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Credit Rating Company Limited
 
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Textiles
Name
Date
Rating Type
Long Term
Short Term
Outlook
Action
AA Spinning Mills Limited
12/27/2023
Entity
A-
Good credit quality; Protection factors are adequate. Risk factors may vary with possible changes in the economy.
A-2
Stable
Reaffirmed
Press Release
|
History
|
Rating Report
AGI Denim
9/21/2023
Entity
A
Good credit quality; Protection factors are adequate. Risk factors may vary with possible changes in the economy.
A-2
Stable
Reaffirmed
Press Release
|
History
|
Rating Report
Ahmed Oriental Textile Mills Limited
1/15/2024
Entity
A-
Good credit quality; Protection factors are adequate. Risk factors may vary with possible changes in the economy.
A-2
Negative
Reaffirmed
Press Release
|
History
|
Rating Report
Akhtar Textile Industries (Pvt) Ltd
4/14/2023
Entity
A
Good credit quality; Protection factors are adequate. Risk factors may vary with possible changes in the economy.
A-2
Stable
Reaffirmed
Press Release
|
History
|
Rating Report
Akram Cotton Mills Limited
2/27/2024
Entity
BBB
Adequate credit quality; Protection factors are reasonable and sufficient. Risk factors are considered variable if changes occur in the economy.
A-2
Stable
Initial
Press Release
|
History
|
Rating Report
Al Karam Towel Industries (Pvt) Ltd
8/1/2023
Entity
A-
Good credit quality; Protection factors are adequate. Risk factors may vary with possible changes in the economy.
A-2
Stable
Reaffirmed
Press Release
|
History
|
Rating Report
Al-Karam Textile Mills (Pvt) Limited
5/30/2023
Entity
A
Good credit quality; Protection factors are adequate. Risk factors may vary with possible changes in the economy.
A-2
Negative
Reaffirmed
Press Release
|
History
|
Rating Report
Amna Industries (Pvt) Limited
3/1/2023
Entity
BBB+
Adequate credit quality; Protection factors are reasonable and sufficient. Risk factors are considered variable if changes occur in the economy.
A-2
Stable
Initial
Press Release
|
History
|
Rating Report
Arshad Corporation (Pvt) Ltd
3/6/2024
Entity
A-
Good credit quality; Protection factors are adequate. Risk factors may vary with possible changes in the economy.
A-2
Stable
Reaffirmed
Press Release
|
History
|
Rating Report
Arshad Textile Mills Limited
3/6/2024
Entity
BBB-
Adequate credit quality; Protection factors are reasonable and sufficient. Risk factors are considered variable if changes occur in the economy.
A-2
Stable
Reaffirmed
Press Release
|
History
|
Rating Report
Artistic Apparels (Pvt) Ltd
3/21/2023
Entity
Suspended
Press Release
|
History
|
Rating Report
Artistic Denim Mills Ltd
1/9/2023
Entity
A-
Good credit quality; Protection factors are adequate. Risk factors may vary with possible changes in the economy.
A-2
Stable
Reaffirmed
Press Release
|
History
|
Rating Report
Artistic Milliners (Pvt) Limited
12/13/2022
Entity
AA-
High credit quality; Protection factors are strong. Risk is modest but may vary slightly from time to time because of economic conditions.
A-1
Stable
Reaffirmed
Press Release
|
History
|
Rating Report
Asher Imran Spinning Mills (Pvt) Limited
11/20/2023
Entity
A-
Good credit quality; Protection factors are adequate. Risk factors may vary with possible changes in the economy.
A-2
Stable
Reaffirmed
Press Release
|
History
|
Rating Report
Best Fibres (Pvt) Ltd
4/27/2023
Entity
A-
Good credit quality; Protection factors are adequate. Risk factors may vary with possible changes in the economy.
A-2
Stable
Reaffirmed
Press Release
|
History
|
Rating Report
Bhanero Textile Mills Ltd
9/26/2023
Entity
A+
Good credit quality; Protection factors are adequate. Risk factors may vary with possible changes in the economy.
A-1
Stable
Reaffirmed
Press Release
|
History
|
Rating Report
Bhimra Textile Mills (Pvt) Limited
12/15/2023
Entity
BBB
Adequate credit quality; Protection factors are reasonable and sufficient. Risk factors are considered variable if changes occur in the economy.
