AAA

AA2 BBB1

A3 BB2

CCC1
 TABLE OF CONTENT

Page #

List of Corporate and SME 01-67

List of Banks and Financial Institutions 68-68

List of Insurances 69-69

List of Micro Finance Institutions (MFIs) 69-69

Appendices: CRAB Rating Scales and Definitions

Appendix 01: Long Term Credit Rating: Corporate (Entity) 70-70

Appendix 02: Long Term Credit Rating: Corporate (Long Term Loan) 71-71
Appendix 03: Short Term Credit Rating: Corporate (Short Term Loan) 72-72
Appendix 04: Long Term Credit Rating: Bank 73-73
Appendix 05: Short Term Credit Rating: Bank 74-74
Appendix 06: Long Term Credit Rating: Financial Institutions 75-75
Appendix 07: Short Term Credit Rating: Financial Institutions 76-76
Appendix 08: Long Term Credit Rating: Insurance 77-77
Appendix 09: Short Term Credit Rating: Insurance 78-78
Appendix 10: Long Term Credit Rating: Debt Instruments 79-79
Appendix 11: Long Term Credit Rating: Project Finance 80-80
Appendix 18: CRAB Rating Scales and Definitions –SME 81-81

(i)
 Rating Update - March 2024
(Update up to 31 March 2024)

Sl No. Name of Client/Company Company/ Rating Type Entity Loan Ratings Rating
(Alphabetical order) Rating Long Term Short Term* Outlook Validity**
Firm Type

Corporate and SME

1 3 S Pastry Shop SME Initial Rating CRAB-SE 3 - - - 20-Jun-24

2 3S & Rafi Construction SME Initial Rating CRAB-SE 3 - - - 30-Dec-24

3 A & A Shoes Ltd. Corporate Surveillance BBB3 BBB3(Lr) ST-3 Stable 28-Nov-24

4 A B Stone Crushing Industries SME Surveillance CRAB-SE 3 - - - 30-Jul-24

5 A D Sons Marine Tech SME Surveillance CRAB-SE 3 - - - 29-Mar-25

6 A G Store SME Initial Rating CRAB-SE 3 - - - 25-Jul-24

7 A H Enterprise Corporate Surveillance BBB3 BBB3(Lr) ST-4 Stable 30-Dec-24

8 A H Enterprise & Its sister concern Corporate Initial Rating BBB3 BBB3(Lr) ST-3 Stable 15-Aug-24

9 A H Khan & Co. Ltd. Corporate Surveillance A3 A3(Lr) ST-3 Stable 26-Dec-24

10 A H Trading Corporation SME Surveillance CRAB-SE 3 - - - 04-Dec-24

11 A Islam Enterprise SME Initial CRAB-SE 3 - - - 23-Jan-25

12 A J C Poultry & Agrovet SME Initial Rating CRAB-ME 3 - - - 22-Aug-24

13 A K Engineering SME Surveillance CRAB-SE 3 - - - 18-Aug-24

14 A K Trade International SME Initial Rating CRAB-SE 3 - - - 01-Aug-24

15 A K Traders SME Initial Rating CRAB-SE 3 - - - 19-Sep-24

16 A M Office System & Furniture SME Surveillance CRAB-SE 3 - - - 24-Oct-24

17 A N Yarn Trading SME Initial Rating CRAB-SE 3 - - - 19-Sep-24

18 A One Tarde International SME Surveillance CRAB-SE 3 - - - 21-Aug-24

19 A R Enterprise SME Surveillance CRAB-SE 3 - - - 30-Dec-24

20 A R Saw Mill & timber Traders SME Initial Rating CRAB-SE 4 - - - 19-Dec-24

21 A R Trading SME Surveillance CRAB-SE 3 - - - 18-Jul-24

22 A Rahman & Brothers SME Surveillance CRAB-SE 3 - - - 23-Jun-24

23 A S Enterprise SME Surveillance CRAB-ME 2 - - - 23-Dec-24

24 A S Enterprise (City Bank) SME Surveillance CRAB-SE 3 - - - 05-Nov-24

25 A Salam Traders SME Initial Rating CRAB-SE 3 - - - 19-Sep-24

26 A Traders SME Initial CRAB-SE 3 - - - 13-Feb-25

27 A Wahab Metal Industries SME Initial Rating CRAB-SE 3 - - - 18-Jul-24

28 A Y Corporation SME Initial Rating CRAB-SE 3 - - - 25-Jun-24

29 A Z Corporation and Its Sister Concern SME Surveillance CRAB-SE 4 - - - 12-Feb-25

30 AA Knitspin Limited Corporate Surveillance BBB1 BBB1(Lr) ST-3 Stable 30-Jul-24

31 AA Synthetic Fibres Ltd. Corporate Surveillance A3 A3(Lr) ST-3 Stable 31-Dec-24

32 Aasia Tea Company Limited Corporate Initial Rating BBB3 BBB3(Lr) ST-3 Stable 20-Jun-24

33 AB Food and Beverage SME Initial CRAB-SE 3 - - - 05-Mar-25

34 ABA Agro farm SME Initial Rating CRAB-SE 3 - - - 14-Nov-24

35 ABC Building Products Ltd. Corporate Surveillance A2 A2(Lr) ST-3 Stable 29-Aug-24

36 Abdul Khaleque & Sons SME Surveillance CRAB-SE 3 - - - 25-Dec-24

37 Abdul Mannan SME Initial Rating CRAB-SE 3 - - - 14-Nov-24

38 Abdul Mannan & Brothers SME Initial Rating CRAB-SE 3 - - - 12-Dec-24

Lr-Loan rating, Pr-Project rating, SO-Structured Obligation, Dr-Debenture Rating

* Short Term loans include both funded and non-funded limits.
** Entity ratings are valid till mentioned date; Loan ratings are valid up to limit expiry date of respective credit facilities or till mentioned date, whichever is earlier.

1
Lr-Loan rating, Pr-Project rating, SO-Structured Obligation,
 Rating Update - March 2024
(Update up to 31 March 2024)

Sl No. Name of Client/Company Company/ Rating Type Entity Loan Ratings Rating
(Alphabetical order) Rating Long Term Short Term* Outlook Validity**
Firm Type

39 Abdul Mannan & Sons SME Surveillance CRAB-SE 3 - - - 14-Jun-24

40 Abdul Monaf SME Surveillance CRAB-SE 3 - - - 30-Jun-24

41 Abdul Monem Sugar Refinery Limited Corporate Initial Rating A1 A1(Lr) ST-2 Stable 05-Apr-24

42 Abdul Wahid Cottage Industries SME Surveillance CRAB-SE 3 - - - 04-Dec-24

43 Abdullah & Sons & Its Sister Concern SME Surveillance CRAB-SE 3 - - - 25-May-24

44 Abdullah Enterprise SME Initial Rating CRAB-SE 3 - - - 07-Nov-24

45 Abdullah Fashions Ltd. SME Surveillance CRAB-SE 3 - - - 14-Dec-24

46 Abdullah poultry Feed Mill SME Surveillance CRAB-SE 3 - - - 28-Sep-24

47 Abdur Rahim Shipon SME Initial Rating CRAB-SE 3 - - - 30-Aug-24

48 Abdur Rahman Traders SME Initial Rating CRAB-SE 3 - - - 19-Dec-24

49 Abdur Rahman Traders (Agrani bank) SME Initial Rating CRAB-SE 3 - - - 30-Dec-24

50 Abdur Razzak & Sons & Motsho Khamar SME Surveillance CRAB-SE 3 - - - 14-Apr-24

51 Abdus Samad SME Surveillance CRAB-ME 3 - - - 15-Aug-24

52 Abed Textile Processing Mills Limited Corporate Surveillance BBB3 BBB3(Lr) ST-3,ST-5 Stable 30-Apr-24

53 Abejan Chaul Kal SME Surveillance CRAB-SE 2 - - - 30-Dec-24

54 Abid Enterprise SME Initial Rating CRAB-SE 3 - - - 27-Sep-24

55 Able Shipping Lines SME Surveillance CRAB-ME 3 - - - 30-Nov-24

56 ABM Water Company Corporate Initial Rating BBB3 BBB3(Lr) ST-3 Stable 05-Apr-24

57 ABM Water Company Limited Corporate Initial Rating A2 A2(Lr) ST-3 Stable 20-Jun-24

58 ABS Cables Ltd SME Surveillance CRAB-ME 3 - - - 29-Jun-24

59 Absolute Quality Wear Ltd Corporate Surveillance BBB1 BBB1(Lr) ST-3 Stable 23-Jan-25

60 Abu Bakkor Traders SME Initial Rating CRAB-SE 3 - - - 05-Dec-24

61 Abul Hossen Chaul Kall SME Initial Rating CRAB-SE 3 - - - 20-Jun-24

62 Abul Kalam Traders SME Initial Rating CRAB-SE 3 - - - 26-Sep-24

63 Abul Khair Ceramics Industries Limited Corporate Surveillance AA3 AA3(Lr) ST-2 Stable 30-Sep-24

64 Abul Khair Limited Corporate Surveillance AA1 AA1(Lr) ST-1 Stable 30-Jun-24

65 Abul Khair Steel Products Limited Corporate Surveillance AA1 AA1(Lr) ST-1 Stable 30-Jun-24

66 AC World Electronics SME Surveillance CRAB-SE 3 - - - 10-Feb-25

67 AC World Heavy Industries SME Surveillance CRAB-SE 2 - - - 04-Nov-24

68 Access Medical Services SME Surveillance CRAB-SE 3 - - - 21-Sep-24

69 Access Trade International SME Surveillance CRAB-SE 3 - - - 20-Dec-24

70 ACME Electric Industries SME Initial Rating CRAB-SE 3 - - - 18-Jul-24

71 ACTS Asset Limited Corporate Surveillance BBB3 BBB3(Lr) - Stable 06-Feb-25

72 Adarsha Enterprise SME Initial Rating CRAB-SE 3 - - - 21-Nov-24

73 Adex Corporation Ltd. Corporate Surveillance AA3 - ST-3 Stable 30-Jun-24

74 Adex Engineering Ltd. Corporate Surveillance AA3 AA3(Lr) ST-3 Stable 30-Jun-24

75 Adhuna Accessories Limited SME Surveillance CRAB-SE 3 - - - 12-Nov-24

76 Adhury Motors SME Initial Rating CRAB-SE 3 - - - 29-Apr-24

77 Adib & Brothers & Its Sister Concern (Hajje Jalal Store) SME Initial Rating CRAB-SE 3 - - - 10-Oct-24

78 Adib Enterprise Corporate Surveillance BB1 BB1(Lr) ST-4 Stable 30-Jul-24

79 Adlib Collection SME Surveillance CRAB-SE 3 - - - 26-Nov-24

80 Adnan Stone Crusher SME Surveillance CRAB-SE 3 - - - 25-Jul-24

2
Lr-Loan rating, Pr-Project rating, SO-Structured Obligation,
 Rating Update - March 2024
(Update up to 31 March 2024)

Sl No. Name of Client/Company Company/ Rating Type Entity Loan Ratings Rating
(Alphabetical order) Rating Long Term Short Term* Outlook Validity**
Firm Type

81 Ador Dairy Farm SME Initial Rating CRAB-SE 3 - - - 08-Aug-24

82 Ador Enterprise SME Surveillance CRAB-SE 3 - - - 28-Sep-24

83 Adoria Services SME Surveillance CRAB-SE 3 - - - 28-Jun-24

84 Adury Apparels Ltd Corporate Surveillance A1 A1(Lr) ST-2 Stable 14-Jun-24

85 Adury Knit Composite Ltd Corporate Surveillance A2 A2(Lr) ST-2 Stable 14-Jun-24

86 Advance Animal Science Co Limited Corporate Surveillance BBB2 BBB2(Lr) ST-3 Stable 30-Jun-24

87 Advance Personal Care Limited Corporate Initial Rating A3 A3(Lr) ST-3 Stable 31-Mar-24

88 AEC Fishery & Hatchery SME Surveillance CRAB-SE 3 - - - 16-May-24

89 Aero-Speed International Ltd. Corporate Surveillance A2 A2(Lr) ST-3 Stable 31-Mar-24

90 Affan Interlining Limited SME Initial CRAB-ME 3 - - - 12-Mar-25

91 Afrooz Polymer Industries SME Surveillance CRAB-SE 3 - - - 20-Dec-24

92 Afroza Azam Khan Jute mills SME Initial Rating CRAB-SE 2 - - - 20-Jun-24

93 Afsar Ali Traders SME Initial CRAB-SE 3 - - - 13-Feb-25

94 Aftab Automobiles Ltd Corporate Surveillance A1 A1(Lr) ST-3 Stable 06-Feb-25

95 Aftab Carpets SME Initial Rating CRAB-SE 3 - - - 26-Sep-24

96 Agami Fashions Ltd Corporate Initial Rating BBB1 BBB1(Lr) ST-3 Stable 19-Dec-24

97 Agami Washing Ltd Corporate Initial Rating BBB2 BBB2(Lr) ST-3 Stable 19-Dec-24

98 Agency Six Limited SME Initial Rating CRAB-SE 3 - - - 25-Dec-24

99 Agora Ltd Corporate Initial Rating A2 A2(Lr) ST-2 Stable 12-Sep-24

100 Agrani Printing & Packaging SME Initial Rating CRAB-SE 3 - - - 05-Apr-24

101 Agrani Steel Corporation SME Surveillance CRAB-SE 3 - - - 23-Jun-24

102 Agrivita Bangladesh Ltd Corporate Surveillance BBB3 BBB3(Lr) ST-3 Stable 16-Jan-25

103 Agro Square SME Initial Rating CRAB-SE 3 - - - 30-Dec-24

104 Agrotech Feeds Ltd Corporate Surveillance BBB1 BBB1(Lr) ST-3 Stable 31-Jan-25

105 Ahammed Trading SME Initial CRAB-SE 3 - - - 12-Mar-25

106 Ahmed Construction (Mercantile) SME Surveillance CRAB-SE 3 - - - 05-Apr-24

107 Ahmed Construction (Trust Bank) SME Initial Rating CRAB-SE 3 - - - 30-Aug-24

108 Ahmed Enterprise SME Surveillance CRAB-SE 3 - - - 19-Dec-24

109 Ahmed Pharmacy and its sister concern Ashfak Ahmed SME Initial CRAB-SE 3 - - - 13-Feb-25

110 AHS Enterprise SME Initial Rating CRAB-SE 3 - - - 24-May-24

111 Ahsan Habib Traders SME Initial Rating CRAB-SE 3 - - - 02-Aug-24

112 Ahsan Store SME Initial Rating CRAB-SE 3 - - - 06-Sep-24

113 Aimon Enterprise SME Surveillance CRAB-SE 3 - - - 28-Dec-24

114 Air Alliance Limited Corporate Initial A2 A2(Lr) ST-2 Stable 16-Jan-25

115 Air Condition World SME Surveillance CRAB-SE 3 - - - 21-Aug-24

116 Aiyat Trading SME Initial Rating CRAB-SE 4 - - - 13-Jun-24

117 AJ Fashions Ltd. Corporate Surveillance BBB2 BBB2(Lr) ST-3 Stable 15-Dec-24

118 AJ Overseas Company Limited Corporate Initial Rating BBB1 BBB1(Lr) ST-3 Stable 30-Aug-24

119 Ajmeri Golden Fiber SME Surveillance CRAB-ME 2 - - - 26-Nov-24

120 Akash Enterprise & Furniture Mart SME Initial Rating CRAB-SE 3 - - - 07-Nov-24

121 Akash Tara Traders SME Initial Rating CRAB-SE 3 - - - 10-Oct-24

122 Akata Container Carrier Service SME Surveillance CRAB-ME 2 - - - 29-Dec-24

3
Lr-Loan rating, Pr-Project rating, SO-Structured Obligation,
 Rating Update - March 2024
(Update up to 31 March 2024)

Sl No. Name of Client/Company Company/ Rating Type Entity Loan Ratings Rating
(Alphabetical order) Rating Long Term Short Term* Outlook Validity**
Firm Type

123 Akbar Composite Ltd Corporate Surveillance BBB2 BBB2(Lr) ST-3 Stable 16-Jan-25

124 Akbar Cotton Mills Ltd Corporate Initial Rating BBB3 BBB3(Lr) ST-3 Stable 08-May-24

125 Akbor Traders SME Surveillance CRAB-SE 3 - - - 16-Oct-24

126 Akco Industries & Cold Storage Limited Corporate Surveillance A2 A2(Lr) ST-3 Stable 13-Jun-24

127 Akhi Chaul Kall SME Initial Rating CRAB-SE 3 - - - 26-Sep-24

128 Akhi Enterprise SME Initial CRAB-SE 3 - - - 12-Mar-25

129 Akhi International SME Surveillance CRAB-ME 3 - - - 15-Sep-24

130 Akhi Traders SME Initial Rating CRAB-SE 3 - - - 25-Dec-24

131 Akij Agro and Livestock Ltd Project Initial BBB1(Pr) - - - 30-Jan-25

132 Akij Asset International Corporate Surveillance BBB1 - - Stable 29-Oct-24

133 Akij Assets Ltd Corporate Surveillance A3 - - Stable 26-Nov-24

134 Akij Bicycle Industries Limited Project Initial BBB1(Pr) - - - 19-Mar-25

135 Akij Jute Mills Limited Corporate Surveillance AA1 AA1(Lr) ST-2 Stable 30-Nov-24

136 Akij Match Factory Limited Corporate Initial A3 A3(Lr) ST-3 Stable 23-Jan-25

137 Akij Motors SME Initial Rating CRAB-SE 3 - - - 30-Dec-24

138 Akij Plastics Limited Corporate Surveillance BBB1(Pr) - - - 30-Nov-24

139 Akil Fashion SME Surveillance CRAB-SE 3 - - - 01-Feb-25

140 Aktar Traders SME Initial Rating CRAB-SE 3 - - - 12-Dec-24

141 Al Amin Fashion SME Initial Rating CRAB-SE 3 - - - 05-Dec-24

142 Al Amin Marine Engineering Works SME Surveillance CRAB-SE 3 - - - 20-Jun-24

143 Al Amin Motors SME Initial Rating CRAB-SE 3 - - - 30-Oct-24

144 AL Amin Paints SME Initial Rating CRAB-SE 3 - - - 30-Dec-24

145 Al Amin Plywood Industries Ltd Corporate Surveillance BB1 BB1(Lr) ST-3 Stable 30-Jul-24

146 Al Amin Weaving Factory SME Surveillance CRAB-SE 3 - - - 29-Oct-24

147 Al Baqarah Pet Flacks SME Surveillance CRAB-SE 3 - - - 30-Sep-24

148 Al Burak Trader SME Surveillance CRAB-SE 3 - - - 25-Jun-24

149 Al Equain Enterprise SME Initial Rating CRAB-SE 3 - - - 08-Aug-24

150 Al Hamra International SME Surveillance CRAB-SE 3 - - - 05-Dec-24

151 Al Hasan Super Auto Rice Mill SME Initial Rating CRAB-SE 3 - - - 15-Aug-24

152 Al Helal Verities store and Its sister concern Md Helal Miah SME Initial CRAB-SE 3 - - - 13-Feb-25

153 Al Hera Medicine Center SME Initial Rating CRAB-SE 3 - - - 07-Nov-24

154 Al Madina Store SME Surveillance CRAB-SE 3 - - - 28-Sep-24

155 Al Maqam International SME Surveillance CRAB-SE 3 - - - 15-Sep-24

156 Al Marwan Travels and Tours SME Surveillance CRAB-SE 3 - - - 19-Jan-25

157 Al Modina Enterprise SME Initial Rating CRAB-SE 3 - - - 30-Aug-24

158 Al Modina Traders SME Surveillance CRAB-SE 3 - - - 30-Jun-24

159 Al Mostafa Agro Industrial Complex Limited Corporate Surveillance BBB3 BBB3(Lr) ST-3 Stable 05-Mar-25

160 Al Mostafa printing & Packaging Limited Corporate Surveillance A3 A3(Lr) ST-3 Stable 16-May-24

161 Al Noor Corporation Corporate Surveillance BBB2 - ST-3 Stable 23-Jan-25

162 Al Noor Stone Crusher SME Surveillance CRAB-SE 3 - - - 29-Sep-24

163 Alam and Co SME Initial CRAB-SE 3 - - - 23-Jan-25

164 Alam Traders SME Surveillance CRAB-SE 3 - - - 26-May-24

4
Lr-Loan rating, Pr-Project rating, SO-Structured Obligation,
 Rating Update - March 2024
(Update up to 31 March 2024)

Sl No. Name of Client/Company Company/ Rating Type Entity Loan Ratings Rating
(Alphabetical order) Rating Long Term Short Term* Outlook Validity**
Firm Type

165 Al-Amin Hardware SME Surveillance CRAB-SE 3 - - - 21-Aug-24

166 Al-Arafat Services (Pvt.) Limited SME Surveillance CRAB-SE 3 - - - 26-Sep-24

167 Alauddin and Sons SME Initial Rating CRAB-SE 3 - - - 06-Sep-24

168 Alauddin Traders SME Surveillance CRAB-SE 3 - - - 28-Sep-24

169 Alema Textiles Limited Corporate Surveillance BBB2 BBB2(Lr) ST-3 Stable 19-Dec-24

170 Alfaz and Brothers SME Initial CRAB-SE 3 - - - 23-Jan-25

171 Alfis Limited Corporate Surveillance A3 A3(Lr) ST-3 Stable 31-Jan-25

172 Alhaj Alim Traders SME Initial Rating CRAB-SE 3 - - - 30-Dec-24

173 Alhaj Mohiruddin Husking Mill SME Initial CRAB-SE 3 - - - 06-Feb-25

174 Alhaj Traders SME Initial Rating CRAB-SE 3 - - - 21-Nov-24

175 Alhaz Abdur Rakib & Sons SME Initial Rating CRAB-SE 3 - - - 19-Dec-24

176 Ali Ahmed SME Initial Rating CRAB-SE 3 - - - 14-Nov-24

177 Ali Akbar Enterprise SME Initial Rating CRAB-SE 3 - - - 01-Aug-24

178 Ali Akbar Traders SME Initial CRAB-SE 3 - - - 26-Mar-25

179 Ali Aluminum Works SME Surveillance CRAB-SE 3 - - - 13-Jun-24

180 Ali Automobile Works SME Surveillance CRAB-SE 3 - - - 30-Oct-24

181 Ali Enterprise SME Surveillance CRAB-SE 3 - - - 28-Dec-24

182 Ali Garments Limited Corporate Initial Rating BBB3 BBB3(Lr) ST-3 Stable 16-May-24

183 Ali Hardware Store SME Surveillance CRAB-SE 3 - - - 23-Jun-24

184 Ali Natural Oil Mill and Agro Industries Ltd Corporate Surveillance BBB3 BBB3(Lr) ST-3 Stable 30-Jul-24

185 Ali Store SME Surveillance CRAB-SE 3 - - - 12-Dec-24

186 Ali Traders SME Initial Rating CRAB-SE 3 - - - 30-May-24

187 Ali Traders SME Surveillance CRAB-SE 3 - - - 18-Dec-24

188 Alien Apparels Limited SME Surveillance CRAB-ME 3 - - - 29-Mar-25

189 Alif Embroidery Village Ltd. Corporate Surveillance BBB2 BBB2(Lr) ST-3 Stable 30-Dec-24

190 Alif Steel Mills Ltd SME Surveillance CRAB-ME 2 - - - 28-Feb-25

191 Alif Trade Link SME Surveillance CRAB-SE 3 - - - 09-Aug-24

192 Alim Weaving Factory SME Initial Rating CRAB-SE 3 - - - 30-Aug-24

193 Alina Auto Bike Industries SME Surveillance CRAB-SE 3 - - - 30-Oct-24

194 Alita BD Ltd Corporate Initial A3 - ST-3 Stable 30-Jan-25

195 All Trade International SME Surveillance CRAB-SE 3 - - - 20-Jun-24

196 Alliance Stitches Ltd Corporate Surveillance A2 A2(Lr) ST-2 Stable 13-Feb-25

197 Allo Enterprise SME Initial Rating CRAB-SE 3 - - - 16-May-24

198 Allport Cargo Services Air Limited Corporate Initial A2 A2(Lr) ST-2 Stable 16-Jan-25

199 Al-Mahmud Filling Station Ltd Corporate Surveillance BBB3 BBB3(Lr) ST-3 Stable 23-Jun-24

200 Almas & Co SME Surveillance CRAB-ME 2 - - - 27-May-24

201 Al-Noor Steel Complex Limited Corporate Surveillance A2(Hyb) - - Stable 31-Mar-24

202 Alom Traders SME Initial CRAB-SE 3 - - - 06-Feb-25

203 Alom Traders SME Initial Rating CRAB-SE 3 - - - 19-Dec-24

204 Alpha Clothing Ltd Corporate Initial Rating A3 A3(Lr) ST-3 Stable 12-Dec-24

205 Alpha Plastics & Packaging Corporate Surveillance BBB2 BBB2(Lr) ST-3 Stable 24-Dec-24

206 Altech Aluminum Industries Ltd Corporate Surveillance A2 A2(Lr) ST-3 Stable 30-Jun-24

5
Lr-Loan rating, Pr-Project rating, SO-Structured Obligation,
 Rating Update - March 2024
(Update up to 31 March 2024)

Sl No. Name of Client/Company Company/ Rating Type Entity Loan Ratings Rating
(Alphabetical order) Rating Long Term Short Term* Outlook Validity**
Firm Type

207 Alvi International SME Surveillance CRAB-SE 3 - - - 25-Dec-24

208 Aman Builder’s SME Surveillance CRAB-SE 3 - - - 28-Oct-24

209 Aman Fashion & Design Ltd. Corporate Surveillance BBB3 BBB3(Lr) ST-3 Stable 02-Dec-24

210 Aman Graphics & Designs Ltd. Corporate Surveillance A2 A2(Lr) ST-3 Stable 02-Dec-24

211 Aman Knittings Ltd. Corporate Surveillance A2 A2(Lr) ST-3 Stable 02-Dec-24

212 Aman Plastic Industries SME Surveillance CRAB-ME 2 - - - 05-Feb-25

213 Aman Spinning Mills Ltd Corporate Surveillance A1 A1(Lr) ST-3 Stable 31-May-24

214 Aman Sweaters Ltd. Corporate Surveillance BBB3 BBB3(Lr) ST-3 Stable 02-Dec-24

215 Aman Winter wears Ltd Corporate Surveillance BBB3 BBB3(Lr) ST-3 Stable 02-Dec-24

216 Amana Daily Shop SME Surveillance CRAB-SE 2 - - - 20-Jun-24

217 AMC Knit Composite Ltd. Corporate Surveillance A1 A1(Lr) ST-3 Stable 31-Oct-24

218 Amena Chaul kall SME Initial Rating CRAB-SE 3 - - - 30-Dec-24

219 Amena Stone Crusher SME Initial Rating CRAB-SE 3 - - - 30-Dec-24

220 AMI and Company SME Surveillance CRAB-ME 2 - - - 28-Feb-25

221 Amichi Apparels Ltd Corporate Surveillance BBB3 BBB3(Lr) ST-3 Stable 22-Dec-24

222 Amin Electrical Industries SME Initial Rating CRAB-SE 3 - - - 12-Sep-24

223 Amin Traders SME Surveillance CRAB-SE 3 - - - 28-Sep-24

224 Amina Enterprise SME Initial Rating CRAB-SE 3 - - - 01-Aug-24

225 Aminul Momins SME Initial Rating CRAB-SE 5 - - - 13-Jun-24

226 Amir Construction & Co SME Initial Rating CRAB-SE 3 - - - 16-May-24

227 Amira Reliant Limited SME Initial CRAB-SE 3 - - - 05-Mar-25

228 Amirul Enterprise SME Surveillance CRAB-SE 3 - - - 09-Aug-24

229 Amiruzzaman Chowdhury SME Surveillance CRAB-SE 3 - - - 15-Aug-24

230 Ammajan Agro Foods SME Initial Rating CRAB-SE 3 - - - 19-Dec-24

231 AMMS logistics SME Surveillance CRAB-ME 2 - - - 15-Feb-25

232 Amotex Ltd. Corporate Surveillance BBB3 BBB3(Lr) ST-3 Stable 23-Sep-24

233 AN-AA Textiles Ltd. SME Surveillance CRAB-ME 3 - - - 25-Dec-24

234 Anam Garments Limited SME Initial Rating CRAB-SE 3 - - - 24-Oct-24

235 Ananda Enterprise SME Surveillance CRAB-SE 3 - - - 25-Jun-24

236 Ananda Food Products SME Initial Rating CRAB-SE 3 - - - 07-Nov-24

237 Ananta Apparels Ltd Corporate Surveillance AA1 AA1(Lr) ST-2 Stable 30-Mar-25

238 Ananta Knitwear Limited Project Initial Rating BBB1(Pr) - - - 26-Sep-24

239 Ananta Paper Mills Ltd Corporate Surveillance AA3 AA3(Lr) ST-2 Stable 31-Jan-25

240 Ananta Real Estate Ltd Project Surveillance A3(Pr) - - - 19-Feb-25

241 Anesa Villa SME Initial Rating CRAB-SE 3 - - - 24-May-24

242 Angel Button Limited SME Surveillance CRAB-SE 3 - - - 10-Oct-24

243 Anik Trims Limited SME Initial Rating CRAB-SE 4 - - - 26-Sep-24

244 Anita Apparels Limited Corporate Initial Rating BBB3 BBB3(Lr) ST-3 Stable 17-Oct-24

245 Anjuara Chaul Kall SME Initial Rating CRAB-SE 3 - - - 30-Dec-24

246 Anjuman Garments (Pvt) Ltd. Corporate Surveillance A3 - ST-3 Stable 29-Mar-25

247 Annapurna Agro Service SME Initial Rating CRAB-SE 3 - - - 14-Nov-24

248 Antezar Agro Chemicals SME Surveillance CRAB-SE 3 - - - 25-Dec-24

6
Lr-Loan rating, Pr-Project rating, SO-Structured Obligation,
 Rating Update - March 2024
(Update up to 31 March 2024)

Sl No. Name of Client/Company Company/ Rating Type Entity Loan Ratings Rating
(Alphabetical order) Rating Long Term Short Term* Outlook Validity**
Firm Type

