Emerging Credit Rating Limited (ECRL) has affirmed A+ (Pronounced as A plus) long term credit rating and ST-2 short term credit rating to ADN Telecom Limited. ADN Telecom Limited is a telecommunication and IT service provider in Bangladesh. The company received permission for BSEC for IPO and raised BDT 570.00 million in 2019. The proceeds will be used for repaying loans setting up data centers and for BMRE infrastructure developments. Till September 2022 the company was able to utilize 64.72% of the IPO Proceeds. The outlook on the rating is Stable. The rating is based on the audited financial statements of FY2018 to FY2022 and other qualitative and quantitative information available up to date of rating. The rating is consistent for ECRL’s Rating Methodology