A-2
Stable
Maintained
Press Release
|
History
|
Rating Report
Bismillah Textiles Limited
8/22/2023
Entity
BBB+
Adequate credit quality; Protection factors are reasonable and sufficient. Risk factors are considered variable if changes occur in the economy.
A-2
Stable
Reaffirmed
Press Release
|
History
|
Rating Report
Blessed Textiles Ltd
9/26/2023
Entity
A
Good credit quality; Protection factors are adequate. Risk factors may vary with possible changes in the economy.
A-1
Stable
Reaffirmed
Press Release
|
History
|
Rating Report
Chakwal Textile Mills Limited
10/23/2023
Entity
Suspended
Press Release
|
History
|
Rating Report
Chiniot Textile Mills Limited
7/12/2023
Entity
BBB
Adequate credit quality; Protection factors are reasonable and sufficient. Risk factors are considered variable if changes occur in the economy.
A-2
Stable
Reaffirmed
Press Release
|
History
|
Rating Report
Comfort Knitwears (Pvt) Ltd
7/12/2023
Entity
A-
Good credit quality; Protection factors are adequate. Risk factors may vary with possible changes in the economy.
A-2
Stable
Reaffirmed
Press Release
|
History
|
Rating Report
Cotton Web Limited
1/1/2024
Entity
A-
Good credit quality; Protection factors are adequate. Risk factors may vary with possible changes in the economy.
A-2
Positive
Maintained
Press Release
|
History
|
Rating Report
Crescent Bahuman Limited
5/9/2023
Entity
A-
Good credit quality; Protection factors are adequate. Risk factors may vary with possible changes in the economy.
A-2
Stable
Reaffirmed
Press Release
|
History
|
Rating Report
Dynamic Sportswear (Pvt) Limited
5/25/2023
Entity
A-
Good credit quality; Protection factors are adequate. Risk factors may vary with possible changes in the economy.
A-2
Stable
Reaffirmed
Press Release
|
History
|
Rating Report
Eastern Spinning Mills Limited
1/12/2023
Entity
Suspended
Press Release
|
History
|
Rating Report
Ejaz Spinning Mills Limited
8/31/2023
Entity
Suspended
Press Release
|
History
|
Rating Report
Faisal Spinning Mills Ltd
9/26/2023
Entity
A
Good credit quality; Protection factors are adequate. Risk factors may vary with possible changes in the economy.
A-1
Stable
Reaffirmed
Press Release
|
History
|
Rating Report
Feroze 1888 Mills Limited
2/27/2024
Entity
AA-
High credit quality; Protection factors are strong. Risk is modest but may vary slightly from time to time because of economic conditions.
A-1
Stable
Reaffirmed
Press Release
|
History
|
Rating Report
Gadoon Textile Mills Limited
10/31/2023
Entity
A+
Good credit quality; Protection factors are adequate. Risk factors may vary with possible changes in the economy.
A-1
Stable
Reaffirmed
Press Release
|
History
|
Rating Report
Gatron (Industries) Limited
2/15/2023
Entity
A-
Good credit quality; Protection factors are adequate. Risk factors may vary with possible changes in the economy.
A-2
Stable
Initial
Press Release
|
History
|
Rating Report
Gohar Textile Mills (Pvt) Ltd
3/11/2024
Entity
A+
Good credit quality; Protection factors are adequate. Risk factors may vary with possible changes in the economy.
A-1
Stable
Upgrade
Press Release
|
History
|
Rating Report
H.A Fibres (Pvt) Limited
10/2/2023
Entity
A-
Good credit quality; Protection factors are adequate. Risk factors may vary with possible changes in the economy.
A-2
Stable
Maintained
Press Release
|
History
|
Rating Report
Indigo Textile (Pvt) Limited
5/24/2023
Entity
A
Good credit quality; Protection factors are adequate. Risk factors may vary with possible changes in the economy.
A-1
Stable
Reaffirmed
Press Release
|
History
|
Rating Report
Indus Dyeing & Manufacturing Co Limited
9/28/2023
Entity
A+
Good credit quality; Protection factors are adequate. Risk factors may vary with possible changes in the economy.
A-1
Stable
Reaffirmed
Press Release
|
History
|
Rating Report
Indus Home Limited
7/24/2023
Entity
A-
Good credit quality; Protection factors are adequate. Risk factors may vary with possible changes in the economy.
