Emerging Credit Rating Limited (ECRL) has affirmed AAA (Pronounced as “Triple A”) long term credit rating and ST-1 short term credit rating to IPDC Finance Limited (From here on referred to as ‘IPDC’ or ‘the FI’) based on audited financial statements up to December 31, 2022, half yearly unaudited financial statements (Jan to June) of FY2023 and other available quantitative and qualitative information up to the date of rating. The outlook on the rating is Stable. The ratings are consistent with ECRL’s methodology for this type of financial institutions.