) has assigned AAA (pronounced as “Triple A”) long-term credit rating and ST-1 short-term credit rating to City Sugar Industries Limited. The outlook on the rating is Stable. The ratings are consistent with ECRL’s methodology for this type of company. City Sugar Industries Limited, a concern of City Group, is engagedRead more

Emerging Credit Rating Limited (ECRL) has affirmed ST-2 short-term credit rating to APS Logistics International Ltd. Although the entity does not have a long-term investment facility, ECRL has upgraded an equivalent long-term credit rating to A (pronounced as Single A). The outlook on the rating is Stable. The ratings are consistent with ECRL’s methodology forRead more

Emerging Credit Rating Limited (ECRL) has affirmed A- (pronounced as Single A Minus) long-term credit rating and ST-2 short-term credit rating to M. N. Dyeing, Printing & Washing Mills Limited. The outlook on the rating is Stable. The ratings are consistent with ECRL’s methodology for this type of business. M. N. Dyeing, Printing & WashingRead more

Emerging Credit Rating Limited (ECRL) has affirmed AA- (Pronounced as ‘Double A Minus’) long term credit rating along with a Stable outlook to Bank Asia 1st Perpetual Bond with validity till June 12, 2026. The rating is based on audited financial statements up to December 31, 2024 and other relevant quantitative as well as qualitativeRead more

Emerging Credit Rating Limited (ECRL) has downgraded the long-term credit rating to BB+ (Pronounced as ‘double B Plus’) and the short-term credit rating to ST-4 to First Security Islami Bank PLC. along with a Stable outlook with validity till May 14, 2026. The assigned rating is based on audited financial statements up to December 31,Read more

Emerging Credit Rating Limited (ECRL) has downgraded the long-term credit rating to A+ (Pronounced as ‘A plus’) and the short-term credit rating to ST-3 to NRBC Bank PLC. along with a Stable outlook with validity till June 21, 2026. The rating is based on audited financial statements up to December 31, 2024 and other relevantRead more

Emerging Credit Rating Limited (ECRL) has assigned BBB+ (Pronounced as “Triple B Plus”) long term credit rating and ST-3 short term credit rating along with a Stable outlook to Social Islami Bank PLC. with validity till May 15, 2026. The rating is based on audited financial statements up to December 31, 2024 and other relevantRead more

ECRL has downgraded the existing rating to AA-B (Pronounced as “Double A Minus Bond”) for Mercantile Bank 3rd Subordinated Bond. The outlook of the rating is Stable. This decision is based on new information ECRL received on recently regarding the long-term credit rating of the issuer, Mercantile Bank PLC., which was downgraded to AA.Read more