Emerging Credit Rating Limited (hereinafter referred as ‘ECRL’) has upgraded long term credit rating to A+ (pronounced as single A plus) and affirmed ST-2 short term credit rating to Sparrow Apparels Limited. The outlook on the rating is Stable. The rating is based on the audited financial statements of Sparrow Apparels Limited from 2019-2022 and other relevant qualitative information up to the date of rating.