A-2
Stable
Reaffirmed
Press Release
|
History
|
Rating Report
Indus Lyallpur Limited
9/28/2023
Entity
A-
Good credit quality; Protection factors are adequate. Risk factors may vary with possible changes in the economy.
A-2
Stable
Reaffirmed
Press Release
|
History
|
Rating Report
Interloop Limited
5/10/2023
Entity
A+
Good credit quality; Protection factors are adequate. Risk factors may vary with possible changes in the economy.
A-1
Stable
Reaffirmed
Press Release
|
History
|
Rating Report
International Textile Limited
4/18/2023
Entity
A
Good credit quality; Protection factors are adequate. Risk factors may vary with possible changes in the economy.
A-2
Stable
Upgrade
Press Release
|
History
|
Rating Report
J.K Spinning Mills Limited
5/22/2023
Entity
A-
Good credit quality; Protection factors are adequate. Risk factors may vary with possible changes in the economy.
A-1
Stable
Maintained
Press Release
|
History
|
Rating Report
Kamal Limited
4/7/2023
Entity
A
Good credit quality; Protection factors are adequate. Risk factors may vary with possible changes in the economy.
A-1
Stable
Reaffirmed
Press Release
|
History
|
Rating Report
Kamal Textile Mills (Pvt) Ltd
6/20/2023
Entity
A-
Good credit quality; Protection factors are adequate. Risk factors may vary with possible changes in the economy.
A-2
Stable
Reaffirmed
Press Release
|
History
|
Rating Report
Khalid Shafique Spinning Mills Limited
6/20/2023
Entity
BBB+
Adequate credit quality; Protection factors are reasonable and sufficient. Risk factors are considered variable if changes occur in the economy.
A-2
Negative
Maintained
Press Release
|
History
|
Rating Report
Kohinoor Mills Limited
8/30/2023
Entity
BBB+
Adequate credit quality; Protection factors are reasonable and sufficient. Risk factors are considered variable if changes occur in the economy.
A-2
Positive
Maintained
Press Release
|
History
|
Rating Report
Kohinoor Textile Mills Limited
10/5/2023
Entity
A+
Good credit quality; Protection factors are adequate. Risk factors may vary with possible changes in the economy.
A-1
Stable
Reaffirmed
Press Release
|
History
|
Rating Report
Lucky Knits (Pvt) Limited
11/17/2023
Entity
A-
Good credit quality; Protection factors are adequate. Risk factors may vary with possible changes in the economy.
A-1
Stable
Reaffirmed
Press Release
|
History
|
Rating Report
Lucky Textile Mills Limited
11/20/2023
Entity
AA-
High credit quality; Protection factors are strong. Risk is modest but may vary slightly from time to time because of economic conditions.
A-1
Stable
Reaffirmed
Press Release
|
History
|
Rating Report
M.K Sons (Pvt) Ltd
5/29/2023
Entity
A-
Good credit quality; Protection factors are adequate. Risk factors may vary with possible changes in the economy.
A-2
Stable
Reaffirmed
Press Release
|
History
|
Rating Report
Magna Processing Industries (Pvt) Limited
3/15/2024
Entity
Suspended
Press Release
|
History
|
Rating Report
Magna Textile Industries (Pvt) Limited
3/15/2024
Entity
Suspended
Press Release
|
History
|
Rating Report
Masood Textile Mills Limited
2/27/2024
Sukuk 1
A
Good credit quality; Protection factors are adequate. Risk factors may vary with possible changes in the economy.
Stable
Reaffirmed
Press Release
|
History
|
Rating Report
|
Issue Detail
Masood Textile Mills Limited
2/27/2024
Entity
A
Good credit quality; Protection factors are adequate. Risk factors may vary with possible changes in the economy.
A-2
Stable
Upgrade
Press Release
|
History
|
Rating Report
Master Textile Mills Limited
11/4/2022
Review Initiated
Entity
A
Good credit quality; Protection factors are adequate. Risk factors may vary with possible changes in the economy.
A-1
Stable
Reaffirmed
Press Release
|
History
|
Rating Report
Metco Textile (Pvt) Limited
10/6/2023
Entity
A-
Good credit quality; Protection factors are adequate. Risk factors may vary with possible changes in the economy.