249 Antor Bricks SME Initial Rating CRAB-SE 3 - - - 12-Dec-24

250 Anupam Printers Corporate Surveillance BB1 BB1(Lr) ST-4 Stable 07-Jun-24

251 Anwar General Hospital and Laparoscopy Surgery Center SME Initial Rating CRAB-SE 3 - - - 24-Oct-24

252 AP Rice Mill SME Initial Rating CRAB-SE 3 - - - 26-Sep-24

253 Apex Fashion Wear Ltd. Corporate Surveillance A1 A1(Lr) ST-2 Stable 31-Dec-24

254 Apex Foods Ltd. Corporate Surveillance A1 - ST-1,ST-3 Stable 31-Dec-24

255 Apex Lingerie Ltd. Corporate Surveillance AA2 AA2(Lr) ST-2 Stable 31-Dec-24

256 Apex Spinning & Knitting Mills Ltd. Corporate Surveillance AA3 - ST-2 Stable 31-Dec-24

257 Apex Textile Printing Mills Ltd. Corporate Surveillance AA2 AA2(Lr) ST-2 Stable 31-Dec-24

258 Apex Yarn Dyeing Ltd. Corporate Surveillance AA3 AA3(Lr) ST-2 Stable 31-Dec-24

259 Apollo Swing & Garments Limited Corporate Surveillance BB2 BB2(Lr) ST-4 Stable 26-Jun-24

260 Apon Chinta Automatic Chaul Kol SME Initial Rating CRAB-SE 3 - - - 05-Dec-24

261 Apparel Stitch Ltd. Corporate Surveillance BBB2 BBB2(Lr) ST-3 Stable 28-Dec-24

262 Apparels Village Limited Corporate Initial Rating A1 A1(Lr) ST-2 Stable 05-Apr-24

263 Aptech Caswier Ltd Corporate Surveillance A3 A3(Lr) ST-3 Stable 01-Mar-25

264 Aquatic Trading Limited Corporate Initial Rating BBB3 BBB3(Lr) ST-4 Stable 13-Jun-24

265 AR Enterprise SME Initial Rating CRAB-SE 3 - - - 30-Dec-24

266 Arab Electronics SME Surveillance CRAB-SE 3 - - - 23-Sep-24

267 Araf International SME Initial CRAB-SE 3 - - - 19-Mar-25

268 Arafat Chaul Kal SME Initial Rating CRAB-SE 3 - - - 22-Aug-24

269 Arafat Construction Corporate Surveillance BBB2 BBB2(Lr) ST-3 Stable 05-Dec-24

270 Arafat Enterprise SME Initial Rating CRAB-SE 3 - - - 25-Dec-24

271 Arafat Medical Store SME Initial Rating CRAB-SE 3 - - - 06-Jun-24

272 Arafat Stone Crusher SME Initial Rating CRAB-SE 3 - - - 10-Oct-24

273 Ardent Marine Ltd. SME Surveillance CRAB-SE 2 - - - 18-Dec-24

274 Areeb Sanitary and Hardware SME Initial CRAB-SE 3 - - - 06-Feb-25

275 Arefin Enterprise Corporate Initial Rating A3 A3(Lr) ST-3 Stable 12-Dec-24

276 Arham Delmon Industries Ltd. SME Surveillance CRAB-SE 5 - - - 30-Dec-24

277 Arif Variety Store SME Initial Rating CRAB-SE 3 - - - 21-Nov-24

278 Arik International SME Initial Rating CRAB-SE 3 - - - 14-Nov-24

279 Ariza Enterprise SME Initial CRAB-SE 3 - - - 13-Feb-25

280 Arki Motors SME Initial Rating CRAB-SE 3 - - - 26-Sep-24

281 Arla Foods Bangladesh Limited Corporate Initial Rating A1 - - Stable 24-Oct-24

282 ARM Engineers and Its Sister concerns SME Initial CRAB-ME 3 - - - 16-Jan-25

283 ARMAC Services Ltd. Corporate Surveillance B1 B1 (Lr) ST-4 Stable 19-Sep-24

284 Armor Bangladesh Ltd Corporate Surveillance BBB2 BBB2(Lr) ST-3 Stable 30-Mar-25

285 Arna Tex Ltd SME Surveillance CRAB-SE 4 - - - 31-Jan-25

286 Arora Traders SME Initial Rating CRAB-SE 3 - - - 06-Sep-24

287 Array International Ltd Corporate Surveillance BBB2 - ST-3 Stable 31-Mar-25

288 Arrow Manufacturing Ltd Corporate Initial Rating BBB3 BBB3(Lr) ST-3 Stable 19-Dec-24

289 Artisan Outfitters Limited Corporate Initial Rating BBB2 BBB2(Lr) ST-3 Stable 16-Apr-24

290 Artista Leather Limited Corporate Initial Rating BBB2 BBB2(Lr) ST-3 Stable 05-Apr-24

7
Lr-Loan rating, Pr-Project rating, SO-Structured Obligation,
 Rating Update - March 2024
(Update up to 31 March 2024)

Sl No. Name of Client/Company Company/ Rating Type Entity Loan Ratings Rating
(Alphabetical order) Rating Long Term Short Term* Outlook Validity**
Firm Type

291 Artizan Fashion House SME Initial Rating CRAB-SE 3 - - - 16-May-24

292 As Salam Industries Limited SME Initial Rating CRAB-SE 3 - - - 17-Oct-24

293 Asad Enterprise SME Surveillance CRAB-SE 3 - - - 30-Mar-25

294 Asadul Raju Traders SME Initial Rating CRAB-SE 3 - - - 12-Sep-24

295 Asdwa Fashion Limited SME Surveillance CRAB-SE 3 - - - 28-Sep-24

296 Asgar Hossain SME Surveillance CRAB-SE 3 - - - 18-Nov-24

297 Asha Automobile Spare Parts Mfg Co Ltd SME Initial CRAB-SE 4 - - - 05-Mar-25

298 Asha Cloth Store SME Initial CRAB-SE 3 - - - 27-Feb-25

299 Asha Mudron Prokasoni SME Initial Rating CRAB-SE 3 - - - 19-Sep-24

300 Asha Poultry & Hatchery SME Initial Rating CRAB-SE 3 - - - 18-Jul-24

301 Ashraf Traders SME Surveillance CRAB-SE 3 - - - 18-Apr-24

302 Ashraf Traders (One Bank) SME Surveillance CRAB-SE 3 - - - 30-Jun-24

303 Ashraf Weaving Factory SME Initial CRAB-SE 3 - - - 23-Jan-25

304 Ashrafuzzaman & Co SME Surveillance CRAB-ME 2 - - - 27-May-24

305 Asia Auto Rice Mills Limited SME Surveillance CRAB-SE 3 - - - 02-Jun-24

306 Asia Car (BD) Limited Corporate Surveillance BBB2 BBB2(Lr) ST-3 Stable 05-Apr-24

307 Asia Industries (Pvt) Ltd. Corporate Surveillance BBB2 BBB2(Lr) ST-3 Stable 29-Aug-24

308 Asia Marin Engineering Corporate Initial Rating BBB3 BBB3(Lr) ST-3 Stable 18-Jul-24

309 Asia Nauser Enterprise SME Surveillance CRAB-SE 3 - - - 28-Dec-24

310 Asia Sourcing Trading Ltd SME Initial Rating CRAB-SE 3 - - - 12-Dec-24

311 Asia Traders SME Initial Rating CRAB-SE 3 - - - 08-Aug-24

312 Asian Sweater SME Initial Rating CRAB-SE 3 - - - 18-Jul-24

313 Asif Traders SME Surveillance CRAB-SE 3 - - - 28-Dec-24

314 ASL Systems Ltd Corporate Surveillance BBB2 BBB2(Lr) ST-3 Stable 01-May-24

315 Asma Printing & Packaging Industries SME Surveillance CRAB-SE 2 - - - 25-Jul-24

316 Asman Big Bazar SME Surveillance CRAB-SE 3 - - - 11-Nov-24

317 Asset Development & Holdings Ltd. Corporate Surveillance AA3 AA3(Lr) ST-2 Stable 31-Dec-24

318 Assurance Developments Ltd Corporate Surveillance A1 - ST-3 Stable 28-Feb-25

319 AST Beverage Ltd Corporate Surveillance AA3 AA3(Lr) ST-3/St-5 Stable 30-Apr-24

320 Astech Limited Corporate Surveillance A3 A3(Lr) ST-3 Stable 14-Jun-24

321 A-Tex International Limited Corporate Surveillance A1 A1(Lr) ST-2 Stable 10-May-24

322 Atique Construction SME Initial CRAB-SE 3 - - - 16-Jan-25

323 Atiya Travels SME Initial Rating CRAB-SE 3 - - - 25-Dec-24

324 Aulia Rice Mill & Its Sister Concern SME Surveillance CRAB-SE 3 - - - 01-Sep-24

325 Auto Hub SME Initial Rating CRAB-SE 3 - - - 22-Aug-24

326 Auto Motor Importing SME Surveillance CRAB-SE 3 - - - 25-Nov-24

327 Autokap Bricks Ltd. Corporate Surveillance BBB3 BBB3(Lr) ST-3 Stable 22-Dec-24

328 Avance Aisa Ltd SME Initial Rating CRAB-SE 3 - - - 19-Dec-24

329 Avant Garments Ltd Corporate Initial Rating BBB1 BBB1(Lr) ST-3 Stable 13-Jun-24

330 Avenger Textils Ltd. Corporate Surveillance BBB2 BBB2(Lr) ST-3 Stable 03-Feb-25

331 Axis Knitwears Ltd Corporate Surveillance BBB2 BBB2(Lr) ST-3 Stable 11-Oct-24

332 AYAAN TRADE INTERNATIONAL SME Initial Rating CRAB-SE 3 - - - 24-Oct-24

8
Lr-Loan rating, Pr-Project rating, SO-Structured Obligation,
 Rating Update - March 2024
(Update up to 31 March 2024)

Sl No. Name of Client/Company Company/ Rating Type Entity Loan Ratings Rating
(Alphabetical order) Rating Long Term Short Term* Outlook Validity**
Firm Type

333 Ayath Enterprise SME Surveillance CRAB-SE 3 - - - 28-Dec-24

334 Azad & Brothers SME Surveillance CRAB-SE 3 - - - 29-Aug-24

335 Azad & Sons SME Surveillance CRAB-SE 4 - - - 25-Jul-24

336 Azad Art Hall & its sister concerns SME Surveillance CRAB-SE 3 - - - 24-Oct-24

337 Azad Syndicate SME Initial Rating CRAB-SE 3 - - - 08-Aug-24

338 Azad Trading Tejgaon SME Surveillance CRAB-SE 3 - - - 28-Sep-24

339 Azim & Co. SME Initial Rating CRAB-SE 3 - - - 26-Sep-24

340 Aziz Paint & Hardware SME Surveillance CRAB-SE 3 - - - 30-Dec-24

341 Aziz Plastics Limited SME Surveillance CRAB-SE 3 - - - 14-Dec-24

342 Aziz Stone Crusher SME Surveillance CRAB-SE 3 - - - 07-Jun-24

343 Azizur Rahman SME Surveillance CRAB-SE 3 - - - 28-Sep-24

344 Azmeen Enterprise SME Initial Rating CRAB-SE 3 - - - 06-Apr-24

345 Azmeer Traders SME Surveillance CRAB-SE 3 - - - 26-Sep-24

346 Azmi Foods Ltd Corporate Surveillance BBB1 - ST-3 Stable 31-Jan-25

347 Azna & Azna SME Surveillance CRAB-SE 5 - - - 06-Jun-24

348 B K Enterprise (Sylhet) SME Surveillance CRAB-SE 3 - - - 09-Aug-24

349 B K Enterprise SME Surveillance CRAB-SE 3 - - - 12-Dec-24

350 B M Traders SME Surveillance CRAB-SE 3 - - - 30-Jul-24

351 B N Bricks SME Surveillance CRAB-SE 3 - - - 11-Aug-24

352 B S Syndicate SME Initial Rating CRAB-SE 3 - - - 24-Oct-24

353 B S T Bricks SME Surveillance CRAB-SE 3 - - - 29-Sep-24

354 B2B Excellence Limited Corporate Surveillance BBB2 - ST-3 Stable 14-Dec-24

355 Babla & Brothers SME Initial Rating CRAB-SE 3 - - - 12-Dec-24

356 Babul Dairy & Motatazakara Prokolpo SME Initial Rating CRAB-SE 3 - - - 21-Nov-24

357 Babul Rice Mill And Basai Mill SME Initial Rating CRAB-SE 3 - - - 25-Dec-24

358 Baby Choice SME Initial Rating CRAB-SE 3 - - - 30-Oct-24

359 Badal & Company Corporate Surveillance BBB3 BBB3(Lr) ST-3 Stable 03-Jun-24

360 Badgetex Apparels Ltd Corporate Surveillance A3 - ST-3 Stable 14-Feb-25

361 Badhon Tiles & Sanitary SME Surveillance CRAB-SE 3 - - - 07-Nov-24

362 Badrunnessa Private Hospital SME Initial Rating CRAB-SE 3 - - - 30-Dec-24

363 Badsha Fishing Net & Rope Industries Ltd. SME Surveillance CRAB-SE 3 - - - 26-Nov-24

364 Badsha Traders SME Initial CRAB-SE 3 - - - 13-Feb-25

365 Bajaj Kanon SME Initial Rating CRAB-SE 3 - - - 30-Oct-24

366 Baly Garments SME Surveillance CRAB-ME 3 - - - 22-Apr-24

367 Bamper Kabir Enterprise SME Initial Rating CRAB-SE 3 - - - 30-May-24

368 Bandar Steel Industries Limited Corporate Surveillance A3 A3(Lr) ST-3 Stable 30-Jun-24

369 Bandhan Sharee Ghor SME Surveillance CRAB-SE 3 - - - 21-Sep-24

370 Bangla Foils Ltd Corporate Surveillance BBB1 BBB1(Lr) ST-4 Stable 31-Jan-25

371 Bangla Tex SME Surveillance CRAB-SE 3 - - - 06-Sep-24

372 Bangladesh Army University of Science and Technology Corporate Initial A3 A3(Lr) - Stable 09-Jan-25

373 Bangladesh Auto Spring Industry Ltd. Corporate Surveillance BBB2 BBB2(Lr) ST-3 Stable 04-Nov-24

374 Bangladesh Crown Italian Terrazzo Works SME Surveillance CRAB-SE 3 - - - 31-Dec-24

9
Lr-Loan rating, Pr-Project rating, SO-Structured Obligation,
 Rating Update - March 2024
(Update up to 31 March 2024)

Sl No. Name of Client/Company Company/ Rating Type Entity Loan Ratings Rating
(Alphabetical order) Rating Long Term Short Term* Outlook Validity**
Firm Type

375 Bangladesh Double Glazed Ltd SME Surveillance CRAB-SE 3 - - - 20-Dec-24

376 Bangladesh Industrial Gases Ltd Corporate Surveillance BBB2 BBB2(Lr) ST-3 Stable 03-Oct-24

377 Bangladesh Lions Foundation Corporate Initial Rating BBB2 - ST-3 Stable 20-Jun-24

378 Bangladesh Mechatronics Industries Limited SME Surveillance CRAB-SE 3 - - - 05-Nov-24

379 Bangladesh Spinners & Knitters (Pvt) Ltd. Corporate Surveillance BBB2 BBB2(Lr) ST-3 Stable 10-Sep-24

380 Bangladesh Steel Corporation SME Surveillance CRAB-SE 3 - - - 22-Mar-25

381 Bangladesh Technosity Ltd. Corporate Surveillance A3(Pr) - - - 06-Dec-24

382 Bangladesh Textile and Chemical Fiber Industry Ltd. Corporate Surveillance BBB3 BBB3(Lr) ST-3 Stable 11-Dec-24

383 Banglamark Corporation SME Surveillance CRAB-SE 3 - - - 17-Jun-24

384 Banglamark Limited Corporate Surveillance BBB3 BBB3(Lr) ST-3 Stable 29-Aug-24

385 Bangla-UK Agro Products Limited Corporate Surveillance BBB3 BBB3(Lr) ST-3 Stable 31-Jul-24

386 Banolata Sweets and Bakery SME Initial CRAB-SE 3 - - - 06-Feb-25

387 Baraka Fashion Limited Corporate Surveillance BBB2 BBB2(Lr) ST-3 Stable 25-Apr-24

388 Baraka Patenga Power Ltd. Corporate Surveillance AA2 AA2(Lr) ST-2 Stable 24-Jan-25

389 Baraka Power Limited Corporate Surveillance AA1 AA1(Lr) ST-2 Stable 27-Dec-24

390 Baraka Ship Breaking & Recycling Corporate Initial Rating BBB3 BBB3(Lr) ST-3 Stable 12-Sep-24

391 Baraoora (Sylhet) Tea Company Limited Corporate Surveillance AA1 AA1(Lr) ST-1 Stable 31-Dec-24

392 Baridhi Garments Ltd. Corporate Surveillance A2 A2(Lr) ST-3 Stable 31-Oct-24

393 Barind Medical College & Hospital Ltd Corporate Surveillance BBB2 BBB2(Lr) ST-3 Stable 30-Jun-24

394 Barisal Surgical SME Surveillance CRAB-SE 3 - - - 24-Oct-24

395 Barotopa Printers Ltd Corporate Surveillance BBB3 BBB3(Lr) ST-3 Stable 30-Sep-24

396 Barsha Traders SME Initial Rating CRAB-SE 3 - - - 28-Nov-24

397 Basak Auto Rice and Agro Food Industries Ltd SME Surveillance CRAB-SE 3 - - - 12-Feb-25

398 Bashundhara Airways Ltd. Corporate Surveillance BBB2 BBB2(Lr) ST-3 Stable 30-Dec-24

399 Bashundhara Chemical Industries Ltd. Corporate Surveillance BBB1 BBB1(Lr) - Stable 31-Dec-24

400 Bashundhara Multi Paper Industries Ltd. Corporate Surveillance A2 A2(Lr) ST-3 Stable 31-Dec-24

401 Bashundhara Multi Trading Ltd. Corporate Surveillance A3 A3(Lr) ST-3 Stable 31-Dec-24

402 Bashundhara Paper Mills Ltd. Corporate Surveillance AA1 AA1(Lr) ST-2 Stable 31-Dec-24

403 Bashundhara Trading SME Surveillance CRAB-SE 3 - - - 16-Jan-25

404 Basic Trade SME Initial Rating CRAB-SE 3 - - - 06-Jun-24

405 Basudev Saha SME Surveillance CRAB-SE 3 - - - 29-Sep-24

406 Bata Shoe Company (Bangladesh) Ltd Corporate Surveillance AAA AAA(Lr) ST-1 Stable 31-Mar-24

407 Bay Development Ltd. Corporate Surveillance AA2 AA2(Lr) ST-3 Stable 31-Dec-24

408 BD Corporation and Allied Concern Corporate Surveillance BBB1 - ST-3 Stable 31-Jan-25

409 BD Foods Ltd Corporate Surveillance A1 A1(Lr) ST-3 Stable 31-Jan-25

410 BD Knit Design Ltd. Corporate Surveillance BBB3 BBB3(Lr) ST-3 Stable 30-Nov-24

411 BD Plast Ltd SME Surveillance CRAB-SE 2 - - - 05-Jan-25

412 BD Sea Food Ltd Corporate Surveillance A3 A3(Lr) ST-3 Stable 31-Jan-25

413 Beacon Pharmaceuticals PLC Corporate Surveillance AA3 AA3(Lr) ST-2 Stable 30-Nov-24

414 Beauty Hardware SME Surveillance CRAB-SE 3 - - - 29-Oct-24

415 Beauty Trading SME Initial Rating CRAB-SE 3 - - - 30-Dec-24

416 BELA Agro Park SME Initial Rating CRAB-SE 3 - - - 22-Aug-24

10
Lr-Loan rating, Pr-Project rating, SO-Structured Obligation,
 Rating Update - March 2024
(Update up to 31 March 2024)

Sl No. Name of Client/Company Company/ Rating Type Entity Loan Ratings Rating
(Alphabetical order) Rating Long Term Short Term* Outlook Validity**
Firm Type

417 Belal Rice Mills SME Initial CRAB-SE 3 - - - 16-Jan-25

418 Belamy Textiles Ltd. Corporate Surveillance AA3 AA3(Lr) ST-3 Stable 31-Dec-24

419 Bengal Adhesive and Chemical Products Limited Corporate Initial Rating BBB1 BBB1(Lr) ST-3 Stable 30-Dec-24

420 Bengal Agencies SME Surveillance CRAB-SE 3 - - - 18-Jun-24

421 Bengal Agri Foods Corporate Surveillance A3 A3(Lr) ST-3 Stable 30-Dec-24

422 Bengal Airlift Aviation Limited Corporate Initial Rating A2 A2(Lr) ST-2 Stable 14-Nov-24

423 Bengal Airlift Limited Corporate Initial Rating A1 - ST-1, ST-2 Stable 14-Nov-24

424 Bengal Flexipak Ltd Corporate Initial Rating A3 A3(Lr) ST-2 Stable 08-Aug-24

425 Bengal Gasoline and Servicing SME Initial CRAB-ME 3 - - - 13-Feb-25

426 Bengal Herbal Garden Ltd. Corporate Surveillance BBB3 - ST-3 Stable 29-Sep-24

427 Bengal Indigo Ltd Corporate Surveillance BBB3 BBB3(Lr) ST-3/ST-1 Stable 15-May-24

428 Bengal Knittex Ltd. Corporate Surveillance BBB2 BBB2(Lr) ST-1,ST-3 Stable 01-Jan-25

429 Bengal Meat Processing Industries Ltd. Corporate Surveillance A3 A3(Lr) ST-3 Stable 30-Dec-24

430 Bengal Melamine Ltd Corporate Initial Rating BBB2 BBB2(Lr) ST-3 Stable 08-Aug-24

431 Bengal Mines Development Corporation Ltd Corporate Initial Rating BBB3 BBB3(Lr) ST-3 Stable 01-Aug-24

432 Bengal NFK Textile Ltd. Corporate Surveillance A1 A1(Lr) ST-3 Stable 28-Nov-24

433 Bengal Pacific (Pvt.) Ltd. Corporate Surveillance A3 A3(Lr) ST-3 Stable 14-Dec-24

434 Bengal Plastic Pipes Limited Corporate Initial Rating A1 A1(Lr) ST-2 Stable 30-Dec-24

435 Bengal Plastics Ltd Corporate Initial Rating A1 A1(Lr) ST-2 Stable 08-Aug-24

436 Bengal Renewable Energy Ltd Corporate Initial Rating BBB1 BBB1(Lr) ST-3 Stable 08-Aug-24

437 Bengal Technological Corporation Limited Corporate Surveillance BBB3 BBB3(Lr) ST-3 Stable 15-Apr-24

438 Bengal Travels and Tours Limited Corporate Initial A3 A3(Lr) ST-3 Stable 16-Jan-25

439 Bengal Windsor Thermoplastics Ltd. Corporate Surveillance AA2 AA2(Lr) ST-2 Stable 26-Dec-24

440 Benvue International Ltd SME Initial Rating CRAB-SE 3 - - - 22-Aug-24

441 Best Lubricants Pvt Limited Corporate Initial BBB2 BBB2 (Lr) ST-3 Stable 16-Jan-25

442 Best Mercerizing Ltd SME Initial Rating CRAB-SE 3 - - - 05-Dec-24

443 Best Shirts Limited Corporate Surveillance A2 A2(Lr) ST-3 Stable 28-Sep-24

444 Best Tycoon (BD) Enterprise Ltd. Corporate Surveillance AA3 AA3(Lr) ST-2 Stable 31-May-24

445 BHAG Distribution Limited Corporate Surveillance BBB1 - - Stable 19-Feb-25

446 Bhai Bhai Auto Rice Mill SME Initial CRAB-SE 3 - - - 16-Jan-25

447 Bhai Bhai Auto Rice Mill (IBBL) Corporate Surveillance BBB3 BBB3(Lr) ST-5 Stable 27-Mar-25

448 Bhai Bhai Bohumukhi Khamar SME Surveillance CRAB-SE 3 - - - 05-Dec-24

449 Bhai Bhai Boiler and Rice Mill SME Initial CRAB-SE 3 - - - 06-Feb-25

450 Bhai Bhai Chaul & Ata Kol SME Initial Rating CRAB-SE 3 - - - 19-Dec-24

451 Bhai Bhai Enterprise SME Initial Rating CRAB-SE 3 - - - 19-Dec-24

452 Bhai Bhai Fashion SME Initial Rating CRAB-SE 3 - - - 05-Dec-24

453 Bhai Bhai Traders (Naogaon) SME Surveillance CRAB-SE 3 - - - 21-Apr-24

454 Bhai Bhai Traders SME Initial Rating CRAB-SE 3 - - - 06-Sep-24

455 Bhai Bhai Traders (Agrani Bank) SME Initial CRAB-SE 3 - - - 16-Jan-25

456 Bhairab Thai Glass SME Surveillance CRAB-SE 3 - - - 18-Oct-24

457 Bhawal Construction Corporate Surveillance BBB3 BBB3(Lr) ST-3 Stable 20-Dec-24

458 Bhawal Engineers & Construction Ltd Corporate Initial Rating BBB3 BBB3(Lr) ST-3 Stable 18-Jul-24

11
Lr-Loan rating, Pr-Project rating, SO-Structured Obligation,
 Rating Update - March 2024
(Update up to 31 March 2024)

Sl No. Name of Client/Company Company/ Rating Type Entity Loan Ratings Rating
(Alphabetical order) Rating Long Term Short Term* Outlook Validity**
Firm Type

459 Bhola Prosad SME Surveillance CRAB-SE 3 - - - 18-Oct-24

460 Bhola Traders SME Surveillance CRAB-SE 3 - - - 28-Sep-24

461 Bhuiyan & Sons SME Surveillance CRAB-SE 3 - - - 29-Jun-24

462 Bhuiyan and Co Corporate Surveillance BBB1 BBB1(Lr) ST-3 Stable 24-Jul-24

463 Bhuiyan and Haque Construction Co. SME Surveillance CRAB-SE 3 - - - 04-Dec-24

464 Bhuiyan Electrical Industries Ltd SME Initial CRAB-SE 3 - - - 30-Jan-25

465 Bhuyan Corporation SME Surveillance CRAB-SE 5 - - - 31-Jan-25

466 Bhuyan Textile Mills SME Surveillance CRAB-SE 5 - - - 31-Jan-25

467 Bibi Auto Rice and Food Limited SME Surveillance CRAB-SE 4 - - - 01-Feb-25

468 Biddut Traders SME Surveillance CRAB-SE 3 - - - 28-Sep-24

469 Big Boss Washing Ltd Corporate Surveillance BBB2 BBB2(Lr) ST-3 Stable 01-Mar-25

470 Bijoy Construction SME Initial Rating CRAB-SE 3 - - - 14-Nov-24

471 Bikrampur Potato Flakes Ind Ltd Corporate Surveillance A3 A3(Lr) ST-3 Stable 31-Jan-25

472 Bikrampur Re-Rolling Mills Ltd. Corporate Surveillance BBB1 BBB1(Lr) ST-3 Stable 31-Dec-24

473 Biky Enterprise SME Initial Rating CRAB-SE 3 - - - 06-Apr-24

474 Bilal & Brothers SME Initial Rating CRAB-SE 3 - - - 08-Aug-24

475 Bilal Trading (Pvt) Ltd Corporate Surveillance BBB1 BBB1(Lr) ST-3 Stable 30-Jun-24

476 Bilashi Fabrics SME Initial Rating CRAB-SE 3 - - - 16-May-24

477 Bimco Animal Health Ltd Corporate Surveillance BBB2 - ST-3 Stable 22-Mar-25

478 Bina Cloth Store SME Initial Rating CRAB-SE 3 - - - 30-Dec-24

479 Binimoy Trading House SME Initial Rating CRAB-SE 3 - - - 08-May-24

480 Binit Kumar Chandra SME Surveillance CRAB-SE 3 - - - 14-Nov-24

481 Binti Timber & Computer SME Initial Rating CRAB-SE 3 - - - 25-Dec-24

482 Bio Health Co. Ltd. Corporate Surveillance BBB3 - ST-3 Stable 24-Sep-24

483 Bishal Traders SME Initial Rating CRAB-SE 3 - - - 26-Sep-24

484 Bismillah Electronics SME Initial Rating CRAB-SE 3 - - - 20-Jun-24

485 Bismillah Electronics & Sales Center SME Initial Rating CRAB-SE 3 - - - 30-Oct-24

486 Bismillah Enterprise SME Initial Rating CRAB-SE 3 - - - 12-Sep-24

487 Bismillah Enterprise (Brac Bank) SME Initial Rating CRAB-SE 3 - - - 30-May-24

488 Bismillah Fish Traders SME Surveillance CRAB-SE 3 - - - 15-Aug-24

489 Bismillah Tiles Agency SME Initial CRAB-SE 3 - - - 19-Mar-25

490 Bismillah Traders SME Initial Rating CRAB-SE 3 - - - 16-May-24

491 Bismillah Traders (Agrani Bank) SME Initial Rating CRAB-SE 3 - - - 30-Dec-24

492 Biswas Traders SME Initial Rating CRAB-SE 3 - - - 19-Sep-24

493 Biswas Traders (Agrani Bank) SME Initial Rating CRAB-SE 3 - - - 25-Dec-24

494 Bithy Enterprise SME Initial Rating CRAB-SE 3 - - - 25-Jun-24

495 Bitopi International SME Surveillance CRAB-SE 3 - - - 31-Dec-24

496 BK Traders SME Initial Rating CRAB-SE 3 - - - 21-Nov-24

497 Blazon Trims & Packaging Ltd. Corporate Surveillance BBB2 BBB2(Lr) ST-3 Stable 17-Aug-24

498 Bloomingtex Ltd Corporate Surveillance BBB2 - ST-3 Stable 12-Mar-25

499 Blu International Ltd SME Initial Rating CRAB-ME 3 - - - 14-Nov-24

500 Bogdad Traders Corporate Surveillance BBB2 - ST-3 Stable 07-Mar-25

12
Lr-Loan rating, Pr-Project rating, SO-Structured Obligation,
 Rating Update - March 2024
(Update up to 31 March 2024)

Sl No. Name of Client/Company Company/ Rating Type Entity Loan Ratings Rating
(Alphabetical order) Rating Long Term Short Term* Outlook Validity**
Firm Type

