ECRL has downgraded the long-term credit rating to B+ and the short-term credit rating to ST-5 with a Developing outlook for Padma Bank PLC.

By ecrl-admin | Rationale | 0 comment | 30 December, 2023 | 0

Emerging Credit Rating Limited (ECRL) has downgraded the long-term credit rating to B+ (pronounced ‘Single B Plus’) and the short-term credit rating to ST-5 for Padma Bank PLC. The rating is based on audited financials for FY2020-FY2023, unaudited financial statements up to June 30, 2024, and other relevant information available up to the date of the rating. The outlook on the rating is Developing.