A-2
Negative
Maintained
Press Release
|
History
|
Rating Report
Mustaqim Dyeing and Printing Ind. (Pvt) limited
3/1/2023
Entity
A-
Good credit quality; Protection factors are adequate. Risk factors may vary with possible changes in the economy.
A-2
Stable
Reaffirmed
Press Release
|
History
|
Rating Report
Nadeem Textile Mills Limited
1/30/2024
Entity
A-
Good credit quality; Protection factors are adequate. Risk factors may vary with possible changes in the economy.
A-2
Stable
Reaffirmed
Press Release
|
History
|
Rating Report
Naveena Exports Limited
4/12/2023
Entity
A
Good credit quality; Protection factors are adequate. Risk factors may vary with possible changes in the economy.
A-1
Stable
Maintained
Press Release
|
History
|
Rating Report
Naveena Industries Limited
1/15/2024
Entity
A-
Good credit quality; Protection factors are adequate. Risk factors may vary with possible changes in the economy.
A-2
Stable
Maintained
Press Release
|
History
|
Rating Report
Nishat (Chunian) Limited
6/8/2023
Entity
A-
Good credit quality; Protection factors are adequate. Risk factors may vary with possible changes in the economy.
A-2
Stable
Downgrade
Press Release
|
History
|
Rating Report
Pak kuwait Textiles Limited
3/15/2024
Entity
A-
Good credit quality; Protection factors are adequate. Risk factors may vary with possible changes in the economy.
A-1
Stable
Reaffirmed
Press Release
|
History
|
Rating Report
Premium Textile Mills Limited
8/18/2023
Entity
A-
Good credit quality; Protection factors are adequate. Risk factors may vary with possible changes in the economy.
A-2
Stable
Reaffirmed
Press Release
|
History
|
Rating Report
Qadri Textile Mills Limited
1/13/2023
Entity
Suspended
Press Release
|
History
|
Rating Report
Quality Textile Mills Ltd
1/8/2024
Entity
Suspended
Press Release
|
History
|
Rating Report
Rajby Industries
6/22/2023
Entity
A-
Good credit quality; Protection factors are adequate. Risk factors may vary with possible changes in the economy.
A-2
Stable
Reaffirmed
Press Release
|
History
|
Rating Report
Rajby Textiles (Pvt) Limited
7/14/2023
Entity
A-
Good credit quality; Protection factors are adequate. Risk factors may vary with possible changes in the economy.
A-2
Stable
Reaffirmed
Press Release
|
History
|
Rating Report
Rizwan Enterprises
5/29/2023
Entity
A-
Good credit quality; Protection factors are adequate. Risk factors may vary with possible changes in the economy.
A-1
Stable
Reaffirmed
Press Release
|
History
|
Rating Report
Sadaqat Limited
10/10/2023
TFC
A
Good credit quality; Protection factors are adequate. Risk factors may vary with possible changes in the economy.
Stable
Reaffirmed
Press Release
|
History
|
Rating Report
Sadaqat Limited
10/10/2023
Entity
A
Good credit quality; Protection factors are adequate. Risk factors may vary with possible changes in the economy.
A-2
Stable
Reaffirmed
Press Release
|
History
|
Rating Report
Sapphire Textile Mills Limited
9/13/2023
Entity
A+
Good credit quality; Protection factors are adequate. Risk factors may vary with possible changes in the economy.
A-1
Stable
Reaffirmed
Press Release
|
History
|
Rating Report
Saya Weaving Mills (Pvt) Limited
2/22/2023
Entity
A-
Good credit quality; Protection factors are adequate. Risk factors may vary with possible changes in the economy.
A-2
Stable
Reaffirmed
Press Release
|
History
|
Rating Report
Shadab Textile Mills Limited
1/8/2024
Entity
A-
Good credit quality; Protection factors are adequate. Risk factors may vary with possible changes in the economy.
A-2
Negative
Reaffirmed
Press Release
|
History
|
Rating Report
Shahbaz Garments (Pvt) Limited
9/6/2022
Review Initiated
Entity
A-
Good credit quality; Protection factors are adequate. Risk factors may vary with possible changes in the economy.
A-2
Stable
Reaffirmed
Press Release
|
History
|
Rating Report
Shahtaj Textile Limited
11/24/2023
Entity
A-
Good credit quality; Protection factors are adequate. Risk factors may vary with possible changes in the economy.