501 Boishakhi Automatic Rice Mill Ltd. Corporate Surveillance BBB1 BBB1(Lr) ST-3 Stable 12-Dec-24

502 Bonafide Composite Textile Mills Limited Corporate Surveillance A3 A3(Lr) ST-3 Stable 30-Jun-24

503 Bonafide Knitting Mills Limited Corporate Surveillance A1 A1(Lr) ST-3 Stable 30-Jun-24

504 Bondhon Traders SME Initial CRAB-SE 3 - - - 16-Jan-25

505 Bondhu Library and Publication SME Surveillance CRAB-SE 3 - - - 23-Jan-25

506 Borak Trading & Carrier SME Surveillance CRAB-ME 2 - - - 24-Oct-24

507 Borobari Dairy and Food SME Initial CRAB-SE 3 - - - 05-Mar-25

508 Borotakia Construction SME Surveillance CRAB-SE 3 - - - 20-Sep-24

509 Borotakia Motors Pvt Ltd SME Surveillance CRAB-ME 4 - - - 20-Sep-24

510 BRAC University Corporate Surveillance AA3 AA3(Lr) ST-1 Stable 30-Jun-24

511 Brainstation 23 Ltd Corporate Surveillance AA3 - ST-3 Stable 15-Feb-25

512 British Bangla Chemical Ltd Corporate Surveillance BBB3 BBB3(Lr) ST-3 Stable 31-May-24

513 Broad Band Telecom Services Limited Corporate Surveillance BBB3 BBB3(Lr) ST-3 Stable 31-May-24

514 Brothers Flour Mill SME Surveillance CRAB-SE 3 - - - 19-Aug-24

515 Brothers Steel Industries SME Initial Rating CRAB-SE 3 - - - 08-Aug-24

516 Brothers Store SME Surveillance CRAB-SE 3 - - - 26-Sep-24

517 BSA Apparels Ltd Corporate Surveillance A3 A3(Lr) ST-3 Stable 05-Jun-24

518 BSA Shipping Ltd Corporate Surveillance A3 A3(Lr) ST-3 Stable 05-Jun-24

519 Build Entrepreneur Ltd. SME Surveillance CRAB-SE 3 - - - 05-Nov-24

520 Bulbul General Electronics SME Surveillance CRAB-SE 3 - - - 16-Jan-25

521 Burhan Impex SME Initial Rating CRAB-SE 3 - - - 08-Aug-24

522 Butterfly Marketing Ltd. Corporate Surveillance AA3 AA3(Lr) ST-2 Stable 30-Nov-24

523 C and C Trade International SME Initial CRAB-SE 3 - - - 06-Feb-25

524 CAB Express (BD) Ltd Corporate Initial Rating BBB2 BBB2(Lr) ST-3 Stable 08-Aug-24

525 Capital Fashions Ltd Corporate Surveillance BBB3 BBB3(Lr) ST-3 Stable 24-Apr-25

526 Car Selection and Four Star Corporate Surveillance BBB1 BBB1(Lr) ST-3 Stable 13-Mar-25

527 Car Zone SME Initial Rating CRAB-SE 3 - - - 10-Oct-24

528 Carbon Bangladesh (Pvt.) Limited Corporate Surveillance BBB1 BBB1(Lr) ST-3 Stable 30-Jun-24

529 Care Nutrition Ltd. Corporate Initial Rating BBB3 BBB3 (Lr) ST-3 Stable 26-Sep-24

530 Carry Family SME Initial Rating CRAB-SE 4 - - - 20-Jun-24

531 Cassiopea Apparels Limited Corporate Initial A3 A3(Lr) ST-3 Stable 16-Jan-25

532 Cassiopea Fashion Limited Corporate Initial A3 A3(Lr) ST-3 Stable 16-Jan-25

533 CDC Concrete Limited SME Surveillance CRAB-SE 3 - - - 06-Sep-24

534 Celluler Mobile Pte Ltd Corporate Surveillance BB1 BB1(Lr) ST-4 Stable 28-Feb-25

535 CEM Ready Mix Concrete Ltd SME Surveillance CRAB-ME 3 - - - 29-Dec-24

536 CEM UPVC Limited SME Surveillance CRAB-SE 3 - - - 23-Jan-25

537 Centax Fashion & its sister concern SME Initial Rating CRAB-ME 3 - - - 26-Sep-24

538 Ceramic World SME Surveillance CRAB-SE 3 - - - 09-Nov-24

539 Chacha Vatiza Traders SME Initial Rating CRAB-SE 3 - - - 19-Dec-24

540 Chand Dyeing & Processing Industries (Pvt) Limited SME Initial Rating CRAB-SE 3 - - - 25-Jun-24

541 Chandradwip Construction SME Surveillance CRAB-SE 3 - - - 19-Feb-25

542 Charm Fashion Corporate Surveillance BBB1 BBB1(Lr) ST-3 Stable 31-Dec-24

13
Lr-Loan rating, Pr-Project rating, SO-Structured Obligation,
 Rating Update - March 2024
(Update up to 31 March 2024)

Sl No. Name of Client/Company Company/ Rating Type Entity Loan Ratings Rating
(Alphabetical order) Rating Long Term Short Term* Outlook Validity**
Firm Type

543 Charu Ceramic Industries Limited Corporate Surveillance A3 A3(Lr) ST-3 Stable 30-Sep-24

544 Chawa Enterprise SME Initial Rating CRAB-SE 3 - - - 01-Aug-24

545 Chem Pure Bangladesh Ltd. SME Surveillance CRAB-SE 3 - - - 21-Aug-24

546 Chens Crop Science Bangladesh Ltd Corporate Surveillance BBB1 BBB1(Lr) ST-3 Stable 24-May-24

547 Cherry Knitwear Ltd Corporate Surveillance BBB1 - ST-3 Stable 31-Mar-25

548 Chint Bangladesh Ltd. SME Initial Rating CRAB-SE 4 - - - 26-Sep-24

549 Chittagong Accessories SME Surveillance CRAB-SE 3 - - - 15-Jun-24

550 Chittagong Knitwears (Pvt) Ltd Corporate Surveillance A3 A3(Lr) ST-3 Stable 30-Jun-24

551 Chittagong Waste Treatment Plant Limited SME Surveillance CRAB-ME 4 - - - 24-May-24

552 Chonchol Enterprise SME Initial Rating CRAB-SE 3 - - - 24-Oct-24

553 Chowdhury Enterprise SME Initial Rating CRAB-SE 3 - - - 14-Nov-24

554 Chowdhury Marcerize Process Mill SME Surveillance CRAB-SE 3 - - - 22-May-24

555 Chung Hua Aluminium Industry Ltd Corporate Surveillance A3 A3(Lr) ST-3 Stable 21-May-24

556 Circle Fintech Ltd. SME Surveillance CRAB-SE 3 - - - 20-Nov-24

557 City Commodities SME Initial Rating CRAB-SE 3 - - - 29-Apr-24

558 City Dal Mills Ltd Corporate Surveillance AA1 AA1(Lr) ST-1 Stable 28-Feb-25

559 City Feed Products Ltd Corporate Surveillance AA1 AA1(Lr) ST-1 Stable 28-Feb-25

560 City Foils Ltd. SME Surveillance CRAB-SE 3 - - - 28-Sep-24

561 City Light Trading SME Surveillance CRAB-SE 3 - - - 14-Sep-24

562 City Navigations Ltd Corporate Surveillance AA1 AA1(Lr) - Stable 28-Feb-25

563 City Seed Crushing Industries Ltd Corporate Surveillance AAA AAA(Lr) ST-1 Stable 28-Feb-25

564 City Sugar Industries Ltd Corporate Surveillance AAA AAA(Lr) ST-1 Stable 28-Feb-25

565 City Trading Corporation SME Initial Rating CRAB-SE 3 - - - 13-Jun-24

566 Civic Apparels Limited Corporate Surveillance A3 A3(Lr) ST-3 Stable 20-Dec-24

567 Classic Dye-Chem Company SME Surveillance CRAB-SE 3 - - - 15-May-24

568 Cobite Computers SME Surveillance CRAB-SE 3 - - - 26-Dec-24

569 College Fashion SME Initial Rating CRAB-SE 3 - - - 01-Aug-24

570 Color Vision SME Surveillance CRAB-SE 3 - - - 27-Mar-25

571 Combined Food & Cold Storage Limited Corporate Surveillance A2 A2(Lr) ST-3 Stable 13-Jun-24

572 Comfit Composite Knit Ltd Corporate Surveillance AA3 AA3(Lr) ST-2 Stable 04-Mar-25

573 Communication Bangla Ltd SME Surveillance CRAB-SE 3 - - - 30-Apr-24

574 Communications Technology SME Surveillance CRAB-SE 4 - - - 26-Feb-25

575 Computer City Technology Limited SME Surveillance CRAB-SE 3 - - - 19-Feb-25

576 Computer Solutions SME Initial Rating CRAB-SE 3 - - - 30-May-24

577 Computer Village SME Surveillance CRAB-SE 3 - - - 29-Mar-25

578 Comtrade Enterprise SME Surveillance CRAB-SE 2 - - - 25-Feb-25

579 Concorde Knitting & Dyeing Industries Ltd Corporate Surveillance BBB2 BBB2Lr) ST-3 Stable 29-Jun-24

580 Confidence Batteries Ltd Corporate Surveillance A3 A3(Lr) ST-3 Stable 30-Jun-24

581 Confidence Cement Dhaka Limited Project Initial Rating A3(Pr) - - - 12-Sep-24

582 Confidence Cement Ltd Corporate Surveillance AA3 AA3(Lr) ST-2 Stable 30-Jun-24

583 Confidence Infrastructure Limited Corporate Surveillance AA2 AA2(Lr) ST-2 Stable 15-May-24

584 Confidence Power Bogra Unit 2 Ltd Corporate Surveillance AA1 AA1(Lr) ST-2 Stable 30-Nov-24

14
Lr-Loan rating, Pr-Project rating, SO-Structured Obligation,
 Rating Update - March 2024
(Update up to 31 March 2024)

Sl No. Name of Client/Company Company/ Rating Type Entity Loan Ratings Rating
(Alphabetical order) Rating Long Term Short Term* Outlook Validity**
Firm Type

585 Confidence Power Bogra Ltd. Corporate Surveillance AA1 AA1(Lr) ST-2 Stable 30-Nov-24

586 Confidence Power Holdings Ltd. Corporate Surveillance AA1 AA1(Lr) ST-2 Stable 30-Nov-24

587 Confidence Power Rangpur Ltd Corporate Surveillance AA2 AA2(Lr) ST-2 Stable 30-Nov-24

588 Confidence Steel Building Technologies Limited SME Surveillance CRAB-SE 3 - - - 16-Jan-25

589 Confidence Trade Ltd Corporate Surveillance A3 A3(Lr) ST 3 Stable 15-Jun-24

590 Construction Material Suppliers SME Initial Rating CRAB-SE 3 - - - 05-Dec-24

591 Construction Tech Bangladesh SME Initial CRAB-SE 3 - - - 06-Feb-25

592 Consumer Dye Chem Services SME Surveillance CRAB-SE 3 - - - 29-Dec-24

593 Continental Garments Industries (Pvt.) Ltd. Corporate Surveillance A2 A2(Lr) ST-3 Stable 28-Nov-24

594 Convoy Service SME Surveillance CRAB-SE 3 - - - 18-Oct-24

595 Corbel Chemical Industries Limited SME Surveillance CRAB-ME 3 - - - 20-Dec-24

596 Corbel International Limited SME Surveillance CRAB-ME 3 - - - 20-Dec-24

597 Cornea Semi Auto Rice Mill SME Initial Rating CRAB-SE 3 - - - 25-Dec-24

598 Cosmopolitan Industries Pvt. Ltd. Corporate Surveillance AA1 AA1(Lr) ST-2 Stable 31-Dec-24

599 Cosmos Enterprise Corporate Surveillance BBB3 BBB3(Lr) ST-3 Stable 15-Nov-24

600 Cotton Fiber International SME Surveillance CRAB-SE 3 - - - 21-Aug-24

601 Cottonex Fashion Limited Corporate Initial Rating BBB3 BBB3(Lr) ST-3 Stable 17-Oct-24

602 Country Boy (PVT) Ltd SME Surveillance CRAB-SE 3 - - - 25-Jul-24

603 CP Bangladesh Co Ltd Corporate Surveillance AA2 AA2(Lr) ST-2 Stable 30-Sep-24

604 Crocarise Garden SME Initial Rating CRAB-SE 3 - - - 19-Sep-24

605 Crony Apparels Ltd Corporate Surveillance BBB1 BBB1(Lr) ST-4 Stable 19-Feb-25

606 Crossroad Motors SME Initial Rating CRAB-SE 3 - - - 10-Oct-24

607 Crown Cement Concrete and Building Products Limited Corporate Surveillance BBB2 BBB2(Lr) ST-3 Stable 31-May-24

608 Crown Cement PLC (M.I. Cement Factory Ltd.) Corporate Surveillance AA1 AA1(Lr) ST-2 Stable 31-Dec-24

609 Crown Enterprise Corporate Surveillance BBB3 BBB3(Lr) ST-3 Stable 20-Jun-24

610 Crown Lub SME Surveillance CRAB-SE 3 - - - 19-Sep-24

611 Crown Mariners Limited Corporate Surveillance A2 A2(Lr) ST-3 Stable 31-May-24

612 Crown Metal Merchandising Corporate Surveillance BBB1 BBB1(Lr) ST-3 Stable 21-Jul-24

613 Crown Polymer Bagging Limited Corporate Surveillance BBB1 BBB1(Lr) ST-3 Stable 31-May-24

614 Crown Transportation and Logistics Limited Corporate Surveillance BBB2 BBB2(Lr) ST-3 Stable 31-May-24

615 Croydon Kowloon Designs Ltd Corporate Surveillance A3 A3(Lr) ST-3 Stable 31-May-24

616 Crymson Glory SME Surveillance CRAB-SE 3 - - - 25-Jan-25

617 CS Lee Knit Composite Ltd. SME Initial Rating CRAB-SE 3 - - - 19-Sep-24

618 CSF Garments Ltd Corporate Surveillance BBB3 BBB3(Lr) ST-3 Stable 07-Apr-24

619 Cutting Edge Garments Ltd Corporate Surveillance A1 A1(Lr) ST-3 Stable 23-Jan-25

620 CVO Petrochemical Refinery Ltd. Corporate Surveillance BBB2 - ST-3 Stable 30-Dec-24

621 Cyber Soft Technology SME Initial CRAB-SE 3 - - - 19-Feb-25

622 D and S Pretty Fashions Ltd Corporate Surveillance A1 A1(Lr) ST-3 Stable 19-Mar-25

623 D S Fashion Ltd Corporate Surveillance BBB1 - ST-3 Stable 31-Mar-25

624 Daeyang Industrial Construction Co. Limited Corporate Initial Rating BBB1 BBB1(Lr) ST-3 Stable 12-Sep-24

625 Daeyu Bangladesh Ltd. Corporate Surveillance BBB2 BBB2(Lr) ST-3 Stable 31-Jul-24

626 Daffodil Electric Company SME Surveillance CRAB-ME 3 - - - 28-Dec-24

15
Lr-Loan rating, Pr-Project rating, SO-Structured Obligation,
 Rating Update - March 2024
(Update up to 31 March 2024)

Sl No. Name of Client/Company Company/ Rating Type Entity Loan Ratings Rating
(Alphabetical order) Rating Long Term Short Term* Outlook Validity**
Firm Type

627 Daffodil Electric Company Limited SME Initial CRAB-SE 3 - - - 12-Mar-25

628 Daizi Engineering & Construction Ltd SME Initial Rating CRAB-SE 4 - - - 08-Aug-24

629 Dakota Grains Limited SME Initial CRAB-SE 3 - - - 05-Mar-25

630 DAL Knitwear Limited Corporate Surveillance A2 A2(Lr) ST-3 Stable 30-Jun-24

631 Danish Condensed Milk Bangladesh Ltd. Corporate Surveillance AA2 AA2(Lr) ST-2 Stable 26-Dec-24

632 Danish Foods Ltd Corporate Surveillance A1 A1(Lr) ST 3 Stable 11-Jul-24

633 Danish Milk Bangladesh Ltd Corporate Surveillance A2 BBB1(Lr) ST-3 Stable 22-Mar-25

634 Danish Multipurpose Farm Ltd Corporate Initial Rating BBB2 BBB2(Lr) ST-3 Stable 29-Apr-24

635 Danys Knitwear Ltd SME Surveillance CRAB-ME 2 - - - 26-Aug-24

636 Darning Bajaj Center SME Initial Rating CRAB-SE 3 - - - 29-Apr-24

637 Darussalam Enterprise Corporate Surveillance BB1 BB1(Lr) - Stable 01-Feb-25

638 Data Solution Ltd. SME Surveillance CRAB-SE 3 - - - 13-Dec-24

639 Datastar Technology Industries Ltd. SME Initial Rating CRAB-SE 3 - - - 25-Dec-24

640 Day Apparels Limited Corporate Initial Rating A3 A3(Lr) ST-1,ST-3 Stable 25-Dec-24

641 Day Fashions Limited Corporate Initial Rating A3 A3(Lr) ST-1,ST-3 Stable 25-Dec-24

642 Dazzling Dresses Ltd Corporate Surveillance A2 - ST-3 Stable 31-Jan-25

643 DCL Block Corporate Initial Rating BBB3 BBB3(Lr) ST-3 Stable 10-Oct-24

644 Debidwar Medical Center SME Initial Rating CRAB-SE 3 - - - 28-Nov-24

645 Deen Mohammad Shipping Line Ltd SME Surveillance CRAB-SE 4 - - - 30-Apr-24

646 Deep Traders SME Initial Rating CRAB-SE 3 - - - 07-Nov-24

647 Dekko Knitwears Ltd Corporate Surveillance AA3 - ST-2 Stable 31-Jan-25

648 Delco Engineering SME Surveillance CRAB-SE 3 - - - 30-Nov-24

649 Delco Engineering Ltd. SME Surveillance CRAB-SE 3 - - - 30-Nov-24

650 Delcot Limited Corporate Initial Rating BBB1 BBB1(Lr) ST-3 Stable 30-May-24

651 Delmon Trade International SME Surveillance CRAB-SE 3 - - - 27-Nov-24

652 Delta Hospital Limited Corporate Surveillance A3 A3(Lr) ST-3 Stable 30-Jun-24

653 Delwar and Brothers SME Surveillance CRAB-SE 3 - - - 30-Jun-24

654 Delwar Hossain SME Surveillance CRAB-SE 3 - - - 06-Sep-24

655 Denim Attires Limited Corporate Surveillance BBB1 BBB1(Lr) ST-3 Stable 31-Mar-24

656 Desh Agro Industries SME Surveillance CRAB-ME 3 - - - 06-Mar-25

657 Desh Enterprise SME Initial CRAB-SE 3 - - - 06-Feb-25

658 Desh Pharmaceuticals (Pvt) Ltd. SME Surveillance CRAB-SE 3 - - - 28-Dec-24

659 Desh Shipbuilding & Engineering Limited Corporate Surveillance BBB3 BBB3(Lr) ST-3 Stable 15-Sep-24

660 Design Collection SME Surveillance CRAB-SE 3 - - - 10-Dec-24

661 Development Construction Limited Corporate Surveillance BBB3 BBB3(Lr) ST-3 Stable 11-Mar-25

662 Devine Intimates Ltd. Corporate Surveillance A2 A2(Lr) ST-2 Stable 31-Dec-24

663 DGM Chaul Kall SME Initial CRAB-SE 3 - - - 30-Jan-25

664 Dhaka Assembly of God Church and Bethel Assembly of GodCorporate

Church Surveillance A3 A3(Lr) - Stable 15-Mar-25

665 Dhaka Exim Trade International SME Initial Rating CRAB-SE 3 - - - 30-Oct-24

666 Dhaka Mercantile Corporation Ltd SME Initial CRAB-SE 3 - - - 30-Jan-25

667 Dia Enterprise SME Initial Rating CRAB-SE 3 - - - 24-Oct-24

668 Diamond Cement Ltd. Corporate Surveillance AA2 AA2(Lr) ST-2 Stable 31-Dec-24

16
Lr-Loan rating, Pr-Project rating, SO-Structured Obligation,
 Rating Update - March 2024
(Update up to 31 March 2024)

Sl No. Name of Client/Company Company/ Rating Type Entity Loan Ratings Rating
(Alphabetical order) Rating Long Term Short Term* Outlook Validity**
Firm Type

669 Diamond Chicks Ltd Corporate Initial Rating BB2 BB2(Lr) ST-4 Stable 12-Apr-24

670 Diamond Egg Ltd Corporate Initial Rating BB2 BB2(Lr) ST-4 Stable 12-Apr-24

671 Diamond Feeds & Grains Ltd. Corporate Surveillance BB2(Pr) BB2(Lr) - Stable 04-Dec-24

672 Diamond Knitwear Limited SME Initial Rating CRAB-ME 3 - - - 24-May-24

673 Diamond Steel Products Co. (Pvt.) Limited Corporate Surveillance A1 A1(Lr) ST-2 Stable 30-Jun-24

674 Diamond World Corporate Surveillance BBB1 BBB1(Lr) ST-3 Stable 31-Oct-24

675 Diba Rathry CNG Filling Station SME Surveillance CRAB-SE 3 - - - 28-Nov-24

676 Dibbo Fashions Ltd SME Surveillance CRAB-SE 3 - - - 31-Mar-24

677 Didar Tiles & Sanitary SME Initial Rating CRAB-SE 2 - - - 30-Aug-24

678 Diganta Sweaters Ltd Corporate Initial Rating A2 A2(Lr) ST-3 Stable 18-Jul-24

679 Digital Accessories Industries Limited SME Initial Rating CRAB-SE 3 - - - 06-Jun-24

680 Digital Power & Associates Ltd Corporate Surveillance A2 A2(Lr) ST-3 Stable 31-Jul-24

681 Digital Sign Valley & its Sister Concern SME Surveillance CRAB-SE 2 - - - 16-May-24

682 Dilu Enterprise SME Surveillance CRAB-SE 3 - - - 30-Oct-24

683 Dird Engineering Ltd Corporate Initial Rating BBB2 BBB2(Lr) ST-3 Stable 05-Dec-24

684 Dird Polytex Limited Corporate Initial BBB2 BBB2(Lr) ST-3 Stable 23-Jan-25

685 Divine Design Ltd. Corporate Surveillance A2 A2(Lr) ST-2 Stable 31-Dec-24

686 Divine Trading Company Corporate Surveillance BBB3 - ST-3 Stable 08-Mar-25

687 Divine Trims Ltd SME Initial Rating CRAB-SE 3 - - - 25-Jul-24

688 DK Development Constructions Ltd Corporate Initial Rating BBB3(Pr) - - - 06-Dec-24

689 DK Enterprise SME Initial CRAB-SE 3 - - - 16-Jan-25

690 Dola Traders SME Initial Rating CRAB-SE 3 - - - 24-Oct-24

691 Dollar Enterprise SME Surveillance CRAB-SE 3 - - - 28-Sep-24

692 Dolna Chaul Kall SME Initial Rating CRAB-SE 3 - - - 10-Oct-24

693 Dongyi Sourcing Ltd. Corporate Surveillance BBB1 BBB1(Lr) ST-3 Stable 08-Sep-24

694 Dr. Shahid Eye Hospital SME Initial Rating CRAB-SE 3 - - - 30-Dec-24

695 Dragon Steel Plant Corporate Surveillance BBB2 BBB2(Lr) ST-3 Stable 28-Jun-24

696 Duha Fashion SME Initial Rating CRAB-SE 3 - - - 30-Aug-24

697 Dui Tara Khaddo Vander (Baneswar) SME Surveillance CRAB-SE 3 - - - 10-Feb-25

698 Dui Vai Auto Rice Mill SME Surveillance CRAB-SE 3 - - - 22-Mar-25

699 Dulhan Shopping Mall SME Initial Rating CRAB-SE 3 - - - 19-Sep-24

700 Dulon Products SME Initial Rating CRAB-SE 3 - - - 08-May-24

701 Dutch Bangla Power & Associates Ltd. Corporate Surveillance AA3 AA3(Lr) ST-3 Stable 31-Aug-24

702 Dynamic Steel SME Initial Rating CRAB-SE 3 - - - 07-Nov-24

703 Dynamic Sun Energy Private Limited Project Surveillance A3(Pr) - - - 30-Aug-24

704 E R International SME Initial CRAB-SE 3 - - - 13-Feb-25

705 Earthmoving Construction Limited SME Initial Rating CRAB-SE 3 - - - 12-Sep-24

706 Earthmoving Solution Limited SME Surveillance CRAB-ME 3 - - - 11-Apr-24

707 East West Trading Co. SME Initial Rating CRAB-SE 3 - - - 06-Sep-24

708 Eastern Hardware SME Surveillance CRAB-SE 3 - - - 09-Mar-25

709 Eastern Logistics Ltd. Corporate Surveillance BBB1 BBB1(Lr) ST-3 Stable 11-Dec-24

710 Eastern Medical College & Hospital Ltd Corporate Surveillance BBB1 BBB1(Lr) ST-3 Stable 31-May-24

17
Lr-Loan rating, Pr-Project rating, SO-Structured Obligation,
 Rating Update - March 2024
(Update up to 31 March 2024)

Sl No. Name of Client/Company Company/ Rating Type Entity Loan Ratings Rating
(Alphabetical order) Rating Long Term Short Term* Outlook Validity**
Firm Type

711 Eastern University Corporate Surveillance BBB3 BBB3(Lr) - Stable 23-Jan-25

712 Echo Cotton Mills Ltd Corporate Initial Rating BBB2 BBB2 (Lr) ST-3 Stable 12-Apr-24

713 Eco Aid Foundation SME Initial CRAB-SE 3 - - - 06-Feb-25

714 Ecom Trade International SME Surveillance CRAB-SE 3 - - - 29-Sep-24

715 Ecowood Ltd. SME Surveillance CRAB-SE 5 - - - 18-Dec-24

716 Effect Builders & Housing Limited SME Initial Rating CRAB-SE 5 - - - 08-May-24

717 Eifa Steel & Cement Centre SME Surveillance CRAB-SE 3 - - - 30-Dec-24

718 Ejafa Trading SME Surveillance CRAB-SE 3 - - - 24-Mar-25

719 Ekata Automatic Rice Mill SME Initial CRAB-SE 3 - - - 06-Feb-25

720 Elahinoor Tea Company Ltd Corporate Initial Rating BBB3 - ST-3 Stable 01-Aug-24

721 Elan Tea SME Initial Rating CRAB-SE 3 - - - 08-May-24

722 E-Learning & Earning Ltd. SME Initial Rating CRAB-SE 3 - - - 30-Aug-24

723 Electro Mart Limited Corporate Surveillance BBB1 - ST-3 Stable 28-Feb-25

724 Elegance Orientale Limited Corporate Initial Rating BB3 BB3(Lr) ST-4 Stable 14-Nov-24

725 Elegant Accessories Ltd Corporate Initial BBB1 - ST-3 Stable 13-Feb-25

726 Elegant Washing Plant Limited Corporate Initial BBB3 BBB3(Lr) ST-3 Stable 16-Jan-25

727 Elham International Ltd Corporate Surveillance BBB3 BBB3(Lr) ST-3 Stable 30-Dec-24

728 Elite Printing and Packages Limited Corporate Surveillance BBB2 BBB2(Lr) ST-3 Stable 17-Jun-24

729 Elite Super Plastic Industries Pvt Ltd Corporate Surveillance BBB1 BBB1(Lr) ST-1,ST-3 Stable 15-Dec-24

730 Elite Trading Limited Corporate Surveillance BBB3 BBB3(Lr) ST-3 Stable 29-Jun-24

731 Elson Consumer Products Limited Corporate Initial Rating A3 A3(Lr) ST-2 Stable 20-Jun-24

732 EMA Services Private Ltd Corporate Initial Rating A3 A3(Lr) ST-1 Stable 12-Apr-24

733 Emem System Limited Corporate Surveillance BBB3 BBB3(Lr) ST-4 Stable 28-Jun-24

734 Emerald Trading Ltd. Corporate Surveillance BBB1 BBB1(Lr) ST-3 Stable 31-Dec-24

735 Emran LPG Autogas Filling Station SME Surveillance CRAB-SE 3 - - - 19-Feb-25

736 Enam Feed Mill SME Surveillance CRAB-SE 3 - - - 26-Nov-24

737 Enayetpur Spinning Mills Ltd Corporate Surveillance BBB1 BBB1(Lr) ST-3 Stable 28-Feb-25

738 Energon Renewables (BD) Ltd Corporate Surveillance A3 A3(Lr) ST 3 Stable 25-Jul-24

739 Energy Power Electric Company Ltd SME Initial Rating CRAB-SE 3 - - - 19-Dec-24

740 Energy Tech SME Surveillance CRAB-SE 3 - - - 04-Dec-24

741 Energypac Power Venture Ltd. Corporate Surveillance A2 A2(Lr) ST-3 Stable 30-Nov-24

742 Enjoy Telecom Center & Electronics SME Surveillance CRAB-SE 3 - - - 29-Jun-24

743 Enroute International Ltd Corporate Surveillance A2 A2(Lr) ST-3 Stable 26-Apr-24

744 Envotech Aviation Ltd. Corporate Surveillance A2 - ST-3 Stable 31-Oct-24

745 Envoy Textiles Ltd Corporate Surveillance AA1 AA1(Lr) ST-1 Stable 31-Dec-24

746 EOS Textile Mills Ltd Corporate Surveillance A2 A2(Lr) ST-3 Stable 28-Feb-25

747 Epic Energy Co SME Surveillance CRAB-SE 3 - - - 20-Dec-24

748 Epic Garments & Manufacturing Co. Ltd. Corporate Surveillance AA1 AA1(Lr) ST-2 Stable 31-Dec-24

749 EPV Chittagong Limited Corporate Surveillance A3 A3(Lr) ST-3 Stable 15-Jun-24

750 EPV Thakurgaon Ltd. Corporate Surveillance A2 A2(Lr) ST-3 Stable 31-Dec-24

751 Epyllion Fabrics Ltd. Corporate Surveillance AA2 AA2(Lr) ST-2 Stable 31-Dec-24

752 Epyllion Holdings Ltd Corporate Surveillance A2 - ST-3 Stable 31-Jan-25

18
Lr-Loan rating, Pr-Project rating, SO-Structured Obligation,
 Rating Update - March 2024
(Update up to 31 March 2024)

Sl No. Name of Client/Company Company/ Rating Type Entity Loan Ratings Rating
(Alphabetical order) Rating Long Term Short Term* Outlook Validity**
Firm Type

