Emerging Credit Rating Limited (ECRL) has affirmed AA- (Pronounced as ‘Double A Minus Bond’) long term credit rating to United Commercial Bank PLC’s (UCB) Fifth Subordinated Bond issuance of BDT 10,000.00 million in face value based on audited financials up to FY2022 (from FY2019) and other available information up to the date of rating declaration. The outlook on the rating is Stable. The rating is consistent with ECRL’s methodology for this type of Bond rating.