A-2
Stable
Reaffirmed
Press Release
|
History
|
Rating Report
Sheikhupura Textile Mills Limited
7/12/2023
Entity
BBB
Adequate credit quality; Protection factors are reasonable and sufficient. Risk factors are considered variable if changes occur in the economy.
A-2
Stable
Reaffirmed
Press Release
|
History
|
Rating Report
Siara Textile Mills (Pvt) Limited
2/27/2024
Entity
BBB
Adequate credit quality; Protection factors are reasonable and sufficient. Risk factors are considered variable if changes occur in the economy.
A-2
Stable
Reaffirmed
Press Release
|
History
|
Rating Report
Sitara Textile Industries Ltd
2/1/2024
Entity
BBB+
Adequate credit quality; Protection factors are reasonable and sufficient. Risk factors are considered variable if changes occur in the economy.
A-2
Negative
Maintained
Press Release
|
History
|
Rating Report
Sohail Textile Mills Limited
12/4/2023
Entity
BBB-
Adequate credit quality; Protection factors are reasonable and sufficient. Risk factors are considered variable if changes occur in the economy.
A-2
Stable
Reaffirmed
Press Release
|
History
|
Rating Report
Soorty Enterprises (Pvt) Limited
7/7/2023
Entity
AA-
High credit quality; Protection factors are strong. Risk is modest but may vary slightly from time to time because of economic conditions.
A-1
Stable
Reaffirmed
Press Release
|
History
|
Rating Report
Sunrays Textile Mills Limited
9/28/2023
Entity
A-
Good credit quality; Protection factors are adequate. Risk factors may vary with possible changes in the economy.
A-1
Stable
Reaffirmed
Press Release
|
History
|
Rating Report
Suraj Cotton Mills Limited
2/9/2024
Entity
A+
Good credit quality; Protection factors are adequate. Risk factors may vary with possible changes in the economy.
A-1
Stable
Reaffirmed
Press Release
|
History
|
Rating Report
The Crescent Textile Mills Limited
3/27/2024
Entity
A-
Good credit quality; Protection factors are adequate. Risk factors may vary with possible changes in the economy.
A-2
Negative
Maintained
Press Release
|
History
|
Rating Report
Towellers Limited
2/7/2024
Entity
A
Good credit quality; Protection factors are adequate. Risk factors may vary with possible changes in the economy.
A-1
Positive
Maintained
Press Release
|
History
|
Rating Report
Umar Spinning Mills (Pvt) Limited
2/13/2024
Entity
BBB+
Adequate credit quality; Protection factors are reasonable and sufficient. Risk factors are considered variable if changes occur in the economy.
A-2
Stable
Reaffirmed
Press Release
|
History
|
Rating Report
Union Apparel (Pvt) Ltd
3/4/2024
Entity
A-
Good credit quality; Protection factors are adequate. Risk factors may vary with possible changes in the economy.
A-2
Stable
Reaffirmed
Press Release
|
History
|
Rating Report
Union Fabrics (Pvt) Ltd
2/29/2024
Entity
A-
Good credit quality; Protection factors are adequate. Risk factors may vary with possible changes in the economy.
A-2
Stable
Reaffirmed
Press Release
|
History
|
Rating Report
Utopia Industries (Pvt) Limited
6/5/2023
Entity
A-
Good credit quality; Protection factors are adequate. Risk factors may vary with possible changes in the economy.
A-2
Stable
Initial
Press Release
|
History
|
Rating Report
Z.A Corporation (Pvt) Ltd
4/3/2023
Entity
BBB+
Adequate credit quality; Protection factors are reasonable and sufficient. Risk factors are considered variable if changes occur in the economy.
A-2
Stable
Reaffirmed
Press Release
|
History
|
Rating Report
Zahra Textile
1/4/2023
Entity
Suspended
Press Release
|
History
|
Rating Report
Zaman Textile Mills (Pvt) Limited
3/14/2024
Entity
A-
Good credit quality; Protection factors are adequate. Risk factors may vary with possible changes in the economy.
A-2
Stable
Reaffirmed
Press Release
|
History
|
Rating Report
Zephyr Textiles Limited
11/17/2023
Entity
BBB+
Adequate credit quality; Protection factors are reasonable and sufficient. Risk factors are considered variable if changes occur in the economy.
A-2
Positive
Reaffirmed
Press Release
|
History
|
Rating Report
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