753 Epyllion Knitex Ltd. Corporate Surveillance AA3 AA3(Lr) ST-2 Stable 31-Dec-24

754 Epyllion Knitwears Ltd. Corporate Surveillance AA2 AA2(Lr) ST-2 Stable 31-Dec-24

755 Epyllion Limited Corporate Surveillance AA3 AA3(Lr) ST-2 Stable 31-Jan-25

756 Epyllion Style Ltd. Corporate Surveillance AA2 AA2(Lr) ST-2 Stable 31-Dec-24

757 Epyllion Washing Ltd Corporate Surveillance A3 - ST-3 Stable 31-Jan-25

758 Eque Paper Mills Ltd. Corporate Surveillance BBB1 BBB1(Lr) ST-3 Stable 15-Nov-24

759 ER Steel House SME Surveillance CRAB-SE 3 - - - 19-Feb-25

760 Era Constructio Corporate Surveillance BBB2 - ST-3 Stable 01-Feb-25

761 Eriq Tech SME Initial CRAB-SE 3 - - - 26-Mar-25

762 Esack Brothers Industries Ltd Corporate Initial BB1 B1(Lr), BB1(Lr)ST-3 Stable 16-Jan-25

763 ESAR Paper Industries Ltd SME Initial Rating CRAB-SE 4 - - - 05-Apr-24

764 Esha Traders SME Surveillance CRAB-SE 3 - - - 02-Dec-24

765 ESKE Clothing Limited Corporate Surveillance BBB3 BBB3(Lr) ST-3 Stable 20-Dec-24

766 Esquire Accessories Limited Corporate Surveillance A1 A1(Lr) ST-3 Stable 30-Jun-24

767 Esquire Dyeing Industries Limited Corporate Surveillance AA2 AA2(Lr) ST-2 Stable 30-Jun-24

768 Esquire Electronics Ltd Corporate Surveillance AA2 AA2(Lr) ST-3 Stable 30-Jun-24

769 Esquire Knit Composite PLC Corporate Surveillance AA3 AA3(Lr) ST-3 Stable 25-Oct-24

770 Esquire Plastics Ltd. Corporate Surveillance BBB1 BBB1(Lr) ST-3 Stable 21-Sep-24

771 Esquire Sweater Ltd. Corporate Surveillance BBB1 BBB1(Lr) ST-3 Stable 31-Dec-24

772 Etasia Interlinings Ltd Corporate Surveillance A1 - ST-3 Stable 01-Mar-25

773 Ety Pharmacy SME Surveillance CRAB-SE 3 - - - 12-Feb-25

774 Euro Bangla Ceramics Ltd Corporate Surveillance BB3 BB3(Lr) - Stable 06-Sep-24

775 Euro Jeans Limited Corporate Initial Rating BBB2 BBB2(Lr) ST-3 Stable 20-Jun-24

776 Europa Cold Storage Limited Corporate Surveillance A2 A2(Lr) ST-3 Stable 13-Jun-24

777 Eutech Engineering Construction Ltd. SME Surveillance CRAB-SE 3 - - - 09-Aug-24

778 Eutech Systems Limited SME Surveillance CRAB-SE 3 - - - 28-Aug-24

779 Ever-Chem International SME Initial Rating CRAB-SE 3 - - - 12-Sep-24

780 Evergreen Crop Care Ltd. SME Surveillance CRAB-ME 3 - - - 25-Aug-24

781 Everlife Battery Recycling & Manufacturing Company Ltd Corporate Initial Rating BBB3 BBB3(Lr) ST-4 Stable 06-Sep-24

782 Excel Telecom Pvt Ltd. Corporate Surveillance A1 A1(Lr) ST-2 Stable 31-Dec-24

783 Experience Design Ltd. Corporate Surveillance BBB3 BBB3(Lr) ST-3 Stable 22-Nov-24

784 Expolink Resources Ltd SME Surveillance CRAB-SE 3 - - - 07-Mar-25

785 Expose Trading Co. SME Surveillance CRAB-SE 3 - - - 10-Dec-24

786 Extent Design and Development SME Initial CRAB-SE 3 - - - 26-Mar-25

787 F R Orbit International SME Surveillance CRAB-SE 3 - - - 18-Oct-24

788 Fab-Con Textile Mills Ltd Corporate Surveillance A2 A2(Lr) ST-3 Stable 31-Mar-24

789 Fahim Stone House SME Surveillance CRAB-SE 3 - - - 26-May-24

790 Fair AD Bangladesh SME Initial Rating CRAB-SE 3 - - - 26-Sep-24

791 Fair Agro Chemical Services Ltd. SME Surveillance CRAB-SE 2 - - - 30-Aug-24

792 Fair Apparels Limited Corporate Surveillance BBB2 BBB2(Lr) ST-3 Stable 23-Sep-24

793 Fair Deal SME Surveillance CRAB-SE 3 - - - 04-Dec-24

794 Faisal Enterprise SME Initial Rating CRAB-SE 3 - - - 18-Jul-24

19
Lr-Loan rating, Pr-Project rating, SO-Structured Obligation,
 Rating Update - March 2024
(Update up to 31 March 2024)

Sl No. Name of Client/Company Company/ Rating Type Entity Loan Ratings Rating
(Alphabetical order) Rating Long Term Short Term* Outlook Validity**
Firm Type

795 Fakhor Uddin Ali Ahmed Corporate Surveillance A1 - ST-3 Stable 12-Feb-25

796 Fakir Apparels Ltd. Corporate Surveillance AA1 AA1(Lr) ST-1 Stable 31-Dec-24

797 Fakir Eco Knitwears Ltd Corporate Surveillance A2 - ST-3 Stable 30-Jan-25

798 Fakir Fashion Ltd. Corporate Surveillance AA1 AA1(Lr) ST-1 Stable 31-Dec-24

799 Fakir Knitwears Ltd Corporate Surveillance AA1 - ST-1 Stable 31-Dec-24

800 Famous Steel & Re-Rolling Mills Ltd SME Surveillance CRAB-ME 3 - - - 14-Jun-24

801 Fancy Fashion Sweaters Ltd Corporate Surveillance A1 A1(Lr) ST-2 Stable 28-Dec-24

802 Farazi Traders SME Surveillance CRAB-SE 3 - - - 29-Jun-24

803 Farees Construction Ltd. SME Surveillance CRAB-SE 3 - - - 30-Dec-24

804 Farheen Auto Flour Mill SME Surveillance CRAB-SE 3 - - - 19-Sep-24

805 Farid Uddin Pathan SME Initial Rating CRAB-SE 3 - - - 21-Nov-24

806 Farida Electronics Corporate Initial Rating BBB3 BBB3(Lr) ST-3 Stable 24-May-24

807 Farrell Fashions Ltd. Corporate Surveillance BBB3 BBB3(Lr) ST-4 Stable 19-Sep-24

808 Faruk Enterprise SME Surveillance CRAB-ME 3 - - - 12-Nov-24

809 Faruk Printing & Packaging Industries SME Initial Rating CRAB-SE 3 - - - 29-Apr-24

810 Faruk Traders (DBL) SME Surveillance CRAB-SE 3 - - - 24-Mar-25

811 Faruk Traders SME Initial Rating CRAB-SE 3 - - - 30-Dec-24

812 Fashion Chemicals Limited Corporate Initial Rating BBB3 BBB3(Lr) ST-3 Stable 20-Jun-24

813 Fashion Flash Limited Corporate Surveillance BBB1 BBB1(Lr) ST-3 Stable 31-Mar-24

814 Fashion Jeans Limited Corporate Initial Rating BBB2 BBB2(Lr) ST-3 Stable 06-Sep-24

815 Fashion Optics SME Initial Rating CRAB-SE 3 - - - 24-May-24

816 Fashion Step Ltd Corporate Initial Rating A3 - ST-3 Stable 25-Jul-24

817 Fashion Watch Ltd Corporate Surveillance BBB2 - ST-3 Stable 31-Jan-25

818 Faststream Logistics Ltd Corporate Surveillance BBB3 BBB3(Lr) ST-3 Stable 10-Feb-25

819 Fatema Bostraloy SME Initial Rating CRAB-SE 3 - - - 05-Dec-24

820 Fatema Chaul Kall SME Initial CRAB-SE 3 - - - 13-Feb-25

821 Fatema Enterprise SME Initial CRAB-SE 3 - - - 31-Jan-25

822 Fatema Hardware & Electric Paints SME Initial Rating CRAB-SE 3 - - - 06-Sep-24

823 Fatema Shoes SME Surveillance CRAB-SE 3 - - - 18-Oct-24

824 Fawn International SME Surveillance CRAB-ME 2 - - - 20-Nov-24

825 Faysal Textile Mills SME Surveillance CRAB-SE 4 - - - 28-Dec-24

826 Fazle Elahi SME Initial Rating CRAB-SE 3 - - - 16-May-24

827 Fazlul Haque Chaul Kall SME Initial Rating CRAB-SE 3 - - - 25-Dec-24

828 FCI BD Ltd Corporate Surveillance A2 - ST-2 Stable 13-Feb-25

829 Felix Fashions Ltd Corporate Surveillance BBB3 BBB3(Lr) ST-4 Stable 31-Dec-24

830 Feni Construction And Supplier Corporate Surveillance BBB3 BBB3(Lr) ST-3 Stable 28-Dec-24

831 Ferdous Iron Store SME Initial Rating CRAB-SE 3 - - - 28-Nov-24

832 Feroz Construction Ltd SME Surveillance CRAB-SE 3 - - - 18-Jul-24

833 Ferro Alloy Co. (Pvt.) Limited Corporate Surveillance AA3 AA3(Lr) ST-2 Stable 30-Jun-24

834 Fibre@Home Limited Corporate Surveillance AA3 AA3(Lr) ST-2 Stable 30-Apr-24

835 Fine Tex Knitwears Ltd Corporate Surveillance BBB3 BBB3(Lr) ST-3 Stable 25-Apr-25

836 Finlay Properties Ltd Corporate Surveillance A3 A3(Lr) ST-3 Stable 15-May-24

20
Lr-Loan rating, Pr-Project rating, SO-Structured Obligation,
 Rating Update - March 2024
(Update up to 31 March 2024)

Sl No. Name of Client/Company Company/ Rating Type Entity Loan Ratings Rating
(Alphabetical order) Rating Long Term Short Term* Outlook Validity**
Firm Type

837 Five Star Ice & Cold Storage Limited Corporate Surveillance A2 A2(Lr) ST-3 Stable 13-Jun-24

838 Fixway SME Initial Rating CRAB-SE 3 - - - 18-Jul-24

839 Fiza & Co (Pvt) Ltd. Corporate Surveillance BBB1 BBB1(Lr) ST-3 Stable 28-Nov-24

840 FKL Spinning Limited Corporate Surveillance A3(Pr) - - - 15-Jun-24

841 Flamingo CNG Filling Conversion and Highway Inn SME Initial CRAB-SE 3 - - - 16-Jan-25

842 Flora Limited Corporate Surveillance A3 A3(Lr) ST-3 Stable 10-Dec-24

843 FloSolar Solutions Limited SME Initial Rating CRAB-SE 3 - - - 24-Oct-24

844 FloWater Solutions Ltd SME Surveillance CRAB-SE 3 - - - 31-Jan-25

845 Flower International SME Initial Rating CRAB-SE 3 - - - 13-Jun-24

846 Flyer Travel Express Ltd SME Surveillance CRAB-ME 3 - - - 07-Mar-25

847 FM Fashion SME Initial Rating CRAB-SE 3 - - - 07-Nov-24

848 Foam Industries Limited SME Initial CRAB-SE 3 - - - 05-Mar-25

849 Foisal Enterprise SME Initial CRAB-SE 3 - - - 05-Mar-25

850 Foisal Ice Mini Store SME Initial Rating CRAB-SE 3 - - - 25-Dec-24

851 Fortune Navigation Corporate Surveillance BBB2 - - Stable 08-Nov-24

852 Fortune Textile SME Surveillance CRAB-SE 3 - - - 29-Aug-24

853 Fosiul Alam Oil House SME Surveillance CRAB-SE 3 - - - 19-Dec-24

854 Fotik Miah SME Initial Rating CRAB-SE 3 - - - 12-Dec-24

855 Four H Apparels Ltd. Corporate Surveillance A3 A3(Lr) ST-3 Stable 31-Dec-24

856 Four H Fashions Limited Corporate Surveillance A1 A1(Lr) ST-2 Stable 30-Jun-24

857 Four H Lingerie Ltd. Corporate Surveillance A2 A2(Lr) ST-2 Stable 31-Dec-24

858 Four Star Enterprise SME Surveillance CRAB-SE 3 - - - 01-Aug-24

859 Foyez Enterprise SME Surveillance CRAB-SE 3 - - - 23-Jan-25

860 Frontier Towers Bangladesh Ltd Corporate Initial Rating BBB3 BBB3(Lr) ST-4 Stable 30-Jun-24

861 FU Engineering SME Initial CRAB-SE 3 - - - 06-Feb-25

862 Fu Wang Foods Ltd. Corporate Surveillance BBB2 BBB2(Lr) ST-3 Stable 30-Nov-24

863 Fuji Knitwears Ltd Corporate Surveillance BBB1 BBB1(Lr) ST-3 Stable 30-Mar-25

864 Fuji PVC Pipe & Plastic Industries Ltd. Corporate Surveillance BBB1 BBB1(Lr) ST-3 Stable 06-Sep-24

865 Fulkoli Bread & Biscuit Industries Limited SME Initial Rating CRAB-ME 3 - - - 06-Jun-24

866 Fulpur Agro City Limited Corporate Surveillance BBB3 BBB3(Lr) ST-3 Stable 30-Jun-24

867 Fun Factory Limited SME Initial CRAB-SE 3 - - - 19-Feb-25

868 Fuwad Traders SME Initial CRAB-SE 3 - - - 05-Mar-25

869 G Co Fabrics SME Initial Rating CRAB-SE 3 - - - 30-May-24

870 G M Enterprise SME Initial Rating CRAB-SE 3 - - - 08-May-24

871 G P Dhar & Sons SME Initial Rating CRAB-SE 3 - - - 30-Oct-24

872 G.R Plastic industries and G.R Enterprise SME Initial Rating CRAB-SE 3 - - - 28-Nov-24

873 Gaibandha Building Construction And Supply Corporate Surveillance BBB3 BBB3(Lr) ST-3 Stable 28-Dec-24

874 Galaxy World Logistics Ltd. Corporate Surveillance A2 A2(Lr) ST-3 Stable 30-Jun-24

875 Galentek Limited Project Surveillance BBB1(Pr) - - - 19-Feb-25

876 Gani & Sons SME Surveillance CRAB-SE 4 - - - 20-Jul-24

877 Gani & Sons (IBBL) SME Surveillance CRAB-SE 3 - - - 28-Dec-24

878 Garib-E-Newaz Cold Storage Limited Corporate Surveillance A2 A2(Lr) ST-3 Stable 13-Jun-24

21
Lr-Loan rating, Pr-Project rating, SO-Structured Obligation,
 Rating Update - March 2024
(Update up to 31 March 2024)

Sl No. Name of Client/Company Company/ Rating Type Entity Loan Ratings Rating
(Alphabetical order) Rating Long Term Short Term* Outlook Validity**
Firm Type

879 Garments Manufacturing and Assembling Limited SME Surveillance CRAB-ME 3 - - - 28-Sep-24

880 Gawsiya Poultry & Feed SME Surveillance CRAB-SE 3 - - - 14-Jun-24

881 Gazi Rubber Plantation & Gazi Rubber Processing Plant SME Initial Rating CRAB-SE 3 - - - 16-May-24

882 Gazipore & Marzapore Tea Estates (BD) Ltd. Corporate Surveillance A3 A3(Lr) ST-2 Stable 15-Dec-24

883 General Cargo SME Initial Rating CRAB-SE 3 - - - 21-Nov-24

884 General Elevator Corporation Bangladesh SME Initial Rating CRAB-SE 3 - - - 16-May-24

885 General Pharmaceuticals Ltd. Corporate Surveillance AA3 AA3(Lr) ST-2 Stable 31-Dec-24

886 General Scientific Company Ltd. SME Surveillance CRAB-SE 3 - - - 12-Dec-24

887 General Trading Company Corporate Surveillance A3 A3(Lr) ST-3 Stable 30-Dec-24

888 Genuine Enterprise SME Surveillance CRAB-SE 3 - - - 24-Dec-24

889 Genuine Spare Parts and Servicing SME Surveillance CRAB-SE 3 - - - 14-Dec-24

890 Germanbangla Cemical Ltd SME Initial Rating CRAB-SE 3 - - - 25-Jun-24

891 Ghowsia Food Industries SME Surveillance CRAB-SE 3 - - - 29-Aug-24

892 Giant Textiles Ltd. Corporate Surveillance BBB2 BBB2(Lr) ST-3 Stable 30-Dec-24

893 Gift Gallery SME Surveillance CRAB-SE 3 - - - 27-Jun-24

894 Glamour Dresses Ltd Corporate Surveillance BBB2 BBB2(Lr) ST-4 Stable 30-Jun-24

895 Glitter Fashion Ltd Corporate Surveillance BBB2 - ST-3 Stable 31-Dec-24

896 Global Brand Pvt Ltd Corporate Surveillance AA3 AA3(Lr) ST-2 Stable 31-Jan-25

897 Global Instrument Supply Co SME Surveillance CRAB-SE 3 - - - 31-Mar-24

898 Global Trade SME Initial Rating CRAB-SE 3 - - - 28-Nov-24

899 Global Vision SME Surveillance CRAB-SE 3 - - - 31-Jan-25

900 Globe Agrovet Ltd Corporate Surveillance A3 A3(Lr) ST-3 Stable 30-Apr-24

901 Globe Biscuit & Dairy Milk Ltd Corporate Surveillance A2 A2(Lr) ST-3 Stable 12-Apr-24

902 Globe Drugs Ltd Corporate Surveillance A2 A2(Lr) ST-3 Stable 12-Apr-24

903 Globe Edible Oil Ltd Corporate Surveillance BBB1 BBB1(Lr) ST-3 Stable 30-Apr-24

904 Globe Fisheries Ltd Corporate Surveillance BBB1 BBB1(Lr) ST-3 Stable 30-Apr-24

905 Globe Forwarding and Freight Ltd SME Initial CRAB-SE 3 - - - 30-Jan-25

906 Globe Pharmaceuticals Ltd Corporate Surveillance A1 A1(Lr), B1(Lr) ST-3 Stable 12-Apr-24

907 Globe Soft Drinks Ltd Corporate Surveillance AA2 AA2(Lr) ST-3 Stable 12-Apr-24

908 Globe Trade International SME Surveillance CRAB-SE 2 - - - 28-Dec-24

909 Globex Marketing Co Limited Corporate Surveillance A1 A1(Lr) ST-1, ST-3 Stable 30-Sep-24

910 Glory Polymer (Pvt.) Ltd. SME Surveillance CRAB-SE 3 - - - 28-Dec-24

911 Glory Recycling Oil Industries Ltd. SME Surveillance CRAB-SE 2 - - - 21-Sep-24

912 Glory Tapes And Labels Ltd. SME Surveillance CRAB-SE 3 - - - 25-Jul-24

913 GM Engineers SME Surveillance CRAB-SE 3 - - - 25-Jun-24

914 Goalundo Feeds Ltd. SME Surveillance CRAB-SE 3 - - - 30-Dec-24

915 Golden Fabrics Plus SME Surveillance CRAB-SE 3 - - - 18-Jul-24

916 Golden Infinity Limited Corporate Surveillance BBB3 BBB3(Lr) ST-4 Stable 14-Dec-24

917 Golden Sky Footware Ltd Corporate Surveillance BBB2 BBB2(Lr) ST-3 Stable 15-Aug-24

918 Golden Son Ltd. Corporate Surveillance BBB3 BBB3(Lr) ST-1,ST-4 Stable 20-Dec-24

919 Good Rich Sweaters Limited Corporate Surveillance BBB1 BBB1(Lr) ST-3 Stable 30-Jun-24

920 Gourab Industries Limited Corporate Initial Rating BBB3 BBB3(Lr) ST-3 Stable 25-Jun-24

22
Lr-Loan rating, Pr-Project rating, SO-Structured Obligation,
 Rating Update - March 2024
(Update up to 31 March 2024)

Sl No. Name of Client/Company Company/ Rating Type Entity Loan Ratings Rating
(Alphabetical order) Rating Long Term Short Term* Outlook Validity**
Firm Type

921 Gouro Gouranga Vander SME Surveillance CRAB-SE 3 - - - 19-May-24

922 Gourov Jewelers SME Surveillance CRAB-SE 3 - - - 09-Mar-25

923 Gram Bangla Tubes Limited Corporate Surveillance BBB3 BBB3Lr) ST-3 Stable 30-Jun-24

924 Gram Unnayan Karma (GUK) Corporate Surveillance AA3 - ST-2 Stable 31-Dec-24

925 Grameen Tubes and Bulbs Co SME Surveillance CRAB-SE 3 - - - 27-Mar-25

926 Graphics Ltd. Corporate Surveillance BBB2 BBB2(Lr) ST-3 Stable 10-Dec-24

927 Gravel Builders International SME Initial Rating CRAB-SE 3 - - - 10-Oct-24

928 Great Wall Ceramic Industries Ltd Corporate Surveillance AA3 AA3(Lr) ST-3 Stable 29-Jun-24

929 Great Wall Printing and Packaging Ltd. Corporate Surveillance BBB1 BBB1(Lr) ST-3 Stable 31-Dec-24

930 Green Dreams Petrochemical Ltd. SME Initial Rating CRAB-SE 3 - - - 25-Jul-24

931 Green Life Knit Composite Limited Corporate Surveillance A3 A3(Lr) ST-3 Stable 30-Sep-24

932 Green Rubber Industries SME Initial Rating CRAB-SE 3 - - - 14-Nov-24

933 Green Smart Shirts Ltd Corporate Surveillance A2 - ST-3 Stable 24-Mar-25

934 Green Textile Limited Corporate Surveillance AA3 AA3(Lr) ST-2 Stable 31-Mar-25

935 Green View Resort & Convention Centre Ltd SME Surveillance CRAB-SE 3 - - - 20-Jun-24

936 GREENMARK IMPEX LIMITED SME Initial Rating CRAB-SE 3 - - - 26-Sep-24

937 Greentex Composite Mills Limited Corporate Surveillance BBB2 BBB2(Lr) ST-4 Stable 30-Dec-24

938 GS Sweaters Ltd. Corporate Surveillance BBB3 BBB3(Lr) ST-3 Stable 30-Dec-24

939 GSA Cargo Limited Corporate Initial A2 A2(Lr) ST-2 Stable 16-Jan-25

940 GSI Trims and Accessories Limited Corporate Initial BBB3 BBB3(Lr) - Stable 05-Mar-25

941 Gulf Knitting & Textile Ltd. SME Surveillance CRAB-SE 3 - - - 24-Nov-24

942 Gulf Oil Bangladesh Ltd. SME Surveillance CRAB-SE 2 - - - 02-Dec-24

943 Gulf Travels SME Surveillance CRAB-ME 3 - - - 18-Apr-24

944 Gulshan Sharee Museum SME Surveillance CRAB-SE 3 - - - 28-Apr-24

945 H and S Cookware Ltd SME Surveillance CRAB-ME 3 - - - 26-Mar-25

946 H and T Trading SME Surveillance CRAB-SE 3 - - - 19-Feb-25

947 H I Apparels Ltd SME Surveillance CRAB-ME 3 - - - 20-May-24

948 H K Samir Auto Rice Mill SME Initial Rating CRAB-ME 3 - - - 08-May-24

949 Habib & Habib Mats SME Initial Rating CRAB-SE 3 - - - 28-Nov-24

950 Habib Chaul Kal SME Surveillance CRAB-SE 3 - - - 28-Sep-24

951 Habib CNG Filling Station SME Surveillance CRAB-SE 3 - - - 19-Aug-24

952 Habib Filling Station SME Surveillance CRAB-SE 3 - - - 26-Sep-24

953 Habib Hospital and its Sister Concerns SME Initial Rating CRAB-ME 3 - - - 12-Dec-24

954 Habib Traders (Panchoghar) SME Initial Rating CRAB-SE 4 - - - 16-May-24

955 Habib Traders SME Initial CRAB-SE 3 - - - 30-Jan-25

956 Habib Traders SME Initial Rating CRAB-SE 3 - - - 25-Dec-24

957 Haider Machineries Corporate Surveillance BBB3 BBB3(Lr) ST-3 Stable 09-Jun-24

958 Haider Machinery Store Corporate Surveillance BBB3 BBB3(Lr) ST-3 Stable 09-Jun-24

959 Haider Motors Corporate Surveillance BBB3 BBB3(Lr) ST-3 Stable 09-Jun-24

960 Hajee Badsha Meah & Sons SME Surveillance CRAB-SE 3 - - - 23-Nov-24

961 Haji Abdul Gafur Automatic Rice Mill SME Initial CRAB-SE 3 - - - 12-Mar-25

962 Haji Enterprise SME Initial Rating CRAB-SE 3 - - - 26-Sep-24

23
Lr-Loan rating, Pr-Project rating, SO-Structured Obligation,
 Rating Update - March 2024
(Update up to 31 March 2024)

Sl No. Name of Client/Company Company/ Rating Type Entity Loan Ratings Rating
(Alphabetical order) Rating Long Term Short Term* Outlook Validity**
Firm Type

