CORPORATE RATING SYMBOL
| LONG – TERM RATINGS | |
| ECRL’s Long-Term Ratings are assigned to debt with maturities of more than one year. These debt ratings specifically assess the likelihood of timely repayment of principal and payment of interest over the term to maturity of such debts. | |
| RATING | DEFINITION (Credit Rating Companies Rules, 2022. 10.(15)) |
| AAA | Strongest credit quality |
| AA+ | Below strongest credit quality |
| AA | Very strong credit quality |
| AA- | Below very strong credit quality |
| A+ | Very good credit quality |
| A | Above average credit quality |
| A- | Moderately good credit quality |
| BBB+ | Moderate credit quality |
| BBB | Average credit quality |
| BBB- | Below average credit quality |
| BB+ | Moderately below average credit quality |
| BB | Slightly below average credit quality |
| BB- | Less than average credit quality |
| B+ | Significantly below average credit quality |
| B | Weak credit quality |
| B- | Very weak credit quality |
| C | Poor credit quality |
| D | Default (Failed to meet their rated financial commitment on time or when due) |
Notes: Long-Term Ratings from AA to B may be modified by the addition of a plus (+) or minus (-) suffix to show relative standing within the major rating categories. Bank-guaranteed issues will carry a suffix (bg), corporate-guaranteed issues, a (cg), issues guaranteed by a financial guarantee insurer (FGI), an (fg), and all other supports, an (s) when such guarantees or supports give favorable effect to the assigned rating.
| SHORT – TERM RATINGS | |
| ECRL’s Short-Term (ST) Ratings are assigned to specific debt instruments with original maturities of one year or less, and are intended to assess the likelihood of timely repayment of principal and payment of interest. | |
| RATING | DEFINITION (Credit Rating Companies Rules, 2022. 10.(15)) |
| ST – 1 | Strongest ability to meet short term financial commitments |
| ST – 2 | Above average ability to meet short term financial commitments |
| ST – 3 | Average ability to meet short term financial commitments |
| ST – 4 | Below average ability to meet short term financial commitments |
| ST – 5 | Well below average ability |
| ST – 6 | Default (Failed to meet their short term financial commitments) |
Notes: Short-Term (ST) Ratings will also carry a suffix (bg) for bank-guaranteed issues, (cg) for corporate-guaranteed issues, (fg) for FGI-guaranteed issues, and (s) for all other supports when such guarantees or supports give favorable effect to the assigned rating.
| RATING OUTLOOK | |
| ECRL’s Rating Outlook assesses the potential direction of the Corporate Debt Rating over the intermediate term (typically over a one to two-year period). The Rating Outlook may either be : | |
| POSITIVE | Which indicates that a rating may be raised; |
| NEGATIVE | Which indicates that a rating may be lowered; |
| STABLE | Which indicates that a rating is likely to remain unchanged; or |
| DEVELOPING | Which indicates that a rating may be raised, lowered or remain unchanged. |
As per Bangladesh Securities and Exchange Commission (Credit Rating Companies) Rules, 2022. 10(8)A(g), the following disclosure is provided
SME RATING SYMBOL
| RATING | DEFINITION (Credit Rating Companies Rules, 2022. 10.(15)) |
| ESME1 | Strongest credit quality |
| ESME2 | Very strong credit quality |
| ESME3 | Above average credit quality |
| ESME4 | Average credit quality |
| ESME5 | Slightly below average credit quality |
| ESME6 | Weak credit quality |
| ESME7 | Poor credit quality |
| ESME8 | Default (Failed to meet their rated financial commitment on time or when due) |
| RATING OUTLOOK | |
| ECRL’s Rating Outlook assesses the potential direction of the SME Rating over the intermediate term (typically over a one to two-year period). The Rating Outlook may either be : | |
| POSITIVE | Which indicates that a rating may be raised; |
| NEGATIVE | Which indicates that a rating may be lowered; |
| STABLE | Which indicates that a rating is likely to remain unchanged; or |
| DEVELOPING | Which indicates that a rating may be raised, lowered or remain unchanged. |