Emerging Credit Rating Limited (ECRL) has affirmed ST-2 as short term credit rating to Quality Breeders Ltd (hereinafter referred to as ‘QBL’ or ‘the company’). ECRL has upgraded an equivalent long term entity rating of AA- (Pronounced as Double A minus). The outlook of the rating is Stable.The rating is based on audited financial statement from FY 2020-2023, bank information, and other qualitative and quantitative information up to the date of rating.