963 Haji Enterprise & Abdur Rashid Enterprise SME Initial Rating CRAB-SE 3 - - - 30-Oct-24

964 Haji Gafur Enterprise SME Surveillance CRAB-SE 3 - - - 25-Jun-24

965 Haji Jahanara Enterprise SME Surveillance CRAB-SE 3 - - - 21-Aug-24

966 Haji Jamal & Sons SME Initial Rating CRAB-SE 3 - - - 30-May-24

967 Haji Kabir Traders SME Surveillance CRAB-SE 3 - - - 20-Sep-24

968 Haji Oli CNG Refueling & Conversion Company Ltd SME Surveillance CRAB-SE 3 - - - 07-Jun-24

969 Haji Paper and Board Industries Limited Corporate Surveillance BBB3 BBB3(Lr) ST-4, ST-5 Stable 30-Dec-24

970 Haji Sayed Zahid Uddin SME Initial CRAB-SE 3 - - - 05-Mar-25

971 Haji Syed Nasir Uddin SME Surveillance CRAB-SE 3 - - - 06-Feb-25

972 Haji Traders SME Surveillance CRAB-SE 3 - - - 30-Oct-24

973 Haji Trading Corporation SME Surveillance CRAB-SE 3 - - - 28-Dec-24

974 Hakim & Sons SME Surveillance CRAB-ME 4 - - - 30-Jun-24

975 Hakim Motors SME Surveillance CRAB-SE 3 - - - 16-May-24

976 Hakkani Pulp and Paper Mills Limited Corporate Surveillance BBB1 BBB1(Lr) ST-3 Stable 30-Mar-25

977 Halima Agro Complex SME Surveillance CRAB-SE 3 - - - 26-Sep-24

978 Halima Chaul Kal SME Surveillance CRAB-SE 3 - - - 27-Dec-24

979 Halima Cottage Industry SME Initial Rating CRAB-SE 3 - - - 30-Dec-24

980 Halima Traders SME Surveillance CRAB-SE 3 - - - 13-Feb-25

981 Hamid Fabrics PLC Corporate Surveillance AA3 AA3(Lr) ST-2 Stable 31-Dec-24

982 Hamid Spinning Mills Ltd Project Surveillance A3(Pr) - - - 28-Dec-24

983 Hamid Tex Fashion Ltd. SME Surveillance CRAB-SE 3 - - - 28-Oct-24

984 Hamid Weaving Mills Ltd. Corporate Surveillance AA3 AA3(Lr) ST-3 Stable 31-Dec-24

985 Hangers Plus (BD) Limited Corporate Initial Rating BBB1 BBB1(Lr) ST-3 Stable 20-Jun-24

986 Hanifi Auto Board Mills Ltd SME Surveillance CRAB-SE 3 - - - 19-Feb-25

987 Hannan Fashion Ltd Corporate Surveillance A2 A2(Lr) ST-2 Stable 28-Dec-24

988 Hannan Knit and Textile Ltd Corporate Surveillance AA3 AA3(Lr) ST-2 Stable 28-Dec-24

989 Hannan Knitwears Ltd Corporate Surveillance A2 A2(Lr) ST-2 Stable 28-Dec-24

990 Happy Traders SME Surveillance CRAB-SE 3 - - - 26-Sep-24

991 Haq s Bay SME Surveillance CRAB-SE 3 - - - 24-May-24

992 Haq’s Bay Automobiles Ltd. Corporate Surveillance BB2 BB2(Lr) ST-4 Stable 28-Nov-24

993 Haque Bricks SME Surveillance CRAB-SE 3 - - - 05-Apr-24

994 Haque Brothers SME Initial Rating CRAB-SE 3 - - - 30-Dec-24

995 Haque Enterprise (Exim Bank) SME Surveillance CRAB-SE 3 - - - 27-Jun-24

996 Haque Home & Builders Ltd. Corporate Surveillance A2 A2(Lr) ST-3 Stable 19-Nov-24

997 Haque Traders SME Initial CRAB-SE 3 - - - 16-Jan-25

998 Hard Super Bricks SME Surveillance CRAB-SE 3 - - - 23-Jan-25

999 Harrods Knit Wear Ltd. Corporate Surveillance BBB3 BBB3(Lr) ST-3 Stable 22-Aug-24

1000 Harun & Sons SME Initial Rating CRAB-SE 3 - - - 08-Aug-24

1001 Harun and Brothers SME Surveillance CRAB-SE 3 - - - 30-Jan-25

1002 Harun Enterprise SME Initial Rating CRAB-SE 3 - - - 18-Jul-24

1003 Harun Enterprise SME Surveillance CRAB-SE 3 - - - 29-Oct-24

1004 Harun Or Rashid SME Surveillance CRAB-SE 3 - - - 19-Feb-25

24
Lr-Loan rating, Pr-Project rating, SO-Structured Obligation,
 Rating Update - March 2024
(Update up to 31 March 2024)

Sl No. Name of Client/Company Company/ Rating Type Entity Loan Ratings Rating
(Alphabetical order) Rating Long Term Short Term* Outlook Validity**
Firm Type

1005 Harun Sowdagor SME Initial Rating CRAB-SE 3 - - - 24-May-24

1006 Harun Miah Traders SME Surveillance CRAB-SE 3 - - - 06-Sep-24

1007 Hasan & Brothers SME Initial Rating CRAB-SE 3 - - - 25-Jun-24

1008 Hasan & Company Corporate Surveillance BBB2 BBB2(Lr) ST-3 Stable 20-Jun-24

1009 Hasan & Sons SME Initial Rating CRAB-SE 3 - - - 19-Dec-24

1010 Hasan & Sons (Janata Bank) SME Initial Rating CRAB-SE 3 - - - 25-Dec-24

1011 Hasan Dewan Kathgola & Saw Mills SME Surveillance CRAB-SE 3 - - - 31-May-24

1012 Hasan Enterprise SME Surveillance CRAB-SE 3 - - - 29-Jun-24

1013 Hasan Flour Mills Ltd. Corporate Surveillance AA1 - ST 1 - 31-Mar-24

1014 Hasan Medical Hall SME Surveillance CRAB-SE 3 - - - 10-Dec-24

1015 Hasan Store SME Surveillance CRAB-SE 3 - - - 15-Dec-24

1016 Hashem Air International SME Surveillance CRAB-SE 3 - - - 29-Oct-24

1017 Hasib Chaul Kal Corporate Surveillance BBB3 - ST-3 Stable 28-Sep-24

1018 Hasib Motsho Khamar SME Initial Rating CRAB-SE 3 - - - 28-Nov-24

1019 Hazi Auto Bricks Ltd Corporate Initial Rating B1(Pr) - - - 24-Oct-24

1020 Hazi Dudu Miah Enterprise SME Initial Rating CRAB-SE 3 - - - 19-Dec-24

1021 Hazi Enterprise SME Surveillance CRAB-SE 3 - - - 07-Sep-24

1022 Hazi Filling Station SME Surveillance CRAB-SE 3 - - - 07-Nov-24

1023 Hazi Mashud Ali Model Filling Station SME Surveillance CRAB-SE 3 - - - 25-Dec-24

1024 Hazi Mojnu Miah CNG Filling Station SME Surveillance CRAB-SE 3 - - - 18-Oct-24

1025 Hazi Samsu Mia Jewelers SME Initial Rating CRAB-ME 3 - - - 08-May-24

1026 Hazrat Shah Abu Bokor RA Enterprise SME Initial Rating CRAB-SE 3 - - - 30-Dec-24

1027 Hedayet & Brothers Corporate Surveillance A3 A3(Lr) ST-2 Stable 11-Dec-24

1028 Heera Refrigeration & Engineering Works SME Surveillance CRAB-SE 3 - - - 05-Nov-24

1029 HeidelbergCement Bangladesh Ltd Corporate Surveillance AA2 - ST-2 Stable 16-May-25

1030 Helicon Ltd Corporate Surveillance BBB1 BBB1(Lr) ST-3 Stable 13-Feb-25

1031 Hena Biddut Bitan SME Initial Rating CRAB-SE 3 - - - 17-Oct-24

1032 Heritage Polymer and lami Tubes Limited Corporate Surveillance BBB2 BBB2(Lr) ST-3 Stable 31-Jan-25

1033 Hi-Care Medical Check-up Center SME Initial Rating CRAB-SE 3 - - - 07-Nov-24

1034 Highway Accessories Ltd SME Surveillance CRAB-SE 3 - - - 12-Jun-24

1035 Highway Filling Station SME Surveillance CRAB-SE 3 - - - 03-Jun-24

1036 HI-TECH Lifestyle & Furniture SME Initial Rating CRAB-SE 3 - - - 30-Dec-24

1037 HKGE Consortium Ltd Project Surveillance A3(Pr) - - - 31-Jul-24

1038 HM Oxygen Limited Corporate Initial Rating BBB3 BBB3(Lr) ST-3 Stable 26-Sep-24

1039 HNM Packaging Industries Limited Corporate Surveillance BB2 BB2(Lr) ST-4 Stable 30-Oct-24

1040 HNS Automobiles Limited & its sister concern Corporate Surveillance A2 A2(Lr) ST-3 Stable 30-Jun-24

1041 HNS Traders SME Surveillance CRAB-SE 3 - - - 29-Sep-24

1042 Hollywood Garments (Pvt) Ltd Corporate Surveillance BBB1 BBB1(Lr) ST-3 Stable 21-Sep-24

1043 Home Fashion Ltd Corporate Surveillance BBB3 BBB3(Lr) ST-3 Stable 26-Jun-24

1044 Hossain Enterprise SME Surveillance CRAB-ME 5 - - - 16-May-24

1045 Hotel Ababil SME Surveillance CRAB-SE 3 - - - 30-Dec-24

1046 Hotel Shuktara (Pvt.) Limited. SME Surveillance CRAB-SE 4 - - - 20-Oct-24

25
Lr-Loan rating, Pr-Project rating, SO-Structured Obligation,
 Rating Update - March 2024
(Update up to 31 March 2024)

Sl No. Name of Client/Company Company/ Rating Type Entity Loan Ratings Rating
(Alphabetical order) Rating Long Term Short Term* Outlook Validity**
Firm Type

1047 House of Accessories & Label Ltd Corporate Initial Rating BBB3(Pr) - - - 07-Nov-24

1048 HR Electronics SME Initial CRAB-SE 3 - - - 26-Mar-25

1049 HR Transport Agency SME Surveillance CRAB-ME 2 - - - 30-Nov-24

1050 HRC Technologies Ltd. Corporate Surveillance BB3 BB3(Lr) ST-4 Stable 31-Aug-24

1051 Hridoy Traders SME Initial Rating CRAB-SE 3 - - - 19-Dec-24

1052 HRS Knit Wear SME Initial Rating CRAB-SE 3 - - - 26-Sep-24

1053 Hujaifa Enterprise SME Surveillance CRAB-SE 2 - - - 26-Dec-24

1054 Hussain Stone Industry SME Initial Rating CRAB-SE 3 - - - 12-Dec-24

1055 Hussain Telecom SME Initial Rating CRAB-SE 3 - - - 19-Dec-24

1056 Hyatt Corporation SME Initial CRAB-SE 3 - - - 26-Mar-25

1057 Hydar Automobiles SME Surveillance CRAB-SE 3 - - - 09-Jun-24

1058 Hydroxide Knitwear Limited Corporate Surveillance BBB1 BBB1(Lr) ST-3 Stable 25-Jun-24

1059 I Corporation SME Surveillance CRAB-SE 3 - - - 29-Jun-24

1060 I Q Knit & Fabrics and Its sister concern SME Surveillance CRAB-SE 3 - - - 31-Oct-24

1061 IBCO Food Industries Ltd. Corporate Surveillance BBB1 - ST-3 Stable 29-Sep-24

1062 iBMS Technology Bangladesh Limited SME Surveillance CRAB-SE 3 - - - 21-Sep-24

1063 Ibn Sina Diagnostic & Imaging Center, Dhanmondi Corporate Surveillance A1 - - Stable 26-Sep-24

1064 Ibrahim Knit Garments Pvt Ltd. Corporate Surveillance A3 A3(Lr) ST-3 Stable 15-Jan-25

1065 ICEL Private Ltd SME Initial Rating CRAB-SE 3 - - - 19-Dec-24

1066 Ideal Fastener Bangladesh Ltd Corporate Surveillance BBB1 - ST-3 Stable 31-Jan-25

1067 IFAD Autos Coupon Bearing Bond Corporate Surveillance AA3 - - Stable 28-Jun-24

1068 IFAD Autos Ltd. Corporate Surveillance AA2 AA2(Lr) ST-2 Stable 31-Dec-24

1069 Ifad Construction SME Initial CRAB-SE 3 - - - 19-Mar-25

1070 IFAD Enterprise Ltd Corporate Surveillance BBB2 BBB2(Lr) ST-3 Stable 31-Mar-24

1071 IFAD Motors Ltd Corporate Surveillance A3 A3(Lr) ST-3 Stable 26-Jun-24

1072 IFAD Multi Products Ltd Corporate Surveillance A2 A2(Lr) ST-3 Stable 30-Apr-24

1073 Iffat Associates SME Surveillance CRAB-SE 3 - - - 13-Jun-24

1074 Ifraz Packaging Industry Ltd. Corporate Surveillance BBB3 - ST-3 Stable 25-Aug-24

1075 Impex International Corporate Surveillance BBB2 BBB2(Lr) ST-3 Stable 14-Dec-24

1076 IMPRESS AD SME Initial CRAB-SE 3 - - - 05-Mar-25

1077 Impress-Newtex Composite Textiles Ltd Corporate Surveillance A1 A1(Lr) ST-3 Stable 31-Jan-25

1078 Independent Apparels Limited Corporate Initial Rating BBB1 BBB1(Lr) ST-3 Stable 17-Oct-24

1079 Independent CNG Filling Station SME Surveillance CRAB-SE 3 - - - 14-Dec-24

1080 Index Agro Industries Ltd. Corporate Surveillance A3 A3(Lr) ST-3 Stable 30-Dec-24

1081 Index Soap & Chemical Industries SME Surveillance CRAB-ME 2 - - - 12-Nov-24

1082 Infinia Asset Development Limited Corporate Initial Rating BBB3 BBB3(Lr) ST-3 Stable 12-Sep-24

1083 Infinia Composite Textile Limited Corporate Initial BBB3 BBB3(Lr) ST-3 Stable 23-Jan-25

1084 Infinia Spinning Mills Limited Corporate Initial Rating BBB1 BBB1(Lr) ST-3 Stable 25-Dec-24

1085 Infinia Synthetic Fiber Ltd Corporate Initial BBB2 BBB2(Lr) ST-3 Stable 30-Jan-25

1086 Infinity Engineering Ltd. SME Initial Rating CRAB-SE 3 - - - 30-Dec-24

1087 Innert Fabric & Quilt Limited Corporate Surveillance BBB3 BBB3(Lr) ST-3 Stable 05-Apr-24

1088 Innova Apparels Solutions Corporate Surveillance BBB1 - ST-3 Stable 19-Mar-25

26
Lr-Loan rating, Pr-Project rating, SO-Structured Obligation,
 Rating Update - March 2024
(Update up to 31 March 2024)

Sl No. Name of Client/Company Company/ Rating Type Entity Loan Ratings Rating
(Alphabetical order) Rating Long Term Short Term* Outlook Validity**
Firm Type

1089 Innovative Trade SME Surveillance CRAB-SE 3 - - - 30-Sep-24

1090 Insaf Husking Mill SME Initial Rating CRAB-SE 3 - - - 30-Dec-24

1091 Intefa Corporate Surveillance BBB2 BBB2(Lr) ST-3 Stable 30-Jun-24

1092 Integrated Computer & Communications Ltd SME Surveillance CRAB-SE 3 - - - 11-Aug-24

1093 Inter Coating Co. Ltd SME Initial Rating CRAB-SE 3 - - - 01-Aug-24

1094 Intergraphic Ltd SME Initial Rating CRAB-SE 3 - - - 21-Nov-24

1095 Interhealth & Devices Ltd. SME Surveillance CRAB-SE 3 - - - 25-Dec-24

1096 Interior Goods SME Surveillance CRAB-SE 3 - - - 12-Aug-24

1097 Interlink Dresses Corporate Surveillance BBB2 BBB2(Lr) ST-3 Stable 30-Dec-24

1098 International Marine Services SME Surveillance CRAB-SE 3 - - - 04-Sep-24

1099 International Trading Services Ltd. Corporate Surveillance A2 - ST-3 Stable 23-Sep-24

1100 Interpack Ltd SME Initial Rating CRAB-SE 3 - - - 21-Nov-24

1101 Interstellar Technologies Ltd SME Initial Rating CRAB-SE 3 - - - 12-Sep-24

1102 Intex Builders Ltd. Corporate Surveillance BBB3 BBB3(Lr) ST-3 Stable 29-Sep-24

1103 Intraco LPG Ltd. Corporate Surveillance A3 A3(Lr) ST-3 Stable 30-Dec-24

1104 Intraco Properties Ltd. Corporate Initial Rating BBB2 BBB2(Lr) - Stable 31-Mar-24

1105 Intraco Solar Power Ltd Corporate Surveillance A3 A3(Lr) ST 3 Stable 25-Jul-24

1106 Iqbal & Brothers & Its Sister Concern SME Initial Rating CRAB-SE 3 - - - 17-Oct-24

1107 Iqbal and Brothers SME Surveillance CRAB-ME 3 - - - 20-Jan-25

1108 Iqbal Trading Corporation Corporate Surveillance BBB3 BBB3(Lr) ST-3 Stable 25-Jun-24

1109 Iqra Travels & Tours SME Surveillance CRAB-SE 3 - - - 20-Dec-24

1110 IR Limited SME Surveillance CRAB-ME 3 - - - 16-May-24

1111 Ishaque & Sons Construction SME Surveillance CRAB-SE 3 - - - 25-Dec-24

1112 Ishfak Ahmed Chowdhury SME Initial Rating CRAB-SE 3 - - - 19-Dec-24

1113 Islam Engineering Co. SME Surveillance CRAB-SE 3 - - - 29-Sep-24

1114 Islam Garments Limited Corporate Surveillance A1 A1(Lr) ST-2 Stable 30-Jun-24

1115 Islam Knit Design Ltd. Corporate Surveillance A2 A2(Lr) ST-2 Stable 08-Aug-24

1116 Islam Pack and Accessories Ltd Corporate Surveillance A3 - ST-3 Stable 31-Dec-24

1117 Islam Steel Products Corporate Surveillance BBB2 - ST-3 Stable 30-Sep-24

1118 Islam Timber Merchant and Saw Mill SME Initial Rating CRAB-SE 3 - - - 12-Sep-24

1119 Islam Traders SME Initial Rating CRAB-SE 3 - - - 17-Oct-24

1120 Islam Traders (Chapai Nawabgonj) SME Surveillance CRAB-SE 3 - - - 17-Dec-24

1121 Islam Trading SME Surveillance CRAB-SE 3 - - - 17-Oct-24

1122 Islamia Auto Traders SME Initial CRAB-SE 3 - - - 13-Feb-25

1123 Ismail Enterprise & Its Sister Concern SME Surveillance CRAB-SE 2 - - - 30-Dec-24

1124 Ismail Hossain SME Surveillance CRAB-SE 3 - - - 08-May-24

1125 Ispahani Agro Ltd. Corporate Surveillance A2 A2(Lr) ST-2 Stable 30-Dec-24

1126 Ispahani Foods Ltd. Corporate Surveillance AA3 AA3(Lr) ST-2 Stable 15-Dec-24

1127 Ispahani Marshal Limited Corporate Surveillance A3 A3(Lr) ST-3 Stable 30-Dec-24

1128 Ispahani Summit Alliance Terminals Limited Corporate Initial Rating AA2 AA2(Lr) ST-3 Stable 29-Apr-24

1129 Ispahani Tea Ltd. Corporate Surveillance AA1 AA1(Lr) ST-1 Stable 15-Dec-24

1130 Israt Jahan Dina Traders SME Initial Rating CRAB-SE 3 - - - 05-Apr-24

27
Lr-Loan rating, Pr-Project rating, SO-Structured Obligation,
 Rating Update - March 2024
(Update up to 31 March 2024)

Sl No. Name of Client/Company Company/ Rating Type Entity Loan Ratings Rating
(Alphabetical order) Rating Long Term Short Term* Outlook Validity**
Firm Type

1131 IT Consultants Ltd. Corporate Surveillance AA2 AA2(Lr) ST-2 Stable 31-Dec-24

1132 Ital Adweg (Pvt) Ltd. SME Initial Rating CRAB-SE 3 - - - 22-Aug-24

1133 ITD Bangladesh Company Ltd. Corporate Surveillance A3 A3(Lr) - Stable 30-Dec-24

1134 Ittadi Fashion SME Initial Rating CRAB-SE 3 - - - 18-Jul-24

1135 Iyasin Corporation SME Initial CRAB-SE 3 - - - 19-Mar-25

1136 J S Enterprise SME Initial Rating CRAB-SE 3 - - - 29-Apr-24

1137 J S Trading Co SME Surveillance CRAB-SE 3 - - - 09-Mar-25

1138 Jaantex Industries Ltd Corporate Surveillance BBB1 - ST-1, ST-2, ST-3
Stable 29-Aug-24

1139 Jabbaria Enterprise SME Surveillance CRAB-ME 3 - - - 12-Apr-24

1140 Jabed Agro Food Processing Ltd Corporate Surveillance BBB3 BBB3(Lr) ST-4 Stable 19-Feb-25

1141 Jabed Consumer Company Limited SME Initial Rating CRAB-SE 4 - - - 24-May-24

1142 Jaflong Shillabhumi Stone Crusher SME Initial Rating CRAB-SE 3 - - - 14-Nov-24

1143 Jafor Enterprise SME Initial Rating CRAB-SE 3 - - - 12-Dec-24

1144 JAFS Paper and Packaging Ltd Corporate Surveillance BB1 BB1(Lr) ST-4 Stable 06-Mar-25

1145 Jahanara Cotton Tex Limited Corporate Surveillance BBB2 BBB2(Lr) ST-3 Stable 21-Nov-24

1146 Jahanara Trading SME Surveillance CRAB-SE 3 - - - 30-Jun-24

1147 Jahangir & Others Ltd. Corporate Surveillance A2 A2(Lr) ST-3 Stable 31-Dec-24

1148 Jahangir Enterprise SME Initial Rating CRAB-SE 3 - - - 24-Oct-24

1149 Jahid Chaul Kall SME Initial Rating CRAB-SE 3 - - - 30-May-24

1150 Jahid Enterprise SME Initial Rating CRAB-ME 2 - - - 30-Aug-24

1151 Jahin Enterpise SME Initial Rating CRAB-SE 3 - - - 17-Oct-24

1152 Jakir Enterprise SME Surveillance CRAB-SE 3 - - - 22-Aug-24

1153 Jakir Enterprise Limited Corporate Initial BB2 BB2(Lr) ST-5 Stable 23-Jan-25

1154 Jamal Enterprise SME Initial Rating CRAB-SE 3 - - - 30-Aug-24

1155 Jamal Traders SME Initial Rating CRAB-SE 3 - - - 21-Nov-24

1156 Jaman Enterprise SME Surveillance CRAB-SE 3 - - - 04-Dec-24

1157 Jami Enterprise SME Initial Rating CRAB-SE 3 - - - 24-Oct-24

1158 Jamuna Apparels Limited Corporate Surveillance A3 A3(Lr) ST 3 Stable 25-May-24

1159 Jamuna Construction 1 SME Initial Rating CRAB-SE 3 - - - 30-Dec-24

1160 Jamuna Insulation Co. Ltd. SME Surveillance CRAB-SE 3 - - - 30-Aug-24

1161 Jamuna Steel SME Initial Rating CRAB-SE 3 - - - 30-Dec-24

1162 Jamy Hardware Store SME Initial Rating CRAB-SE 3 - - - 01-Aug-24

1163 Janani Auto Chira & Rice Mill SME Surveillance CRAB-SE 3 - - - 20-Nov-24

1164 Janani Stone Crushing Industries SME Initial Rating CRAB-SE 3 - - - 12-Apr-24

1165 Janani Traders SME Initial Rating CRAB-SE 3 - - - 17-Oct-24

1166 Janata Automobiles SME Initial Rating CRAB-SE 3 - - - 30-Dec-24

1167 Janata Drug Store SME Surveillance CRAB-SE 3 - - - 29-Oct-24

1168 Janata Flour Mills SME Initial Rating CRAB-SE 3 - - - 20-Jun-24

1169 Janata Mosaic SME Surveillance CRAB-SE 3 - - - 02-Nov-24

1170 Janata Oil Mills SME Initial Rating CRAB-SE 3 - - - 20-Jun-24

1171 Janata Steels Ltd Corporate Initial Rating A3 A3(Lr) ST-3 Stable 12-Dec-24

1172 Janata TIles Agnecy SME Initial Rating CRAB-SE 3 - - - 25-Dec-24

28
Lr-Loan rating, Pr-Project rating, SO-Structured Obligation,
 Rating Update - March 2024
(Update up to 31 March 2024)

Sl No. Name of Client/Company Company/ Rating Type Entity Loan Ratings Rating
(Alphabetical order) Rating Long Term Short Term* Outlook Validity**
Firm Type

1173 Janoni International SME Initial CRAB-SE 3 - - - 26-Mar-25

1174 Jans Elastica Ltd Corporate Surveillance BBB2 - ST-3 Stable 13-Feb-25

1175 Japan Solartech (Bangladesh) Limited SME Initial Rating CRAB-SE 3 - - - 29-Apr-24

1176 Jara Non Woven Fabric Industry Corporate Initial BBB2 BBB2(Lr) ST-3 Stable 30-Jan-25

1177 Jassim Mohammed & Co Corporate Initial Rating BBB2 BBB2(Lr) ST-3 Stable 24-May-24

1178 Jayed Trade International & Its Sister Concern SME Surveillance CRAB-SE 2 - - - 14-Oct-24

1179 JB Cylinder Ltd SME Surveillance CRAB-ME 3 - - - 31-May-24

1180 JC Printing and Packaging SME Surveillance CRAB-SE 3 - - - 18-Dec-24

1181 Jeans 2000 Ltd Corporate Surveillance AA3 - ST-2 Stable 27-Feb-25

1182 Jeba Chaul Kall SME Initial Rating CRAB-SE 3 - - - 17-Oct-24

1183 Jenny Enterprise SME Initial Rating CRAB-SE 3 - - - 16-May-24

1184 Jewel & Nippon Steel House SME Initial Rating CRAB-SE 3 - - - 08-May-24

1185 Jhatika Traders Ltd SME Surveillance CRAB-ME 3 - - - 21-Aug-24

1186 JHM Cotton Ltd SME Surveillance CRAB-SE 4 - - - 16-Jan-25

1187 Jibon Exim International SME Initial Rating CRAB-SE 3 - - - 19-Dec-24

1188 Jihan Footwear Pvt Ltd SME Surveillance CRAB-ME 2 - - - 28-Feb-25

1189 Jinyuan Chemical Industry Limited SME Initial Rating CRAB-ME 3 - - - 26-Sep-24

1190 JK Enterprise SME Initial Rating CRAB-SE 3 - - - 30-May-24

1191 JK Jacquard Limited Project Initial BBB3(Pr) - - - 12-Mar-25

1192 JMG International SME Surveillance CRAB-SE 3 - - - 18-Jun-24

1193 JMJ Mollah Ice & Cold Storage Limited SME Initial Rating CRAB-SE 4 - - - 25-Jun-24

1194 JNZ Fashion Limited SME Surveillance CRAB-ME 3 - - - 13-Jun-24

1195 Joarder Chaul Kall SME Surveillance CRAB-SE 3 - - - 18-Oct-24

1196 Johan Trade & Co SME Initial Rating CRAB-SE 3 - - - 06-Sep-24

1197 Johnson Elevator (BD) Limited SME Initial Rating CRAB-SE 3 - - - 12-Sep-24

1198 Johny Textile Mills Ltd. Corporate Surveillance BBB3 BBB3(Lr) ST-3 Stable 12-Sep-24

1199 Jom Jom Traders SME Initial Rating CRAB-SE 3 - - - 21-Nov-24

1200 JON JV Corporate Initial Rating A3 - ST-3 Stable 20-Sep-24

1201 Jononi Enterprise SME Surveillance CRAB-SE 3 - - - 12-Nov-24

1202 Jononi Traders SME Surveillance CRAB-SE 3 - - - 06-Feb-25

1203 Jonoprio Foods SME Surveillance CRAB-SE 3 - - - 30-Jan-25

1204 Josh Collection SME Initial CRAB-SE 3 - - - 23-Jan-25

1205 Josna Big Bazar SME Initial Rating CRAB-SE 3 - - - 21-Nov-24

1206 Joules Power Limited Corporate Surveillance A3 A3(Lr) ST-3 Stable 19-Nov-24

1207 Joy & 3 stars P(vt) Limited SME Surveillance CRAB-SE 3 - - - 31-May-24

1208 Joya Oil Mill SME Initial CRAB-SE 3 - - - 06-Feb-25

1209 Joykali Traders SME Initial Rating CRAB-SE 3 - - - 07-Nov-24

1210 JR Trading Corporation SME Surveillance CRAB-SE 3 - - - 27-Dec-24

1211 JSS Service Ltd SME Initial CRAB-SE 3 - - - 12-Mar-25

1212 Jubayer Corporation Corporate Surveillance BBB2 - - Stable 14-Sep-24

1213 Jumara Enterprise SME Surveillance CRAB-SE 3 - - - 28-Nov-24

1214 Juti and Junaki Agro Enterprise SME Initial CRAB-SE 3 - - - 06-Feb-25

29
Lr-Loan rating, Pr-Project rating, SO-Structured Obligation,
 Rating Update - March 2024
(Update up to 31 March 2024)

Sl No. Name of Client/Company Company/ Rating Type Entity Loan Ratings Rating
(Alphabetical order) Rating Long Term Short Term* Outlook Validity**
Firm Type

