Financial Institutions

Brokerage & Securities Firms

Name Date Rating Type Long Term Short Term Outlook Action
Adam Securities Limited 9/21/2021 Entity A- A-2 Stable Reaffirmed
Adam Securities Limited 10/12/2021 BFR BFR3++ Stable Initial
Adam Securities Limited 1/18/2021 BMR BMR2 Stable Reaffirmed
AKD Securities Limited 12/27/2021 BFR BFR2++ Stable Initial
AKD Securities Limited 6/2/2021 BMR BMR1 Stable Upgrade
AKD Securities Limited 11/22/2021 Entity A+ A-1 Rating Watch - Positive Maintained
AKIK Capital (Pvt) Ltd 9/29/2021 BMR BMR3 Stable Initial
Alfa Adhi Securities (Pvt) Ltd 12/13/2021 BMR BMR3+ Stable Initial
Arif Habib Limited 7/27/2021 Entity AA- A-1 Stable Reaffirmed
BIPL Securities Limited 8/27/2021 Entity A- A-2 Rating Watch - Developing Maintained
BIPL Securities Limited 3/2/2021 BMR BMR2+ Stable Reaffirmed
BMA Capital Management Limited 5/21/2021 BMR BMR2+ Stable Reaffirmed
BMA Capital Management Limited 10/15/2021 Entity A- A-2 Stable Reaffirmed
Darson Securities Limited 12/1/2021 Entity BBB+ A-2 Stable Initial
Darson Securities Limited 12/29/2020 BMR BMR2 Stable Initial
DJM Securities Limited 9/24/2021 BMR BMR3+ Stable Initial
DJM Securities Limited 9/24/2021 BFR BFR3 Stable Initial
Fawad Yusuf Securities (Pvt) Ltd 2/26/2021 Entity A- A-2 Stable Initial
FDM Capital Securities (Pvt) Ltd 8/5/2021 BFR BFR3 Stable Initial
FDM Capital Securities (Pvt) Ltd 11/29/2021 BMR BMR3++ Stable Initial
Fortune Securities Limited 10/12/2021 BMR BMR2 Stable Initial
Fortune Securities Limited 9/30/2021 BFR BFR3 Stable Initial
Foundation Securities (Pvt) Limited 1/24/2022 Entity A- A-2 Rating Watch - Developing Maintained
Foundation Securities (Pvt) Limited 6/15/2021 BMR BMR2 Stable Reaffirmed
Growth Securities (Pvt) Limited 5/21/2021 Entity A- A-2 Stable Reaffirmed
Insight Securities (Pvt) Ltd 9/28/2021 BMR BMR2 Stable Initial
Integrated Equities Limited 1/11/2021 BMR BMR2 Stable Upgrade
Intermarket Securities Limited 4/7/2021 BMR BMR2+ Stable Upgrade
Intermarket Securities Limited 11/17/2021 Entity A- A-2 Positive Maintained
KTRADE Securities Limited 7/16/2021 BMR BMR2 Stable Initial
MRA Securities Limited 4/12/2021 BMR BMR2+ Stable Upgrade
MRA Securities Limited 10/18/2021 Entity A- A-2 Stable Reaffirmed
MRA Securities Limited 10/18/2021 BFR BFR3+ Stable Initial
Muhammad Munir Muhammad Ahmed Khanani Securities Limited 11/19/2021 BFR BFR2 Stable Initial
Muhammad Munir Muhammad Ahmed Khanani Securities Limited 8/17/2021 Entity A- A-2 Stable Reaffirmed
Muhammad Munir Muhammad Ahmed Khanani Securities Limited 4/7/2021 BMR BMR2 Stable Reaffirmed
Multiline Securities Limited 3/30/2021 BMR BMR3+ Stable Initial
Multiline Securities Limited 2/12/2021 Entity A- A-2 Stable Initial
Next Capital Limited 3/10/2021 Entity A- A-2 Stable Reaffirmed
Next Capital Limited 12/22/2021 CP A-2 Stable Final
Next Capital Limited 3/24/2021 BMR BMR2++ Stable Reaffirmed
Pearl Securities Limited 4/5/2021 BMR BMR2 Stable Reaffirmed
Shirazi Investments (Pvt) Limited 1/11/2022 Entity AA A-1 Stable Initial
Standard Capital Securities (Private) Limited 12/3/2021 BMR BMR2 Stable Initial
Taurus Securities Limited 9/15/2021 BFR BFR3 Stable Initial
Taurus Securities Limited 1/18/2021 Entity A A-2 Stable Reaffirmed
Taurus Securities Limited 9/15/2021 BMR BMR2+ Stable Initial
Topline Securities Limited 9/27/2021 BFR BFR2 Stable Initial
Topline Securities Limited 6/24/2021 BMR BMR2+ Stable Reaffirmed
Topline Securities Limited 3/19/2021 Entity A A-2 Stable Upgrade