Emerging Credit Rating Limited has affirmed A- (pronounced as A minus) long term credit rating and ST-3 short term credit rating to Thermax Yarn Dyed Fabrics Limited. The outlook on the rating is Stable. The ratings are consistent with ECRL’s rating methodology for this type of company. TYDFL is actively engaged in manufacturing dyed fabrics used in the export oriented readymade garment industries. The rating is based on the audited financial statements from FY2022 to 2025 and other relevant qualitative information up to the date of rating. The rating is valid from August 26, 2026 to August 25, 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.