1215 K R Aluminium Products Limited Corporate Initial Rating BBB3 BBB3(Lr) ST-3 Stable 26-Dec-24

1216 K S Complex SME Surveillance CRAB-SE 4 - - - 21-Nov-24

1217 K T Dal Mill SME Surveillance CRAB-SE 3 - - - 15-Jun-24

1218 Kabbo Traders SME Surveillance CRAB-SE 3 - - - 26-Nov-24

1219 Kafi Traders SME Initial Rating CRAB-SE 3 - - - 24-Oct-24

1220 Kamal Brothers SME Surveillance CRAB-SE 3 - - - 30-Jun-24

1221 Kamal Enterprise SME Initial Rating CRAB-SE 3 - - - 19-Dec-24

1222 Kamal Iron Mart SME Surveillance CRAB-SE 3 - - - 28-Sep-24

1223 Kamal Motors SME Initial Rating CRAB-SE 3 - - - 10-Oct-24

1224 Kamlesh Traders SME Initial Rating CRAB-SE 3 - - - 30-Dec-24

1225 Karim Spinning Mills Ltd Corporate Surveillance A1 A1(Lr) ST-3 Stable 30-Jun-24

1226 Karim Textiles Ltd Corporate Surveillance AA3 AA3(Lr) ST-3 Stable 30-Jun-24

1227 Karnaphuly Traders SME Initial Rating CRAB-SE 3 - - - 21-Nov-24

1228 Karnophuli Traders SME Surveillance CRAB-SE 3 - - - 26-Jun-24

1229 Karooni Fabric Dyeing Ltd Corporate Initial Rating BBB3 BBB3(Lr) ST-3 Stable 08-Aug-24

1230 Karooni Knit Composite Ltd. Corporate Surveillance A2 A2(Lr) ST-3 Stable 30-Dec-24

1231 Karotoa Spinning Mills Ltd Corporate Surveillance BBB1 BBB1(Lr) ST-3 Stable 28-Feb-25

1232 Karryon SME Surveillance CRAB-SE 2 - - - 06-Jun-24

1233 Karukaj Textile SME Initial Rating CRAB-SE 3 - - - 19-Dec-24

1234 Karupannya Rangpur Ltd Corporate Surveillance A1 A1(Lr) ST-2 Stable 20-Dec-24

1235 Kas Agro Industries Ltd SME Initial Rating CRAB-SE 3 - - - 16-May-24

1236 Kashem Enterprise SME Surveillance CRAB-SE 2 - - - 30-Oct-24

1237 Kashfi Knitwears Limited Corporate Surveillance BBB1 - ST-3 Stable 16-Jan-25

1238 Kashish SME Initial Rating CRAB-SE 5 - - - 30-Oct-24

1239 Kattali Textiles Ltd Corporate Surveillance BBB2 - ST-3 Stable 26-Jun-24

1240 Kaveri Sweaters Ltd Corporate Surveillance BBB2 BBB2(Lr) - Stable 19-Mar-25

1241 Kawsar Poultry Farm and feed Centre SME Surveillance CRAB-SE 3 - - - 08-Sep-24

1242 Kawsar Trading Corporation SME Initial Rating CRAB-SE 3 - - - 30-Dec-24

1243 Kazi Enterprise SME Initial Rating CRAB-SE 3 - - - 25-Jun-24

1244 Kazi Moynul Hussain SME Surveillance CRAB-SE 3 - - - 25-Jul-24

1245 Kazi Shahidur Rahman SME Surveillance CRAB-SE 3 - - - 04-Dec-24

1246 Kazipur Fashions Ltd Corporate Surveillance A3 A3(Lr) ST-3 Stable 30-Jun-24

1247 KB Trading & its sister concen Rajib Enterprise SME Surveillance CRAB-SE 3 - - - 14-Jun-24

1248 KBG Business Limited SME Surveillance CRAB-SE 3 - - - 26-May-24

1249 Kemico Pharmaceutical Corporate Surveillance BBB2 BBB2(Lr) ST-3 Stable 29-Apr-24

1250 Kems Fashions Limited Corporate Surveillance BBB3 - ST-3 Stable 16-Jan-25

1251 Kenpark Bangladesh (Pvt.) Ltd. Corporate Surveillance AA3 AA3(Lr) ST-2 Stable 06-Sep-24

1252 Kenpark Bangladesh Apparel (Pvt.) Ltd. Corporate Surveillance AA2 AA2(Lr) ST-2 Stable 06-Sep-24

1253 Khagrachari Stone Suppliers SME Initial CRAB-SE 3 - - - 30-Jan-25

1254 Khaja Air Liner SME Surveillance CRAB-SE 3 - - - 26-Dec-24

1255 Khaja Ajmir Furniture SME Initial Rating CRAB-SE 3 - - - 12-Dec-24

1256 Khaja Auto Rice Mill SME Surveillance CRAB-SE 3 - - - 21-Sep-24

30
Lr-Loan rating, Pr-Project rating, SO-Structured Obligation,
 Rating Update - March 2024
(Update up to 31 March 2024)

Sl No. Name of Client/Company Company/ Rating Type Entity Loan Ratings Rating
(Alphabetical order) Rating Long Term Short Term* Outlook Validity**
Firm Type

1257 Khaja Bostraloy SME Initial Rating CRAB-SE 3 - - - 05-Apr-24

1258 Khajababa Enterprise and Its Sister Concern SME Surveillance CRAB-SE 3 - - - 28-Dec-24

1259 Khaleque Enterprise SME Surveillance CRAB-SE 3 - - - 18-Apr-24

1260 Khaleque Enterprise SME Surveillance CRAB-SE 3 - - - 04-Dec-24

1261 Khamar Bari SME Initial Rating CRAB-SE 3 - - - 05-Dec-24

1262 Khan & Alam Associates SME Initial Rating CRAB-SE 3 - - - 07-Nov-24

1263 Khan & sons SME Surveillance CRAB-ME 3 - - - 20-Jun-24

1264 Khan Auto Rice Mill SME Initial Rating CRAB-SE 3 - - - 01-Aug-24

1265 Khan Autos SME Initial Rating CRAB-SE 3 - - - 30-Nov-24

1266 Khan Brothers Ship Building Ltd Corporate Surveillance AA2 AA2(Lr) - Stable 28-Feb-25

1267 Khan Electric & Machineries SME Initial Rating CRAB-SE 3 - - - 17-Oct-24

1268 Khan Enterprise SME Initial CRAB-SE 3 - - - 06-Feb-25

1269 Khan Enterprise SME Surveillance CRAB-SE 3 - - - 21-Aug-24

1270 Khan Printing and Packaging SME Initial CRAB-SE 4 - - - 12-Mar-25

1271 Khan Rice Mill SME Initial Rating CRAB-SE 3 - - - 30-Dec-24

1272 Khan Trading Agency SME Surveillance CRAB-SE 2 - - - 28-Dec-24

1273 Khandokar & Brothers SME Surveillance CRAB-SE 3 - - - 21-Aug-24

1274 Khawja Boiler and Marine Store SME Initial CRAB-SE 3 - - - 13-Feb-25

1275 Khawja Garibe Newaz SME Surveillance CRAB-ME 3 - - - 20-Jun-24

1276 Khawja Iron Store SME Initial Rating CRAB-SE 3 - - - 19-Dec-24

1277 Khawja Timber & Saw Mills Ltd. SME Surveillance CRAB-SE 2 - - - 09-Dec-24

1278 Khaza Metal Industries SME Initial Rating CRAB-SE 3 - - - 30-Aug-24

1279 Khokan and Brothers Pvt Limited Corporate Initial BBB2 BBB2 (Lr) ST-3 Stable 16-Jan-25

1280 Khorshed Alam Traders SME Surveillance CRAB-SE 3 - - - 14-Dec-24

1281 Khorshed Paint & Hardware SME Initial Rating CRAB-SE 3 - - - 26-May-24

1282 Khulna Frozen Foods Export Ltd. SME Surveillance CRAB-SE 3 - - - 07-Nov-24

1283 Kibrea Enterprise SME Initial Rating CRAB-SE 3 - - - 30-Aug-24

1284 Kibria Agro Industries Corporate Surveillance BBB2 - ST-3 Stable 27-Feb-25

1285 Kibria Paper Mill Ltd Corporate Surveillance BBB2 BBB2(Lr) ST-3 Stable 27-Feb-25

1286 Kibria Traders Corporate Surveillance BBB2 - ST-3 Stable 27-Feb-25

1287 Kingfisher Coxs Bay Limited Corporate Initial Rating BBB3 BBB3(Lr) ST-3 Stable 22-Aug-24

1288 Kishore Enterprise SME Initial Rating CRAB-SE 3 - - - 12-Sep-24

1289 Kishwan Agro Products Limited Corporate Surveillance A2 A2(Lr) ST-3 Stable 25-May-24

1290 Kishwan Snacks Limited Corporate Surveillance A2 A2(Lr) ST-3 Stable 25-May-24

1291 Kismot Petroleum SME Initial Rating CRAB-SE 3 - - - 30-May-24

1292 Knit Line Fashion SME Initial Rating CRAB-SE 3 - - - 21-Nov-24

1293 Knit Plus Limited Corporate Surveillance A1 A1(Lr) ST-2 Stable 19-Nov-24

1294 Knit Radix Limited Corporate Surveillance BBB3 BBB3 (Lr) BBB3 Stable 29-Sep-24

1295 Knit Valley Fashions Ltd Corporate Surveillance A3 A3(Lr) ST-3 Stable 01-Feb-25

1296 Koala Elastic & Accessories SME Surveillance CRAB-ME 3 - - - 29-Jun-24

1297 Kobir Enterprise SME Initial CRAB-SE 3 - - - 13-Feb-25

1298 Kolka CNG SME Initial CRAB-SE 3 - - - 19-Mar-25

31
Lr-Loan rating, Pr-Project rating, SO-Structured Obligation,
 Rating Update - March 2024
(Update up to 31 March 2024)

Sl No. Name of Client/Company Company/ Rating Type Entity Loan Ratings Rating
(Alphabetical order) Rating Long Term Short Term* Outlook Validity**
Firm Type

1299 Kolomdor & Sons SME Initial Rating CRAB-SE 3 - - - 30-May-24

1300 Konabari Transport Agency and Sand Singles and Boulder Suppliers
SME Initial CRAB-SE 3 - - - 16-Jan-25

1301 Koni Enterprise and Its Sister Concern Manha Traders SME Initial CRAB-SE 3 - - - 12-Mar-25

1302 Korotoya Jute & Agro Industries Ltd. SME Surveillance CRAB-SE 3 - - - 04-Dec-24

1303 Koyel SME Initial CRAB-SE 3 - - - 23-Jan-25

1304 Krishi Seed Store SME Initial CRAB-SE 3 - - - 23-Jan-25

1305 Kudrot Ullah & Ataullah SME Surveillance CRAB-SE 3 - - - 25-Jun-24

1306 Kung Keng Textile Bangladesh Co Ltd Corporate Surveillance A3 A3(Lr) ST-3 Stable 05-Nov-24

1307 Kushiara Power Company Ltd Corporate Surveillance A1 A1(Lr) ST-3 Stable 04-Mar-25

1308 Kushiara Traders SME Surveillance CRAB-SE 3 - - - 07-Nov-24

1309 Kuwait Auto Rice Mill SME Surveillance CRAB-SE 3 - - - 07-Nov-24

1310 Kyros Footwear Industries Ltd. Corporate Surveillance BBB2 BBB2(Lr) ST-3 Stable 12-Dec-24

1311 L Esquire Limited Corporate Surveillance BBB2 BBB2(Lr) ST-3 Stable 19-Nov-24

1312 L M T Co SME Surveillance CRAB-ME 3 - - - 19-Nov-24

1313 La bela Footwear Industries Corporate Initial Rating BBB1 BBB1(Lr) ST-3 Stable 17-Oct-24

1314 La Muni Apparels Ltd. Corporate Surveillance BBB2 BBB2(Lr) ST-3 Stable 05-Nov-24

1315 Labaid Cancer Hospital & Super Speciality Centre Ltd. Corporate Surveillance A3(Pr) - - - 04-Dec-24

1316 Labib Enterprise SME Surveillance CRAB-SE 3 - - - 05-Nov-24

1317 Laila Steel Corporation SME Initial Rating CRAB-SE 3 - - - 12-Sep-24

1318 Lake Park City SME Initial CRAB-SE 3 - - - 16-Jan-25

1319 Laksam Store SME Initial CRAB-SE 3 - - - 19-Mar-25

1320 Laksmipur LPG Auto Station SME Surveillance CRAB-SE 3 - - - 15-Jun-24

1321 Lam Mim Apparels Limited Corporate Surveillance BBB2 BBB2(Lr) ST-3 Stable 06-Sep-24

1322 Lam Mim Associates Corporate Surveillance BBB2 BBB2(Lr) ST-3 Stable 30-Dec-24

1323 Lamiya International SME Initial Rating CRAB-SE 4 - - - 14-Nov-24

1324 Lamya Enterprise SME Initial CRAB-SE 3 - - - 30-Jan-25

1325 Latif Pharmacy SME Surveillance CRAB-SE 3 - - - 07-Nov-24

1326 Lavender Convenience Store Ltd SME Initial CRAB-SE 2 - - - 13-Feb-25

1327 Laxmi Narayan Vander SME Initial Rating CRAB-SE 3 - - - 19-Dec-24

1328 Legacy Fashion Ltd. Corporate Surveillance BB3 B1(Lr) ST-4, ST-5 Stable 15-Dec-24

1329 Lexel Knitwear Limited SME Initial Rating CRAB-SE 3 - - - 10-Oct-24

1330 Life Line Enterprise SME Initial Rating CRAB-SE 3 - - - 24-May-24

1331 Lighting Fashion SME Surveillance CRAB-SE 3 - - - 30-Aug-24

1332 Lions Eye Hospital SME Initial Rating CRAB-ME 3 - - - 08-Aug-24

1333 Lipon Garments SME Initial CRAB-SE 3 - - - 27-Feb-25

1334 Lira Doors Ltd. Corporate Surveillance BBB1 BBB1(Lr) ST-1,ST-3 Stable 20-Nov-24

1335 Lira Industrial Enterprise Ltd Corporate Surveillance A2 A2(Lr) ST-3 Stable 29-Sep-24

1336 Lira Polymer Industries Corporate Surveillance BBB1 BBB1(Lr) ST-3 Stable 20-Nov-24

1337 Liton Advertising SME Surveillance CRAB-SE 3 - - - 27-Nov-24

1338 Liton Enterprise SME Surveillance CRAB-SE 3 - - - 16-May-24

1339 Lodestar Fashions Ltd. Corporate Surveillance BB1 - ST-3 Stable 31-Dec-24

1340 Lohajong Steel Corporation SME Surveillance CRAB-SE 3 - - - 31-Dec-24

32
Lr-Loan rating, Pr-Project rating, SO-Structured Obligation,
 Rating Update - March 2024
(Update up to 31 March 2024)

Sl No. Name of Client/Company Company/ Rating Type Entity Loan Ratings Rating
(Alphabetical order) Rating Long Term Short Term* Outlook Validity**
Firm Type

1341 Loknath Vander SME Surveillance CRAB-SE 3 - - - 12-Nov-24

1342 Louietex Manufacturing Ltd. Corporate Surveillance BBB1 BBB1(Lr) ST-3 Stable 30-Nov-24

1343 LRB Agro Ltd Project Surveillance BBB3(Pr) - - - 13-Feb-25

1344 Lubnan Trade Consortium Limited Corporate Surveillance AA3 AA3(Lr) ST-1 Stable 04-Dec-24

1345 Lucky Acrylic and Fiber SME Surveillance CRAB-SE 3 - - - 21-Sep-24

1346 Lucky Star Apparels Ltd. Corporate Surveillance BBB3 BBB3(Lr) ST-3 Stable 15-Dec-24

1347 Lucky Stone Crusher SME Surveillance CRAB-SE 3 - - - 21-Nov-24

1348 Lucky Tyre Store & Volganizing SME Initial Rating CRAB-SE 3 - - - 06-Jun-24

1349 Ludhi Steel Merchant Corporate Initial BBB1 BBB1(Lr) ST-3 Stable 06-Feb-25

1350 Lugic Power SME Initial Rating CRAB-SE 3 - - - 19-Dec-24

1351 Luknath Muri Factory SME Surveillance CRAB-SE 3 - - - 24-May-24

1352 Luminars Engineers Associates SME Initial Rating CRAB-SE 3 - - - 25-Jun-24

1353 L'Usine Fashion Ltd. Corporate Surveillance A2 A2(Lr) ST-3 Stable 31-Aug-24

1354 Luthfur Rahman SME Initial Rating CRAB-SE 3 - - - 30-Dec-24

1355 M & G Textile Mills Ltd SME Surveillance CRAB-SE 4 - - - 12-Nov-24

1356 M A Enterprise SME Initial CRAB-SE 3 - - - 13-Feb-25

1357 M A Atob Automatic Rice Mill SME Surveillance CRAB-SE 3 - - - 10-Dec-24

1358 M A Bashar & Brothers SME Surveillance CRAB-SE 2 - - - 04-Sep-24

1359 M A Enterprise SME Initial Rating CRAB-SE 3 - - - 21-Nov-24

1360 M A Sattar & Co SME Surveillance CRAB-SE 3 - - - 02-Dec-24

1361 M A Sufian Engineering Works SME Initial Rating CRAB-SE 3 - - - 25-Dec-24

1362 M A Traders SME Initial Rating CRAB-SE 3 - - - 21-Nov-24

1363 M Alam & Sons SME Surveillance CRAB-SE 3 - - - 25-Nov-24

1364 M Alam and Company Corporate Surveillance BBB1 BBB1(Lr) ST-3 Stable 21-Mar-25

1365 M C L SME Initial Rating CRAB-SE 3 - - - 19-Sep-24

1366 M H International SME Initial Rating CRAB-SE 3 - - - 06-Jun-24

1367 M I M Dresses Ltd. SME Surveillance CRAB-ME 3 - - - 20-Dec-24

1368 M J Agro SME Initial Rating CRAB-SE 3 - - - 20-Jun-24

1369 M K Enterprise SME Initial CRAB-SE 3 - - - 13-Feb-25

1370 M M Associates Ltd Corporate Surveillance BBB2 BBB2(Lr) ST-3 Stable 23-May-24

1371 M M Fabrics SME Surveillance CRAB-SE 3 - - - 28-Sep-24

1372 M M Ispahani Limited Corporate Surveillance AA1 AA1(Lr) ST-1 Stable 29-Jun-24

1373 M M Traders SME Surveillance CRAB-SE 3 - - - 25-Mar-25

1374 M N Enterprise Corporate Surveillance BBB3 BBB3(Lr) ST-3 Stable 16-May-24

1375 M N Huda Construction Ltd. Corporate Surveillance A3 - ST-2 Stable 30-Nov-24

1376 M N Knitwear Ltd Corporate Initial Rating BB3 BB3(Lr) ST-5 Stable 21-Nov-24

1377 M N S Enterprise SME Surveillance CRAB-SE 3 - - - 24-Mar-25

1378 M R Enterprise SME Surveillance CRAB-SE 3 - - - 16-Jan-25

1379 M R Plastic Industries SME Surveillance CRAB-SE 3 - - - 22-Aug-24

1380 M R T Kithcen SME Initial Rating CRAB-SE 3 - - - 19-Dec-24

1381 M Rahman Corporate Surveillance A3 A3(Lr) ST-3 Stable 30-Dec-24

1382 M Rahman & Co SME Surveillance CRAB-SE 4 - - - 19-Nov-24

33
Lr-Loan rating, Pr-Project rating, SO-Structured Obligation,
 Rating Update - March 2024
(Update up to 31 March 2024)

Sl No. Name of Client/Company Company/ Rating Type Entity Loan Ratings Rating
(Alphabetical order) Rating Long Term Short Term* Outlook Validity**
Firm Type

1383 M Rahman Tea Co. Ltd Corporate Surveillance BBB1 BBB1(Lr) ST-3 Stable 30-Jul-24

1384 M S Enterprise Corporate Surveillance BBB1 BBB1(Lr) ST-3 Stable 07-Jun-24

1385 M Yew Fashion Limited SME Surveillance CRAB-ME 3 - - - 20-Dec-24

1386 M Zaman Construction SME Surveillance CRAB-SE 3 - - - 21-Sep-24

1387 M.B. Enterprise SME Initial Rating CRAB-SE 3 - - - 07-Nov-24

1388 Ma Enterprise SME Surveillance CRAB-SE 2 - - - 18-Aug-24

1389 Ma Mates SME Initial CRAB-SE 3 - - - 26-Mar-25

1390 Ma Moni Tyre Centre SME Surveillance CRAB-SE 3 - - - 17-Oct-24

1391 Ma O Chele Enterprise SME Initial Rating CRAB-SE 3 - - - 30-Dec-24

1392 MA Seba Agro and Fisheries Ltd SME Surveillance CRAB-SE 3 - - - 16-Jan-25

1393 Maa Dairy Farm SME Initial Rating CRAB-SE 3 - - - 30-Dec-24

1394 MAA Furniture SME Initial Rating CRAB-SE 3 - - - 16-May-24

1395 Maa New Sylhet Tyre Bazar SME Surveillance CRAB-SE 3 - - - 25-Jun-24

1396 Maa Traders SME Initial Rating CRAB-SE 3 - - - 26-Sep-24

1397 Macca Marine Ship Builders SME Surveillance CRAB-SE 3 - - - 26-Jun-24

1398 Mack Construction Corporate Initial Rating BBB2 BBB2(Lr) ST-3 Stable 05-Dec-24

1399 Madarbari Iron Mart SME Surveillance CRAB-SE 3 - - - 12-Apr-24

1400 Madina Car Parts SME Surveillance CRAB-SE 4 - - - 20-Jul-24

1401 Madina Cement Industries Limited Corporate Surveillance A1 A1(Lr) ST-3 Stable 31-Mar-24

1402 Madina Garments Limited Corporate Surveillance BBB3 BBB3(Lr) ST-3 Stable 12-Apr-24

1403 Madina Poly Fiber Limited Corporate Initial A3 - ST-3 Stable 12-Mar-25

1404 Madina Traders SME Initial Rating CRAB-SE 3 - - - 19-Dec-24

1405 Magic Works Limited Corporate Surveillance BBB2 BBB2(Lr) ST-3 Stable 14-Jun-24

1406 Magnum Steel Industries Ltd Corporate Surveillance AA3 - ST-2 Stable 28-Feb-25

1407 Mahbub & Brothers SME Surveillance CRAB-SE 3 - - - 18-Oct-24

1408 Mahbub Electronics SME Initial Rating CRAB-SE 3 - - - 07-Nov-24

1409 Mahdi & Brothers SME Initial Rating CRAB-SE 3 - - - 30-Dec-24

1410 Mahi Husking Mill SME Initial CRAB-SE 3 - - - 19-Feb-25

1411 Mahi Traders SME Initial CRAB-SE 3 - - - 16-Jan-25

1412 Mahiba Traders SME Initial Rating CRAB-SE 3 - - - 30-Dec-24

1413 Mahim Uddin SME Surveillance CRAB-SE 3 - - - 07-Nov-24

1414 Mahin Stone Crusher SME Initial CRAB-SE 3 - - - 23-Jan-25

1415 Mahmuda Enterprise SME Initial Rating CRAB-SE 3 - - - 06-Sep-24

1416 Mahmuda Trading House SME Surveillance CRAB-SE 3 - - - 16-Jun-24

1417 Majed and Brothers SME Initial CRAB-SE 3 - - - 30-Jan-25

1418 Majumder Aromatic Auto Rice Mill & Its Sister Concern SME Surveillance CRAB-SE 3 - - - 12-Nov-24

1419 Majumder Garments Ltd Corporate Surveillance A2 A2(Lr) ST-3 Stable 31-Aug-24

1420 Makcot Inernational SME Surveillance CRAB-SE 3 - - - 30-Apr-24

1421 Makka Paper & Board Mills Ltd. Corporate Surveillance A2 A2(Lr) ST-3 Stable 31-Mar-24

1422 Makka Traders SME Surveillance CRAB-SE 3 - - - 07-Jun-24

1423 Maksons Textiles Ltd. Corporate Surveillance BBB3(Pr) - - - 12-Nov-24

1424 Mala Traders SME Initial Rating CRAB-SE 3 - - - 30-Dec-24

34
Lr-Loan rating, Pr-Project rating, SO-Structured Obligation,
 Rating Update - March 2024
(Update up to 31 March 2024)

Sl No. Name of Client/Company Company/ Rating Type Entity Loan Ratings Rating
(Alphabetical order) Rating Long Term Short Term* Outlook Validity**
Firm Type

1425 Maliha Chaul Kall SME Surveillance CRAB-SE 3 - - - 14-Sep-24

1426 Malik Salt Industries Unit 2 SME Surveillance CRAB-SE 4 - - - 14-Dec-24

1427 Malik Sons SME Surveillance CRAB-SE 3 - - - 14-Dec-24

1428 Mama Bhagna Khaddo Vander SME Surveillance CRAB-SE 3 - - - 12-Nov-24

1429 Mama Bhagne Enterprise SME Initial Rating CRAB-SE 3 - - - 30-May-24

1430 Mamun Agro Prouducts Ltd Corporate Surveillance BBB2 - ST-3 Stable 10-Dec-24

1431 Mamun Departmental Store SME Initial Rating CRAB-SE 3 - - - 30-Dec-24

1432 Mamun Enterprise SME Initial Rating CRAB-SE 3 - - - 22-Aug-24

1433 Mamun Enterprise SME Surveillance CRAB-SE 3 - - - 26-Mar-25

1434 Mamun Enterprise (Janata Bank) SME Initial Rating CRAB-SE 3 - - - 30-Dec-24

1435 Mamun Medicine Center and Departmental SME Surveillance CRAB-SE 3 - - - 21-Aug-24

1436 Mamun Trading SME Surveillance CRAB-SE 3 - - - 25-Jun-24

1437 Manik & Brothers SME Initial Rating CRAB-SE 3 - - - 28-Nov-24

1438 Manik Traders SME Surveillance CRAB-SE 3 - - - 25-Apr-24

1439 Manju International SME Initial Rating CRAB-SE 3 - - - 12-Apr-24

1440 Mannan & Sons SME Surveillance CRAB-SE 3 - - - 21-Aug-24

1441 Mannan Corporation and its Sister Concern SME Surveillance CRAB-SE 3 - - - 21-Sep-24

1442 Manoj Telecom SME Surveillance CRAB-SE 3 - - - 28-Sep-24

1443 Mansur Engineering Works SME Initial Rating CRAB-SE 3 - - - 19-Dec-24

1444 Marble Di Carrara Pvt Ltd SME Surveillance CRAB-SE 3 - - - 30-Jan-25

1445 Marina Tea Co. Ltd. Corporate Surveillance BBB1 BBB1(Lr) ST-3 Stable 30-Jul-24

1446 Marine Explorer Ltd Corporate Surveillance BBB3 BBB3(Lr) ST-3 Stable 23-Jun-24

1447 Marium Textile Mills Limited Corporate Surveillance A3 A3(Lr) ST-3 Stable 30-Jun-24

1448 Mark Builders Ltd. Corporate Surveillance BBB2 BBB2(Lr) ST-3 Stable 29-Sep-24

1449 Mark Line Enterprise SME Initial Rating CRAB-SE 3 - - - 24-May-24

1450 Maruf Ahmed SME Initial CRAB-SE 3 - - - 23-Jan-25

1451 MAS Labtech Limited SME Initial Rating CRAB-SE 3 - - - 25-Dec-24

1452 Mashud & Brothers SME Surveillance CRAB-ME 3 - - - 10-Dec-24

1453 Mashud Agro Processing Food Products Ltd. Corporate Surveillance BBB1 BBB1(Lr) ST-3 Stable 10-Dec-24

1454 Mashud Fish Processing & Ice Complex Ltd. Corporate Surveillance BBB2 BBB2(Lr) ST-3 Stable 10-Dec-24

1455 Masihata Sweaters Ltd Corporate Surveillance A1 A1(Lr) ST-3 Stable 20-Mar-25

1456 Master and Sons SME Surveillance CRAB-SE 3 - - - 17-Dec-24

1457 Master Electronics & Electric SME Initial Rating CRAB-SE 3 - - - 24-Oct-24

1458 Master Simex Paper Limited Corporate Surveillance A1 A1(Lr) ST-3 Stable 30-Sep-24

1459 Mastrade International Garments Ltd Corporate Surveillance BBB1 BBB1(Lr) ST-3 Stable 25-Apr-24

1460 Masud Filling Station SME Surveillance CRAB-SE 3 - - - 09-Aug-24

1461 Masud Store SME Initial Rating CRAB-SE 3 - - - 28-Nov-24

1462 Masud Traders SME Surveillance CRAB-SE 3 - - - 14-Dec-24

1463 Masuda Sanitary SME Surveillance CRAB-SE 3 - - - 16-May-24

1464 Masuma Traders SME Surveillance CRAB-SE 3 - - - 18-Nov-24

1465 Matador Ballpen Industries Ltd Corporate Surveillance A3 A3(Lr) ST-3 Stable 31-Mar-25

1466 Matex Bangladesh Ltd. Corporate Surveillance A1 A1(Lr) ST-2 Stable 31-Dec-24

35
Lr-Loan rating, Pr-Project rating, SO-Structured Obligation,
 Rating Update - March 2024
(Update up to 31 March 2024)

Sl No. Name of Client/Company Company/ Rating Type Entity Loan Ratings Rating
(Alphabetical order) Rating Long Term Short Term* Outlook Validity**
Firm Type

1467 Matin Khadya Bhander SME Surveillance CRAB-SE 3 - - - 30-Dec-24

1468 Matrix Styles Ltd Corporate Surveillance BBB1 BBB1(Lr) ST-3 Stable 30-Jun-24

1469 Matsy Packaging Ltd Corporate Surveillance BBB3 BBB3(Lr) ST-3 Stable 25-May-24

1470 Mawlana Abdul Matin SME Initial CRAB-SE 3 - - - 26-Mar-25

1471 Max Infrastructure Ltd Corporate Surveillance AA2 AA2(Lr) ST-2 Stable 28-Feb-25

1472 Max Sweaters BD Ltd. Corporate Surveillance BBB3 BBB3(Lr) ST-3 Stable 30-Nov-24

1473 Maxcrete Ltd Project Surveillance A3(Pr) - - - 16-Jan-25

1474 Mayer Doa Enterprise SME Surveillance CRAB-SE 3 - - - 28-Dec-24

1475 Mayer Dua Saw Mill & Its Sister Concern SME Surveillance CRAB-SE 3 - - - 14-Sep-24

1476 Mazidsons Construction Ltd. Corporate Surveillance A1 A1(Lr) ST-3 Stable 15-Oct-24

1477 MB Motors SME Initial Rating CRAB-SE 3 - - - 30-Dec-24

1478 MBM Garments Ltd Corporate Surveillance A1 A1(Lr) ST-3 Stable 23-Jan-25

1479 MCMDD Enterprise SME Initial Rating CRAB-SE 3 - - - 05-Dec-24

1480 Md Abul Kalam SME Initial Rating CRAB-SE 3 - - - 24-May-24

1481 Md Atik Hussain SME Surveillance CRAB-SE 3 - - - 30-Jan-25

1482 Md Badrul Iqbal Ltd SME Surveillance CRAB-SE 3 - - - 22-Mar-25

1483 Md Dollar SME Surveillance CRAB-SE 3 - - - 28-Dec-24

1484 Md Hammad Ali SME Surveillance CRAB-SE 3 - - - 10-Dec-24

1485 Md Jahed Iqbal SME Surveillance CRAB-SE 2 - - - 07-Nov-24

1486 Md Kamal Uddin Arabi SME Initial Rating CRAB-SE 3 - - - 25-Dec-24

1487 Md Nasir Uddin SME Initial Rating CRAB-SE 3 - - - 13-Jun-24

1488 Md Saiful Islam SME Initial CRAB-SE 3 - - - 06-Feb-25

1489 Md Shafi Alam Unus SME Initial CRAB-SE 3 - - - 27-Feb-25

1490 Md. Khurshaduzzaman SME Surveillance CRAB-SE 3 - - - 18-Jul-24

1491 Md. Musa Sowdagor Corporate Surveillance A3 - ST-3 Stable 28-Dec-24

1492 Md. Rakib Uddin Dewan & Md. Rukon Uddin Dewan Corporate Surveillance BBB2 BBB2(Lr) - Stable 30-Jun-24

1493 Medha Enterprise SME Surveillance CRAB-SE 3 - - - 05-Mar-25

1494 Medi Tact Surgical Works SME Initial Rating CRAB-SE 3 - - - 07-Nov-24

1495 Medionics Imaging Ltd. SME Surveillance CRAB-SE 3 - - - 08-Sep-24

1496 Meditec Lifescinece Solutions Ltd SME Initial Rating CRAB-SE 3 - - - 25-Jul-24

1497 Meditel PVT LTd. SME Surveillance CRAB-SE 3 - - - 08-Sep-24

1498 Meditrade Corporation SME Surveillance CRAB-SE 4 - - - 27-Nov-24

1499 Meek Knit Ltd SME Surveillance CRAB-ME 3 - - - 30-Jun-24

1500 Meena Sweets & Confectioneries Ltd Corporate Surveillance BBB1 BBB1(Lr) ST-3 Stable 28-Jun-24

1501 Mega Fashionwear Ltd Corporate Surveillance BBB2 BBB2(Lr) ST-3 Stable 20-Mar-25

1502 Mega Yarn Dyeing Mills Ltd Corporate Surveillance BBB1 BBB1(Lr) ST-3 Stable 20-Mar-25

1503 Meghna Knit Composite Ltd Corporate Surveillance AA3 AA3(Lr) ST-2 Stable 31-Mar-25

1504 Meghna Mosaic & Sanitary SME Surveillance CRAB-SE 3 - - - 15-Sep-24

1505 Meghna Star Cables & Electrical Appliances Ltd Corporate Surveillance A3 A3(Lr) ST-3 Stable 16-May-24

1506 Megla Chaul o Atta kall SME Initial Rating CRAB-SE 3 - - - 05-Apr-24

1507 Mehedi Construction SME Surveillance CRAB-SE 3 - - - 09-Jun-24

1508 Mehedi Enterprise SME Surveillance CRAB-SE 3 - - - 13-Jun-24

36
Lr-Loan rating, Pr-Project rating, SO-Structured Obligation,
 Rating Update - March 2024
(Update up to 31 March 2024)

Sl No. Name of Client/Company Company/ Rating Type Entity Loan Ratings Rating
(Alphabetical order) Rating Long Term Short Term* Outlook Validity**
Firm Type

1509 Mehedi Hasan & Co Corporate Surveillance A3 - ST-3 Stable 28-Sep-24

1510 Mehedi Traders SME Surveillance CRAB-SE 3 - - - 23-Dec-24

1511 Mehenaz Trading Corporation SME Surveillance CRAB-SE 3 - - - 25-May-24

1512 Mehnaz Styles & Craft Ltd Corporate Surveillance A2 A2(Lr) ST-3 Stable 30-Jun-24

1513 Memorial Holding Ltd SME Initial Rating CRAB-SE 3 - - - 19-Sep-24

1514 Mens Logistics SME Initial CRAB-SE 3 - - - 13-Feb-25

1515 Mercantile Color Print & Pack Corporate Initial Rating BBB2 BBB2(Lr) ST-3 Stable 16-May-24

1516 MH Chemical Works SME Surveillance CRAB-SE 3 - - - 04-Dec-24

1517 Miami Roto Film Products Limited SME Surveillance CRAB-SE 3 - - - 13-Feb-25

1518 Microtech Corporate Surveillance BBB1 BBB1(Lr) ST-3 Stable 19-Nov-24

1519 MID Asia Fashion Ltd. Corporate Surveillance BBB1 - ST-3 Stable 31-Dec-24

1520 Midland East Power Company Ltd Corporate Surveillance A2 A2(Lr) ST-3 Stable 28-Feb-25

1521 Milad Construction SME Initial CRAB-SE 3 - - - 13-Feb-25

1522 Millenium Syndicate SME Surveillance CRAB-SE 3 - - - 31-Mar-24

1523 Milon and Brothers (Haji Gous Miah) SME Surveillance CRAB-SE 2 - - - 18-Aug-24

1524 Milon Fisheries SME Initial CRAB-SE 3 - - - 13-Feb-25

1525 Milon Store SME Initial Rating CRAB-SE 3 - - - 08-Aug-24

1526 Milon Traders SME Initial CRAB-SE 3 - - - 12-Mar-25

1527 Milon Watch Service SME Surveillance CRAB-SE 3 - - - 26-Sep-24

1528 MIM Design Limited Corporate Surveillance A3 A3(Lr) ST-3 Stable 19-Dec-24

1529 Mim Development Engineering Ltd. SME Surveillance CRAB-SE 3 - - - 28-Dec-24

1530 MIM Sweaters Limited Corporate Surveillance BBB3 BBB3(Lr) ST-3 Stable 19-Dec-24

1531 Minar Automatic Rice Mill SME Surveillance CRAB-SE 5 - - - 29-Oct-24

1532 Minhaj Chaul Kal SME Surveillance CRAB-SE 3 - - - 28-Sep-24

1533 MIR Info Systems Limited Corporate Initial Rating A3 A3(Lr) ST-3 Stable 22-Aug-24

1534 Mir Trading SME Surveillance CRAB-SE 3 - - - 14-Jun-24

1535 Mirsarai Filling Station SME Surveillance CRAB-SE 3 - - - 07-Feb-25

1536 Mirza Auto Rice Mills Ltd. Corporate Surveillance BB1 BB1(Lr) ST-4 Stable 19-Nov-24

1537 Misami Garments Ltd. Corporate Surveillance A2 A2(Lr) ST-3 Stable 31-Oct-24

1538 Mitali Stone Crusher SME Surveillance CRAB-SE 3 - - - 30-Sep-24

1539 Mithela Textile Industry SME Surveillance CRAB-SE 3 - - - 29-Jun-24

1540 Mitu Ice Cream Factory SME Initial CRAB-SE 3 - - - 19-Mar-25

1541 Mitu Traders SME Initial Rating CRAB-SE 3 - - - 01-Aug-24

1542 Mitul Enterprise SME Initial Rating CRAB-SE 3 - - - 06-Sep-24

1543 MM Auto Rice Mill SME Initial CRAB-SE 3 - - - 16-Jan-25

1544 MM Enterprise SME Surveillance CRAB-SE 3 - - - 24-Jun-24

1545 MM Ship Breaking Industries Corporate Initial BBB2 - ST-3 Stable 27-Feb-25

1546 MMDH Business Solution SME Initial Rating CRAB-SE 3 - - - 22-Aug-24

1547 MN Fishing Ltd Corporate Surveillance BBB3 BBB3(Lr) ST-3 Stable 21-Apr-24

1548 Mobile Heaven SME Initial Rating CRAB-SE 3 - - - 14-Nov-24

1549 Mobile Network SME Surveillance CRAB-SE 3 - - - 30-Dec-24

1550 Mobile Tele Solutions SME Surveillance CRAB-SE 3 - - - 23-Jan-25

37
Lr-Loan rating, Pr-Project rating, SO-Structured Obligation,
 Rating Update - March 2024
(Update up to 31 March 2024)

Sl No. Name of Client/Company Company/ Rating Type Entity Loan Ratings Rating
(Alphabetical order) Rating Long Term Short Term* Outlook Validity**
Firm Type

1551 Modina Bread and Biscuit Factory SME Initial CRAB-SE 3 - - - 26-Mar-25

1552 Modina Filling Station & Its Sister Concern SME Surveillance CRAB-SE 3 - - - 07-Apr-24

1553 Modina Steel Corporation SME Surveillance CRAB-SE 3 - - - 24-Oct-24

1554 Mofizul Store SME Initial Rating CRAB-SE 3 - - - 26-Sep-24

1555 Mohammad Ali Traders SME Initial CRAB-SE 3 - - - 06-Feb-25

1556 Mohammed Hasan SME Surveillance CRAB-SE 3 - - - 28-Dec-24

1557 Mohammed Jamal Ullah Corporate Surveillance A1 A1(Lr) ST-3 Stable 29-Sep-24

1558 Mohara Asian Apparels Ltd Corporate Surveillance BBB1 BBB1(Lr) ST-3 Stable 31-Jan-25

1559 Moharaj Knit Fabrics SME Initial Rating CRAB-SE 3 - - - 12-Apr-24

1560 Mohini Trade International SME Initial Rating CRAB-SE 3 - - - 05-Dec-24

1561 Mohiuddin SME Surveillance CRAB-SE 3 - - - 20-Jul-24

1562 Mohsen Aowlia Traders SME Surveillance CRAB-SE 3 - - - 10-Dec-24

1563 Mokalm Ltd Corporate Surveillance BBB1 - - Stable 19-Feb-25

1564 Mokter Verities Store SME Surveillance CRAB-SE 3 - - - 30-Aug-24

1565 Molla Bricks SME Initial Rating CRAB-SE 3 - - - 12-Sep-24

1566 Molla Chaul Kall SME Surveillance CRAB-SE 3 - - - 18-Oct-24

1567 Molla Enterprise SME Initial CRAB-SE 3 - - - 05-Mar-25

1568 Molla Salt (Triple Refined) Industry Ltd Corporate Surveillance A2 A2(Lr) ST-3 Stable 30-Apr-24

1569 Molla Salt Agro Food & Beverage Ltd Corporate Initial Rating BBB3 BBB3(Lr) ST-3 Stable 18-Jul-24

1570 Molla Traders SME Initial Rating CRAB-SE 3 - - - 22-Aug-24

1571 MOM Crafts Ltd Corporate Initial BBB3 - - Stable 06-Feb-25

1572 Mom Tex Expo Ltd. Corporate Surveillance A1 A1(Lr) ST-3 Stable 28-Dec-24

1573 Mom Tex Ltd Corporate Surveillance A2 A2(Lr) ST-3 Stable 26-Dec-24

1574 Momen Real Estates Limited Corporate Initial Rating A3 A3(Lr) ST-3 Stable 05-Apr-24

1575 Momena Auto Corporation SME Surveillance CRAB-SE 3 - - - 10-Oct-24

1576 Momi Traders SME Initial CRAB-SE 3 - - - 23-Jan-25

1577 Momin Khan & Brothers SME Initial Rating CRAB-SE 3 - - - 25-Jul-24

1578 Momo Inn Ltd Corporate Surveillance BBB3 BBB3(Lr) ST-3 Stable 29-Mar-25

1579 Monalisa Ceramics (BD) Ltd. Corporate Surveillance A2 A2(Lr) ST-3 Stable 31-Dec-24

1580 Monarch Engineers Corporate Surveillance BBB3 BBB3(Lr) ST-3 Stable 11-Dec-24

1581 Mondal Dairy Farm SME Surveillance CRAB-SE 3 - - - 26-Sep-24

1582 Mondal Electronics & Electric SME Surveillance CRAB-SE 3 - - - 29-Jun-24

1583 Mondal Traders SME Surveillance CRAB-SE 2 - - - 21-Mar-25

1584 Mondol Chaul Kall SME Initial Rating CRAB-SE 3 - - - 26-Sep-24

1585 Mondol Enterprise SME Surveillance CRAB-SE 3 - - - 10-Dec-24

1586 Mone Rekho Sharee Ghor SME Initial Rating CRAB-SE 3 - - - 30-Dec-24

1587 Moni Traders SME Initial Rating CRAB-SE 3 - - - 30-Dec-24

1588 Monipur Tea Co. Ltd. Corporate Surveillance A3 A3(Lr) ST-3 Stable 30-Jul-24

1589 Monir Traders SME Initial Rating CRAB-SE 3 - - - 24-May-24

1590 MONIRAS Corporation SME Initial Rating CRAB-SE 3 - - - 12-Sep-24

1591 Monjur Alam & Brothers SME Initial Rating CRAB-SE 3 - - - 19-Dec-24

1592 Monoronjon Saha SME Initial Rating CRAB-SE 3 - - - 30-Dec-24

38
Lr-Loan rating, Pr-Project rating, SO-Structured Obligation,
 Rating Update - March 2024
(Update up to 31 March 2024)

Sl No. Name of Client/Company Company/ Rating Type Entity Loan Ratings Rating
(Alphabetical order) Rating Long Term Short Term* Outlook Validity**
Firm Type

1593 Monowara Trading SME Surveillance CRAB-ME 3 - - - 13-Jun-24

1594 Monsour & Brothers SME Surveillance CRAB-SE 3 - - - 21-Nov-24

1595 Monzil Flour Mill SME Surveillance CRAB-SE 3 - - - 18-Jul-24

1596 Monzil Foods SME Surveillance CRAB-SE 3 - - - 25-Jul-24

1597 Moonlight Pet Flakes Industry & Its Sister Concern SME Initial Rating CRAB-SE 4 - - - 19-Dec-24

1598 Moonlux Apparels Ltd. Corporate Surveillance BBB3 BBB3(Lr) ST-3 Stable 28-Sep-24

1599 Moonlux Knit Composite Ltd. Corporate Surveillance BBB3 BBB3(Lr) ST-3 Stable 28-Sep-24

1600 Moontaha Apparels Limited Corporate Initial Rating BBB2 BBB2(Lr) ST-3 Stable 17-Oct-24

1601 Moslem Uddin SME Initial Rating CRAB-SE 3 - - - 30-Oct-24

1602 Mostafiz & Brothers SME Surveillance CRAB-ME 3 - - - 09-Aug-24

1603 Mostafizur Agro and Fisheries SME Initial CRAB-SE 3 - - - 27-Feb-25

1604 Mostofa Motors Limited Corporate Surveillance BBB2 BBB2(Lr) ST-3 Stable 01-Jun-24

1605 Mother Land Crop Care SME Initial Rating CRAB-SE 3 - - - 24-Oct-24

1606 Mothers Care SME Surveillance CRAB-SE 3 - - - 16-Aug-24

1607 Motiur Syndicate SME Initial Rating CRAB-SE 3 - - - 10-Oct-24

1608 Mouchak Knit Composite Ltd Corporate Surveillance A3 A3(Lr) ST-3 Stable 30-Jun-24

1609 Moula Boksh Karim Boksh Ltd SME Surveillance CRAB-SE 2 - - - 19-Feb-25

1610 Mousumi Chaul Kal SME Surveillance CRAB-SE 2 - - - 30-Dec-24

1611 Mozumder Enterprise SME Surveillance CRAB-SE 2 - - - 02-Mar-25

1612 Mozzem Traders SME Surveillance CRAB-SE 3 - - - 28-Dec-24

1613 Mridha Enterprise SME Surveillance CRAB-SE 3 - - - 14-Mar-25

1614 MRM International Corporate Surveillance BBB2 - ST-3 Stable 01-Feb-25

1615 Ms Jahir Store SME Initial Rating CRAB-SE 3 - - - 26-Sep-24

1616 MS Nazrul Enterprise SME Initial Rating CRAB-SE 3 - - - 26-Sep-24

1617 MSA Spinning Ltd. Corporate Surveillance A3 A3(Lr) ST-3 Stable 31-Dec-24

1618 MU Fashion Limited Corporate Surveillance BBB3 BBB3(Lr) ST-3 Stable 19-Feb-25

1619 Muffttall Enterprise Limited SME Surveillance CRAB-SE 3 - - - 14-Dec-24

1620 Muhammad Abu Taher SME Initial Rating CRAB-SE 3 - - - 20-Jun-24

1621 Muhin Enterprise SME Initial Rating CRAB-SE 3 - - - 05-Dec-24

1622 Mujib Enterprise SME Initial CRAB-SE 3 - - - 06-Feb-25

1623 Mukti Furniture SME Initial Rating CRAB-SE 3 - - - 30-Dec-24

1624 Muktijhuddha Haidar Ali General Hospital & Diagnostic Center

SME Initial Rating CRAB-SE 3 - - - 25-Dec-24

1625 Multi Safh Limited Corporate Surveillance BB1 BB1(Lr) ST-4 Stable 30-Jun-24

1626 Multi Trade Enterprise Ltd Corporate Surveillance BBB1 BBB1(Lr) ST-3 Stable 28-Feb-25

1627 Multiple Health Pharma Ltd SME Surveillance CRAB-SE 3 - - - 05-Nov-24

1628 Multiqo Trade Ltd SME Surveillance CRAB-SE 3 - - - 18-Jul-24

1629 Muna Travels and Tours Ltd Corporate Surveillance BBB3 - ST-4 Stable 13-Feb-25

1630 Munayam Khan Babul SME Initial Rating CRAB-SE 5 - - - 30-Dec-24

1631 Munshi Enterprise SME Initial CRAB-SE 3 - - - 13-Feb-25

1632 Munshi Meah & Sons & its Sister Concerns SME Initial Rating CRAB-SE 3 - - - 20-Jun-24

1633 Murad Apparels Ltd Corporate Surveillance BBB2 BBB2(Lr) ST-3 Stable 29-Jun-24

1634 Murad Traders SME Surveillance CRAB-SE 3 - - - 26-Mar-25

39
Lr-Loan rating, Pr-Project rating, SO-Structured Obligation,
 Rating Update - March 2024
(Update up to 31 March 2024)

Sl No. Name of Client/Company Company/ Rating Type Entity Loan Ratings Rating
(Alphabetical order) Rating Long Term Short Term* Outlook Validity**
Firm Type

1635 Murshed Brothers Tannery Limited SME Surveillance CRAB-SE 3 - - - 11-Dec-24

1636 Mustak Trading & Conducting East SME Surveillance CRAB-SE 3 - - - 25-Jun-24

1637 Mutual Faith International SME Surveillance CRAB-SE 3 - - - 30-Dec-24

1638 Mutual Food Products Limited Corporate Surveillance A3 A3(Lr) ST-3 Stable 11-May-24

1639 Mutual Milk Products Limited Corporate Initial BBB1 BBB1(Lr) ST-3 Stable 05-Mar-25

1640 Mutual Trading Company Ltd Corporate Surveillance BBB1 BBB1(Lr) ST-3 Stable 05-Mar-25

1641 Muvi Traders SME Initial Rating CRAB-SE 3 - - - 24-Oct-24

1642 Mysha Accessories and Packaging SME Surveillance CRAB-SE 3 - - - 01-Mar-25

1643 MZM (CEPZ) Limited Corporate Surveillance A3 A3(Lr) ST-2 Stable 15-May-24

1644 N S Shipping Lines SME Initial CRAB-SE 3 - - - 13-Feb-25

1645 N S Enterprise SME Initial CRAB-SE 3 - - - 30-Jan-25

1646 Nabarun Bricks Manufacturing SME Surveillance CRAB-ME 3 - - - 15-Jun-24

1647 Nabarun Trading SME Surveillance CRAB-SE 3 - - - 15-Jun-24

1648 Nabila Trading SME Initial Rating CRAB-SE 3 - - - 30-Jun-24

1649 Nabir Petroleum & LPG Filling Station SME Initial Rating CRAB-SE 3 - - - 05-Apr-24

1650 Nabisco Biscuit & Bread Factory Ltd. SME Surveillance CRAB-ME 2 - - - 29-Dec-24

1651 Nabisco Consumer Goods Ltd. Corporate Initial Rating BBB3 BBB3(Lr) ST-3 Stable 08-Aug-24

1652 NAF Fashion Limited SME Initial CRAB-SE 3 - - - 05-Mar-25

1653 Nafisa Apparels Ltd. Corporate Surveillance BBB3 BBB3(Lr) ST-3 Stable 31-Dec-24

1654 Nagasaki Ltd Corporate Surveillance BBB1 - - Stable 19-Mar-25

1655 Nahar Automatic Rice Mill SME Initial Rating CRAB-SE 3 - - - 30-Dec-24

1656 Nahar Chaul Kal and its Sister Concern SME Surveillance CRAB-SE 5 - - - 10-Mar-25

1657 Nahar Chicks Limited Corporate Initial BBB2 - - Stable 12-Mar-25

1658 Nahar Enterprise Corporate Surveillance BBB2 BBB2(Lr) ST-3 Stable 30-Dec-24

1659 Nahar Enterprise (EXIM) SME Initial Rating CRAB-SE 3 - - - 02-Dec-24

1660 Nahar Poultry Farm SME Surveillance CRAB-SE 3 - - - 26-Mar-25

1661 Nahar Traders SME Surveillance CRAB-SE 3 - - - 13-Jan-25

1662 Nahid Agro Farm SME Surveillance CRAB-SE 3 - - - 29-Aug-24

1663 Nahid Plastic (BD) Ltd Corporate Surveillance BBB1 - ST-3 Stable 31-Jul-24

1664 Nahin Trade International SME Surveillance CRAB-SE 3 - - - 05-Nov-24

1665 Nahin Traders SME Initial CRAB-SE 3 - - - 13-Feb-25

1666 NAM Enterprise SME Surveillance CRAB-SE 3 - - - 31-May-24

1667 Namreen Enterprise Ltd Corporate Initial AA3 - - Stable 30-Jan-25

1668 Nanji Enterprise SME Surveillance CRAB-SE 3 - - - 29-Dec-24

1669 Nannu Spinning Mills Ltd. Corporate Surveillance BBB1 BBB1(Lr) ST-3 Stable 30-Nov-24

1670 Nannu Textile Mills Ltd. Corporate Surveillance BBB1 BBB1(Lr) ST-3 Stable 30-Nov-24

1671 Nanu and Brothers SME Initial CRAB-SE 3 - - - 27-Feb-25

1672 Naogaon Machineries SME Initial CRAB-SE 3 - - - 23-Jan-25

1673 Narangi Agro Farms Limited Corporate Initial Rating BBB2 BBB2(Lr) - Stable 30-Dec-24

1674 Narayan Mill SME Initial Rating CRAB-SE 3 - - - 30-Dec-24

1675 Narayan Traders SME Initial Rating CRAB-SE 3 - - - 06-Sep-24

1676 Nashid Enterprise SME Surveillance CRAB-SE 3 - - - 25-Apr-24

40
Lr-Loan rating, Pr-Project rating, SO-Structured Obligation,
 Rating Update - March 2024
(Update up to 31 March 2024)

Sl No. Name of Client/Company Company/ Rating Type Entity Loan Ratings Rating
(Alphabetical order) Rating Long Term Short Term* Outlook Validity**
Firm Type

1677 Nasir Uddin SME Initial Rating CRAB-SE 3 - - - 26-Sep-24

1678 Nasiruddin Traders SME Surveillance CRAB-SE 3 - - - 04-May-24

1679 National Auto Rice Mill Corporate Surveillance BBB2 - ST-3 Stable 30-Jul-24

1680 National Auto Rice Mill Unit-3 Corporate Surveillance BBB3 BBB3(Lr) ST-4 Stable 30-Jul-24

1681 National Machinery SME Surveillance CRAB-SE 3 - - - 15-Aug-24

1682 National Machinery Corporation SME Surveillance CRAB-SE 3 - - - 16-Jun-24

1683 National Rice Agency SME Initial CRAB-SE 3 - - - 16-Jan-25

1684 Nationtech Communications Ltd. Corporate Surveillance A3 A3(Lr) ST-3 Stable 31-Dec-24

1685 Nature Plywood & Particle Board Industries Ltd. Corporate Surveillance BBB3 BBB3(Lr) ST-3 Stable 06-Sep-24

1686 Navana Batteries Limited Corporate Surveillance A2 A2(Lr) ST-3 Stable 31-May-24

1687 Navana Building Products Ltd Corporate Surveillance A3 A3(Lr) - Stable 19-Feb-25

1688 Navana Construction Limited Corporate Surveillance A3 A3(Lr) ST-3 Stable 31-Mar-24

1689 Navana Foods Ltd. Corporate Surveillance A3 A3(Lr) - Stable 24-Oct-24

1690 Navana Limited Corporate Surveillance AA3 AA3(Lr) ST-2 Stable 30-Mar-25

1691 Navana Plastic SME Surveillance CRAB-SE 3 - - - 29-Oct-24

1692 Navana Real Estate Limited Corporate Surveillance A1 A1(Lr) ST-3 Stable 28-Feb-25

1693 Navid Knit Fabric Limited SME Surveillance CRAB-ME 3 - - - 23-Sep-24

1694 Nawal Construction SME Surveillance CRAB-SE 3 - - - 28-Dec-24

1695 Nayan Enterprise SME Initial Rating CRAB-SE 3 - - - 22-Aug-24

1696 Nayeem Enterprise SME Initial CRAB-SE 3 - - - 30-Jan-25

1697 Nazim Enterprise SME Surveillance CRAB-SE 3 - - - 09-Aug-24

1698 Nazim Uddin & Brothers SME Surveillance CRAB-SE 3 - - - 30-Oct-24

1699 Nazma Timber and Traders SME Surveillance CRAB-SE 3 - - - 22-Aug-24

1700 Needle Work Ltd Corporate Surveillance BBB2 - ST-3 Stable 12-Mar-25

1701 Needs Services Ltd. SME Surveillance CRAB-SE 3 - - - 30-Jul-24

1702 Neer Advertising SME Initial Rating CRAB-SE 3 - - - 26-Sep-24

1703 Nehan Traders Corporate Surveillance BBB1 BBB1(Lr) ST-3 Stable 20-Jun-24

1704 Neo Printech BD Ltd. Corporate Surveillance BBB3 BBB3(Lr) ST-3 Stable 30-Sep-24

1705 Neo Zipper Company Limited Corporate Surveillance A1 A1(Lr) ST-3 Stable 29-Apr-24

1706 Neotec Medical Services Ltd SME Initial CRAB-SE 3 - - - 26-Mar-25

1707 Neptune Electric Electronics Mechanical & Engineering SME Surveillance CRAB-SE 3 - - - 28-Nov-24

1708 NES Trading Limited Corporate Initial Rating BBB3 - ST-3 Stable 18-Oct-24

1709 NES Trading Limited (SME) SME Surveillance CRAB-SE 2 - - - 11-Sep-24

1710 Nescorp Ltd. Corporate Surveillance BBB2(Pr) - - - 30-Dec-24

1711 Network Apparels Ltd Corporate Surveillance BBB1 BBB1(Lr) ST-3 Stable 14-Sep-24

1712 Network Clothing Ltd. Corporate Surveillance BBB1 BBB1(Lr) ST-3 Stable 04-Nov-24

1713 New Amin Jewellers Corporate Surveillance BBB1 BBB1(Lr) ST-3 Stable 31-Mar-24

1714 New Auto Galaxy Corporate Surveillance BBB3 BBB3(Lr) ST-3 Stable 10-Dec-24

1715 New Big Bazar SME Initial Rating CRAB-SE 3 - - - 30-Dec-24

1716 New Bogdad Rice Mill Corporate Surveillance BBB2 BBB2(Lr) ST-3 Stable 30-Jun-24

1717 New Boss Bricks & Its Sister Concern SME Surveillance CRAB-SE 3 - - - 21-Aug-24

1718 New Delux Foam SME Initial Rating CRAB-SE 3 - - - 30-Oct-24

41
Lr-Loan rating, Pr-Project rating, SO-Structured Obligation,
 Rating Update - March 2024
(Update up to 31 March 2024)

Sl No. Name of Client/Company Company/ Rating Type Entity Loan Ratings Rating
(Alphabetical order) Rating Long Term Short Term* Outlook Validity**
Firm Type

1719 New Generation Fashion Ltd Corporate Surveillance BBB1 - ST-3 Stable 12-Mar-25

1720 New Horizon BD Ltd SME Initial Rating CRAB-ME 3 - - - 06-Jun-24

1721 New Iqbal Enterprise SME Surveillance CRAB-SE 3 - - - 26-Nov-24

1722 New Jarna Pharmacy SME Surveillance CRAB-SE 3 - - - 15-Jun-24

1723 New Modina Dry Process SME Initial CRAB-SE 4 - - - 05-Mar-25

1724 New Moytri Stone Crushing Plant SME Surveillance CRAB-SE 2 - - - 06-Sep-24

1725 New Noor Construction SME Surveillance CRAB-SE 3 - - - 19-Feb-25

1726 New Progoti Traders SME Surveillance CRAB-SE 3 - - - 28-Sep-24

1727 New Rony Store SME Initial Rating CRAB-SE 3 - - - 12-Dec-24

1728 New Star Hi Lon Company Limited Corporate Surveillance BBB2 BBB2(Lr) ST-3 Stable 12-Nov-24

1729 New Sylhet Venus Jewelers 2 SME Surveillance CRAB-SE 3 - - - 30-Jan-25

1730 New Technology Systems Ltd SME Initial Rating CRAB-SE 3 - - - 19-Dec-24

1731 Newaz Enterprise SME Initial Rating CRAB-SE 3 - - - 30-Dec-24

1732 Newaz Steel Ltd Corporate Surveillance BBB1 BBB1(Lr) ST-3 Stable 31-Dec-24

1733 Newtex Knit Fashion Limited Corporate Surveillance BBB2 BBB2(Lr) ST-3 Positive 30-May-24

1734 Next Accessories Limited Corporate Surveillance BBB3 BBB3(Lr) ST-4 Stable 29-Jun-24

1735 Nextgen Style Ltd Corporate Surveillance BBB1 - ST-3 Stable 12-Mar-25

1736 Neyamat Shah Enterprise SME Initial Rating CRAB-ME 3 - - - 14-Nov-24

1737 NHT Fashions Ltd Corporate Surveillance AA3 - ST-2 Stable 15-Feb-25

1738 Niamot Jutex Manufacturing Co Limited Corporate Initial Rating BBB3 - - - 25-Jun-24

1739 Niaz & Brothers SME Surveillance CRAB-SE 3 - - - 02-Jun-24

1740 Nice Denim Mills Ltd Corporate Surveillance AA2 AA2(Lr) ST-2 Stable 31-Mar-25

1741 Nice Synthetic Yarn Mills Ltd. Corporate Surveillance A2 A2(Lr) ST-3 Stable 15-Sep-24

1742 Nikki Thai Aluminium Industries Limited Corporate Surveillance A3 A3(Lr) ST-3 Stable 10-Jun-24

1743 Nilu Trade International SME Initial Rating CRAB-SE 3 - - - 30-Oct-24

1744 Nina Holdings Ltd Corporate Surveillance AA3 AA3(Lr) ST-2 Stable 31-Jan-25

1745 Nipa Traders & Its Sister Concern SME Surveillance CRAB-SE 3 - - - 06-Sep-24

1746 Nippon Computer SME Initial CRAB-SE 3 - - - 19-Feb-25

1747 Nipu Furniture SME Initial Rating CRAB-SE 3 - - - 19-Dec-24

1748 Nishan Enterprise SME Initial CRAB-SE 3 - - - 27-Feb-25

1749 Nishita Foods SME Surveillance CRAB-ME 2 - - - 16-May-24

1750 NNS Solutions Ltd SME Surveillance CRAB-SE 3 - - - 25-Mar-25

1751 Noakhali White Gold Limited SME Surveillance CRAB-SE 3 - - - 19-Nov-24

1752 Noman Fabrics Limited Corporate Surveillance A2 A2(Lr) ST-3 Stable 30-Jun-24

1753 Noman Home Textile Mills Ltd Corporate Surveillance AA3 AA3(Lr) ST-3 Stable 30-Jun-24

1754 Noman Spinning Mills Limited Corporate Surveillance A2 A2(Lr) ST-3 Stable 30-Jun-24

1755 Noman Terry Towel Mills Ltd Corporate Surveillance AA3 AA3(Lr) ST-2 Stable 31-Mar-25

1756 Noman Textile Mills Limited Corporate Surveillance AA3 AA3(Lr) ST-3 Stable 30-Jun-24

1757 Noor Rice Mill SME Initial Rating CRAB-SE 3 - - - 12-Dec-24

1758 Noor Ware & Motor Parts SME Surveillance CRAB-SE 3 - - - 30-Aug-24

1759 Noorpuri Tea Holdings Limited Corporate Initial Rating BB1 BB1(Lr) ST-3 Stable 16-May-24

1760 Noraja Enterprise SME Initial Rating CRAB-SE 3 - - - 30-Oct-24

42
Lr-Loan rating, Pr-Project rating, SO-Structured Obligation,
 Rating Update - March 2024
(Update up to 31 March 2024)

Sl No. Name of Client/Company Company/ Rating Type Entity Loan Ratings Rating
(Alphabetical order) Rating Long Term Short Term* Outlook Validity**
Firm Type

1761 Norp Knit Industries Ltd. Corporate Surveillance AA2 AA2(Lr) ST-2 Stable 17-Sep-24

1762 North Bengal Grain Industries Ltd. SME Surveillance CRAB-ME 3 - - - 25-Nov-24

1763 North South Agro Farm SME Initial Rating CRAB-SE 3 - - - 17-Oct-24

1764 North South Seed Ltd Corporate Surveillance BBB2 BBB2(Lr) ST-3 Stable 08-May-24

1765 Northern Hatcheries Ltd. Corporate Surveillance BB2 BB2(Lr) ST-4 Stable 30-Nov-24

1766 Nourdjana Trade International SME Surveillance CRAB-SE 3 - - - 31-Jan-25

1767 Nowapara Jute Mills Limited Corporate Initial BBB1 BBB1(Lr) ST-3 Stable 16-Jan-25

1768 Nowpara Cold Storage (Pvt) Limited Corporate Surveillance A2 A2(Lr) ST-3 Stable 13-Jun-24

1769 Noyon Cold Store SME Initial Rating CRAB-SE 3 - - - 15-Aug-24

1770 NS Construction SME Surveillance CRAB-ME 2 - - - 31-Jan-25

1771 NTR Consortium Limited SME Surveillance CRAB-SE 3 - - - 28-Sep-24

1772 Nuovo Shoes Ltd. Corporate Surveillance BBB1 BBB1(Lr) ST-3 Stable 27-Sep-24

1773 Nur Bricks & Co SME Surveillance CRAB-SE 3 - - - 07-Jun-24

1774 Nur E Alahee & Brothers (Pvt.) Ltd. Corporate Surveillance BBB2 BBB2(Lr) ST-3 Stable 30-Sep-24

1775 Nur Fabrics SME Surveillance CRAB-SE 3 - - - 24-May-24

1776 Nur Jahan & Sons SME Initial Rating CRAB-ME 3 - - - 26-Sep-24

1777 Nurul Amin & Its Sister Concern SME Initial Rating CRAB-SE 3 - - - 26-Sep-24

1778 Nurul Huda Filling Station Corporate Surveillance BBB3 BBB3(Lr) ST-3 Stable 30-Jun-24

1779 Nurul Islam SME Surveillance CRAB-SE 3 - - - 18-Nov-24

1780 Nurul Islam (IBBL) SME Surveillance CRAB-SE 3 - - - 04-Dec-24

1781 Nurunnahar Krishi Khamar SME Initial Rating CRAB-SE 3 - - - 26-Sep-24

1782 Nusrat Builders Corporate Surveillance BBB2 - ST-3 Stable 31-Jul-24

1783 Nutan Bidyut (Bangladesh) Ltd. Corporate Surveillance A1 A1(Lr) ST-3 Stable 31-Aug-24

1784 Nutun Hiramon SME Initial Rating CRAB-SE 3 - - - 30-Oct-24

1785 O’Dell Apparels Limited Corporate Surveillance A3 A3(Lr) ST-3 Stable 20-Dec-24

1786 Oakway Holding (BD) Limited Corporate Initial Rating BBB3(Pr) - - - 25-Jun-24

1787 Oasis Services (Agro) & Oasis Services Corporate Initial Rating BBB2 BBB2(Lr) ST-3 Stable 30-Dec-24

1788 Oasis Services (Agro) Limited Corporate Surveillance BBB2 BBB2(Lr) - Stable 30-Oct-24

1789 Oboni Printers Limited SME Initial Rating CRAB-SE 3 - - - 25-Jun-24

1790 Ocean Motors Ltd. SME Surveillance CRAB-SE 3 - - - 02-Nov-24

1791 Oculin Tech BD Ltd Corporate Surveillance BBB1 BBB1(Lr) ST-3 Stable 23-Jan-25

1792 Ohee Jute Fibers SME Surveillance CRAB-SE 3 - - - 28-Dec-24

1793 Ohiduzzaman Chowdhury SME Surveillance CRAB-SE 2 - - - 15-Aug-24

1794 OK Enterprise Pvt Ltd. Corporate Surveillance BB1 BB1(Lr) - Stable 31-Dec-24

1795 OK Knit Fashion SME Initial Rating CRAB-SE 3 - - - 19-Dec-24

1796 OK Properties Ltd. Corporate Surveillance BB1 BB1(Lr) - Stable 31-Dec-24

1797 OK Trade International Corporate Surveillance BB1 BB1(Lr) - Stable 31-Dec-24

1798 Olima Traders SME Initial CRAB-SE 3 - - - 19-Mar-25

1799 Olympic Cement Ltd Corporate Surveillance A2 A2(Lr) ST-3 Stable 30-Jun-24

1800 OMC Steel Ltd Corporate Surveillance BBB2 BBB2(Lr) ST-3 Stable 31-May-24

1801 Omi Enterprise SME Surveillance CRAB-SE 3 - - - 26-Mar-25

1802 Omor faruk & Brothers SME Surveillance CRAB-SE 3 - - - 21-Aug-24

43
Lr-Loan rating, Pr-Project rating, SO-Structured Obligation,
 Rating Update - March 2024
(Update up to 31 March 2024)

Sl No. Name of Client/Company Company/ Rating Type Entity Loan Ratings Rating
(Alphabetical order) Rating Long Term Short Term* Outlook Validity**
Firm Type

1803 One Telecom SME Surveillance CRAB-SE 3 - - - 15-May-24

1804 One Way Corporation SME Initial Rating CRAB-SE 3 - - - 30-Dec-24

1805 Onix Computer System SME Surveillance CRAB-SE 3 - - - 23-Oct-24

1806 Opu Traders SME Initial Rating CRAB-SE 3 - - - 12-Sep-24

1807 Oracle Services Limited Corporate Surveillance BBB2 BBB2(Lr) ST-3 Stable 30-Jun-24

1808 Orient Fashion Ltd. SME Surveillance CRAB-SE 3 - - - 28-Nov-24

1809 Oriental Oil Company Limited Corporate Surveillance BBB2 BBB2(Lr) ST-3 Stable 29-Sep-24

1810 Orion Gas Limitrd Corporate Surveillance BBB3 BBB3(Lr) ST-3 Stable 17-Jun-24

1811 Orion Infrastructure Ltd. Corporate Surveillance BBB1 BBB1(Lr) ST-3 Stable 31-Mar-24

1812 Orion Infrastructure Ltd. (Preference Share) Corporate Surveillance BBB1(SO) - - - 31-Mar-24

1813 Orion Infusion Ltd. Corporate Surveillance A3 A3(Lr) ST-3 Stable 31-Dec-24

1814 Orion Pharma Ltd. Corporate Surveillance AA3 AA3(Lr) ST-3 Stable 31-Dec-24

1815 Orion Power Meghnagat Ltd Corporate Surveillance AA3 - ST-3 Stable 30-Jun-24

1816 Orion Power Rupsha Limited Corporate Initial Rating A2 A2(Lr) ST-3 Stable 24-May-24

1817 Orion Power Sonargaon Limited Corporate Surveillance A2 A2(Lr) ST-2 Stable 18-Oct-24

1818 Orion Renewables Ltd Corporate Initial Rating A3 A3(Lr) ST-3 Stable 05-Dec-24

1819 Orlance Shipping & Trading Agency SME Initial Rating CRAB-SE 3 - - - 05-Dec-24

1820 Ornate knit Garments Corporate Surveillance BB1 BB1(Lr) ST-4 Stable 05-Apr-24

1821 Oxford Colours Ltd Corporate Surveillance A3 A3(Lr) ST-3 Stable 15-Mar-25

1822 Oxford Knit Composite Ltd Corporate Surveillance A3 A3(Lr) ST-3 Stable 19-Mar-25

1823 Oxford Shirt Ltd Corporate Surveillance A3 A3(Lr) ST-3 Stable 19-Mar-25

1824 P K Auto Rice Mill SME Initial Rating CRAB-SE 3 - - - 21-Nov-24

1825 P P Auto Rice Mill SME Surveillance CRAB-SE 3 - - - 18-Nov-24

1826 P S Enterprise SME Surveillance CRAB-SE 3 - - - 29-Aug-24

1827 P2P Engineering & Construction Ltd Corporate Surveillance BBB1 BBB1(Lr) ST-3 Stable 31-May-24

1828 Pabna Garments Ltd SME Initial Rating CRAB-SE 4 - - - 25-Jun-24

1829 Pacific Export Corporate Surveillance BBB3 BBB3(Lr) ST-3 Stable 28-Oct-24

1830 Pacific One Stop Interior Solution SME Surveillance CRAB-SE 3 - - - 16-Jan-25

1831 Pacific Sweaters Ltd. Corporate Surveillance BBB3 BBB3(Lr) ST-3 Stable 14-Oct-24

1832 Packmat Industries Ltd Corporate Surveillance AA2 AA2(Lr) ST-3 Stable 31-Jan-25

1833 Padma Feed & Checks Ltd. and Its Sister Concern SME Surveillance CRAB-ME 2 - - - 28-Dec-24

1834 Padma Traders Corporate Surveillance BBB2 BBB2(Lr) ST-3 Stable 29-Aug-24

1835 Pakiza Apparels Ltd. Corporate Surveillance BBB3 BBB3(Lr) ST-3 Stable 28-Dec-24

1836 Pakiza Cotton Spinning Mills (Pvt) Ltd Corporate Surveillance A1 A1(Lr) ST-3 Stable 29-Jun-24

1837 Pakiza Dyeing and Printing Industries Ltd Corporate Surveillance A1 A1(Lr) ST-3 Stable 30-Jan-25

1838 Pakiza Fabrics Collection Corporate Surveillance BBB1 - ST-3 Stable 27-Nov-24

1839 Pakiza Home Collection Corporate Surveillance BBB2 BBB2(Lr) ST-3 Stable 27-Nov-24

1840 Pakiza Knit Composite Ltd. Corporate Surveillance AA3 AA3(Lr) ST-2 Stable 26-Dec-24

1841 Pakiza Lungi Collection Corporate Surveillance BBB2 - ST-3 Stable 27-Nov-24

1842 Pakiza Print Corporate Surveillance BBB2 BBB2(Lr) ST-3 Stable 27-Nov-24

1843 Pakiza Spinning Mills Ltd Corporate Surveillance A1 A1(Lr) ST-3 Stable 30-Jan-25

1844 Pakiza Store Corporate Surveillance BBB2 BBB2(Lr) ST-3 Stable 27-Nov-24

44
Lr-Loan rating, Pr-Project rating, SO-Structured Obligation,
 Rating Update - March 2024
(Update up to 31 March 2024)

Sl No. Name of Client/Company Company/ Rating Type Entity Loan Ratings Rating
(Alphabetical order) Rating Long Term Short Term* Outlook Validity**
Firm Type

1845 Pakiza Textiles Ltd Corporate Surveillance A1 A1(Lr) ST-3 Stable 30-Jan-25

1846 Pakiza Woven Fashion Ltd. Corporate Surveillance BBB3 BBB3(Lr) ST-3 Stable 28-Dec-24

1847 Palli Mongal Karmosuchi Corporate Surveillance AA2 - ST-2 Stable 30-Dec-24

1848 Pam Complex Ltd. SME Surveillance CRAB-SE 3 - - - 30-Aug-24

1849 Pan Mark Apparels Pvt Ltd Corporate Surveillance A3 - ST-3 Stable 31-Jan-25

1850 Pan Pacific Sweaters Ltd Corporate Surveillance BBB1 - - Stable 19-Mar-25

1851 Panasia Clothing Ltd Corporate Surveillance A3 A3(Lr) ST-3 Stable 13-Mar-25

1852 Pandit Engineering Corporation SME Surveillance CRAB-SE 3 - - - 28-Feb-25

1853 Panjeree Publications Ltd Corporate Surveillance BBB1 BBB1(Lr) ST-3 Stable 26-Jun-24

1854 Panorama Apparels Limited Corporate Surveillance A3 A3(Lr) ST-3 Stable 30-Jun-24

1855 Panorama Washing Co. Ltd. Corporate Surveillance BBB2 BBB2(Lr) ST-3 Stable 08-Dec-24

1856 Panta Plastic Industries Ltd SME Surveillance CRAB-SE 3 - - - 06-Mar-25

1857 Pantech Enterprise Pvt Ltd SME Initial Rating CRAB-SE 3 - - - 07-Nov-24

1858 Papyrus FastQ BD Ltd SME Surveillance CRAB-ME 3 - - - 27-Apr-24

1859 Paradigm Architects and Engineers SME Surveillance CRAB-ME 2 - - - 08-Aug-24

1860 Paradise Medical Complex SME Surveillance CRAB-SE 3 - - - 26-Sep-24

1861 Paradise Sun Company Ltd. Corporate Surveillance BBB1 BBB1(Lr) ST-3 Stable 19-Aug-24

1862 Parkview Hospital & Diagnostic Ltd Corporate Initial Rating BBB1 BBB1(Lr) ST-3 Stable 05-Apr-24

1863 Partex Tissue Ltd Corporate Surveillance A3 A3(Lr) ST 3 Stable 26-Jul-24

1864 Parvez Construction Limited SME Initial CRAB-SE 3 - - - 16-Jan-25

1865 Parvez Enterprise SME Initial CRAB-SE 3 - - - 05-Mar-25

1866 Pasha Electro Industries Ltd. SME Surveillance CRAB-ME 2 - - - 28-Dec-24

1867 Pasha Poles Ltd SME Surveillance CRAB-ME 2 - - - 31-Mar-24

1868 Pasha Transformers Ltd SME Surveillance CRAB-ME 2 - - - 31-Mar-24

1869 Patricia Apparels Limited SME Initial CRAB-SE 3 - - - 06-Feb-25

1870 Patriot Eco Apparel Ltd. Corporate Surveillance A3 A3(Lr) ST-3 Stable 28-Dec-24

1871 Patriot Packaging International Ltd. Corporate Surveillance BBB2 BBB2(Lr) ST-3 Stable 28-Dec-24

1872 Paving SME Surveillance CRAB-SE 3 - - - 30-May-24

1873 Payel Technology Ltd SME Initial Rating CRAB-SE 4 - - - 01-Aug-24

1874 PC Solution Lab SME Initial Rating CRAB-SE 3 - - - 21-Nov-24

1875 PEAL Engineering and Construction Limited Corporate Surveillance AA2 AA2(Lr) ST-2 Stable 09-Jun-24

1876 Pearl Garments Company Ltd. Corporate Surveillance AA2 AA2(Lr) ST-2 Stable 31-Dec-24

1877 Pearls and Pouce Ltd Corporate Surveillance BBB1 - ST-3 Stable 31-Mar-25

1878 PEB Steel Alliance Ltd. Corporate Surveillance AA3 AA3(Lr) ST-2 Stable 31-Dec-24

1879 Peerless Venture Ltd. SME Surveillance CRAB-SE 3 - - - 28-Dec-24

1880 Perfect Real Estate Corporate Surveillance BB1 - ST-4 Stable 30-Jul-24

1881 Pharhome Trading Ltd SME Initial Rating CRAB-SE 3 - - - 28-Nov-24

1882 Pinq Plast (BD) Ltd Corporate Surveillance BBB3 - ST-3 Stable 25-Aug-24

1883 Pioneer Enterprise SME Surveillance CRAB-SE 3 - - - 20-Jun-24

1884 Piticon Industries SME Surveillance CRAB-ME 3 - - - 29-Sep-24

1885 PK Trading SME Surveillance CRAB-SE 3 - - - 12-Apr-24

1886 Placer Textile Mill Ltd SME Surveillance CRAB-SE 3 - - - 06-Sep-24

45
Lr-Loan rating, Pr-Project rating, SO-Structured Obligation,
 Rating Update - March 2024
(Update up to 31 March 2024)

Sl No. Name of Client/Company Company/ Rating Type Entity Loan Ratings Rating
(Alphabetical order) Rating Long Term Short Term* Outlook Validity**
Firm Type

1887 Planet Pharma Limited SME Initial CRAB-SE 3 - - - 30-Jan-25

1888 Plastic Concern (Pvt) Ltd Corporate Surveillance BBB1 - ST-3 Stable 31-Jul-24

1889 Polaris Industries Ltd. Corporate Initial Rating BBB3(Pr) - - - 12-Dec-24

1890 Polestar Fashion Design Limited Corporate Surveillance BBB2 BBB2(Lr) ST-3 Stable 15-Jun-24

1891 Pollen Cosmetics Ltd SME Initial Rating CRAB-SE 3 - - - 16-May-24

1892 POP Distribution Ltd Corporate Surveillance BBB1 - - Stable 19-Feb-25

1893 Popular Auto Works SME Surveillance CRAB-SE 3 - - - 06-Mar-25

1894 Popular Diagnostic Center Ltd. Corporate Surveillance AAA AAA(Lr) ST-1 Stable 30-Dec-24

1895 Popular Medical Centre Ltd. Corporate Initial Rating BBB1 BBB1(Lr) - Stable 10-Oct-24

1896 Popular Medical College & Hospital Ltd Corporate Initial Rating A2 - - Stable 31-Dec-24

1897 Popular Specialised Hospital Limited Corporate Initial BBB2 BBB2(Lr) ST-3 Stable 27-Feb-25

1898 Port Land International Corporate Surveillance BBB2 BBB2(Lr) ST-3 Stable 15-Dec-24

1899 Port Land International (BD) Ltd Corporate Surveillance BB1 BB1(Lr) ST-3 Stable 15-Dec-24

1900 Poseidon Enterprise Ltd. Corporate Surveillance BBB3 B1(Lr) - Stable 04-Dec-24

1901 Posh Furniture and Interior Ltd SME Surveillance CRAB-SE 3 - - - 19-Feb-25

1902 Posh Garments Ltd. Corporate Surveillance BBB3 BBB3(Lr) ST-3 Stable 15-Aug-24

1903 Power Utility Bangladesh Limited Corporate Initial Rating BBB1 BBB1(Lr) ST-3 Stable 25-Jun-24

1904 Prantik Marine Services Limited Corporate Surveillance BBB3 BBB3(Lr) ST-3 Stable 15-Sep-24

1905 Pratik Apparels Ltd. Corporate Surveillance BBB2 BBB2(Lr) ST-3 Stable 31-Jul-24

1906 Precision Engineers Ltd SME Surveillance CRAB-SE 3 - - - 21-Sep-24

1907 Press BD Trade & Industries Limited SME Initial Rating CRAB-SE 4 - - - 24-May-24

1908 Prestige Bengal Ltd Corporate Surveillance BBB3 - ST-3 Stable 06-Mar-25

1909 Pretty Auto Bricks Ltd Corporate Surveillance BBB3 BBB3(Lr) - Stable 19-Mar-25

1910 Pretty Composite Textiles Ltd Corporate Surveillance A3 A3(Lr) ST-3 Stable 19-Mar-25

1911 Pretty Enginring Ltd Corporate Surveillance BBB1 - - Stable 19-Mar-25

1912 Pretty Logitices Ltd Corporate Surveillance BBB1 BBB1(Lr) - Stable 19-Mar-25

1913 Pretty Sweaters Ltd Corporate Surveillance A1 A1(Lr) ST-3 Stable 19-Mar-25

1914 Pretty Washing Ltd Project Surveillance BBB1(Pr) - - - 19-Mar-25

1915 Pride Elevators Tech Ltd SME Initial Rating CRAB-SE 3 - - - 30-Oct-24

1916 Prime Engineering Corporate Surveillance BBB1 BBB1(Lr) ST-3 Stable 20-Jan-25

1917 Prime Hardware Store SME Initial Rating CRAB-SE 3 - - - 06-May-24

1918 Prime International SME Initial Rating CRAB-SE 3 - - - 25-Jul-24

1919 Prime Label & Accessories SME Initial Rating CRAB-SE 3 - - - 19-Dec-24

1920 Prime Net Ltd. SME Surveillance CRAB-SE 3 - - - 27-Nov-24

1921 Prime Sweater Ltd Corporate Surveillance BBB2 BBB2(Lr) ST-3 Stable 03-Mar-25

1922 Prince Corporation Ltd SME Surveillance CRAB-ME 3 - - - 19-Nov-24

1923 Prince Electricals Ltd. Corporate Surveillance BBB2 BBB2(Lr) ST-3 Stable 31-Oct-24

1924 Print Pack Trims SME Initial Rating CRAB-SE 3 - - - 29-Apr-24

1925 Prisma Apparel SME Surveillance CRAB-SE 3 - - - 25-Apr-24

1926 Pro Recycling Ltd SME Initial Rating CRAB-SE 3 - - - 17-Oct-24

1927 Probridhi Apparels Ltd Corporate Surveillance BBB1 BBB1(Lr) ST-3 Stable 30-Dec-24

1928 Prodhan Food Agro Industries Ltd. Corporate Surveillance BBB2 BBB2(Lr) ST-3 Stable 30-Dec-24

46
Lr-Loan rating, Pr-Project rating, SO-Structured Obligation,
 Rating Update - March 2024
(Update up to 31 March 2024)

Sl No. Name of Client/Company Company/ Rating Type Entity Loan Ratings Rating
(Alphabetical order) Rating Long Term Short Term* Outlook Validity**
Firm Type

1929 Prodhan Oil Mills Ltd. Corporate Surveillance BBB2 BBB2(Lr) ST-3 Stable 30-Dec-24

1930 Prodhan Traders Corporate Surveillance BBB2 BBB2(Lr) ST-5 Stable 30-Dec-24

1931 Prodip Paul SME Surveillance CRAB-ME 3 - - - 23-Jan-25

1932 Progati Consortium SME Surveillance CRAB-SE 3 - - - 06-Sep-24

1933 Progati Trading SME Initial CRAB-SE 3 - - - 16-Jan-25

1934 Progoti Auto Rice Mill SME Surveillance CRAB-SE 3 - - - 18-Nov-24

1935 Progoti Filling Station SME Surveillance CRAB-SE 3 , - - 27-Feb-25

1936 Programmes for Peoples Development Corporate Initial BBB2 - ST-3 Stable 23-Jan-25

1937 Progress Apparels bangladesh Ltd Corporate Surveillance BBB1 BBB1(Lr) ST-3 Stable 24-Mar-25

1938 Progressive Fishing Limited Corporate Surveillance BBB3 BBB3(Lr) ST-3 Stable 21-Apr-24

1939 Progressive Trading SME Initial Rating CRAB-SE 3 - - - 12-Sep-24

1940 Prome Agro Foods Ltd. Corporate Surveillance A2 A2(Lr) ST-3 Stable 28-Dec-24

1941 Prominent Lube Ltd. SME Surveillance CRAB-SE 3 - - - 25-Dec-24

1942 Promise Car Trading SME Initial Rating CRAB-SE 3 - - - 12-Dec-24

1943 Promixco Ltd Corporate Surveillance BBB3 BBB3(Lr) ST-3 Stable 13-Mar-25

1944 Prompt Packaging Limited SME Surveillance CRAB-SE 3 - - - 31-Jul-24

1945 Pronayan SME Surveillance CRAB-SE 2 - - - 14-Dec-24

1946 Pronayon Development Services SME Surveillance CRAB-SE 3 - - - 18-Dec-24

1947 Protec Electronics Ltd Corporate Initial Rating BBB2 BBB2(Lr) ST-3 Stable 12-Apr-24

1948 Protec Power Systems Corporate Initial Rating BBB2 BBB2(Lr) ST-3 Stable 12-Apr-24

1949 Protein House Ltd Corporate Surveillance BB1 - - Stable 22-Mar-25

1950 Protostar Limited Corporate Surveillance BBB2 BBB2(Lr) ST-3 Stable 31-Mar-24

1951 Prudent Fashions Ltd Corporate Initial Rating A2 A2(Lr) ST-3 Stable 30-May-24

1952 Pteromax Refinery Ltd. Corporate Surveillance A1 A1(Lr) ST-3 Stable 30-Nov-24

1953 Pul Industries Ltd. SME Surveillance CRAB-ME 3 - - - 30-Oct-24

1954 Purabi Agro Industries Limited Corporate Initial Rating BBB1 BBB1(Lr) ST-3 Stable 30-Dec-24

1955 Purbani Agro Processing Ltd Corporate Surveillance BBB2 BBB2(Lr) - Stable 30-Jun-24

1956 Purbani Fabrics Ltd Corporate Surveillance A1 A1(Lr) ST-3 Stable 30-Jun-24

1957 Purbani Fashions Ltd Corporate Surveillance BBB1 BBB1(Lr) ST-3 Stable 30-Jun-24

1958 Purbani Rotor Spinning Ltd Corporate Surveillance A1 A1(Lr) ST-3 Stable 30-Jun-24

1959 Purbani Synthetic Spinning Corporate Surveillance A1 A1(Lr) ST-3 Stable 30-Jun-24

1960 Purbani Yarn Dyeing Ltd Corporate Surveillance A1 A1(Lr) ST-3 Stable 30-Jun-24

1961 Puspa Construction SME Surveillance CRAB-SE 3 - - - 28-Nov-24

1962 Q & Q Foods Limited SME Surveillance CRAB-SE 3 - - - 26-Nov-24

1963 Qaswa Ship Recycling Corporate Initial BBB1 - ST-3 Stable 05-Mar-25

1964 QCS Accessories SME Surveillance CRAB-SE 3 - - - 07-Dec-24

1965 QNS Container Services Ltd Corporate Surveillance A3 A3(Lr) ST-2 Stable 30-Nov-24

1966 Quasem Food Products Ltd. Corporate Surveillance BBB1 BBB1(Lr) ST-3 Stable 15-Dec-24

1967 Quasem Industries Ltd. Corporate Surveillance A1 A1(Lr) ST-3 Stable 15-Dec-24

1968 Quasem Lamps Ltd Corporate Surveillance A2 A2(Lr) ST-3 Stable 31-Jan-25

1969 Quasem Zinc Ltd. Corporate Surveillance BBB3 BBB3(Lr) ST-4 Stable 15-Dec-24

1970 Quest Accessories (BD) Ltd Corporate Surveillance A3 - ST-3 Stable 25-Aug-24

47
Lr-Loan rating, Pr-Project rating, SO-Structured Obligation,
 Rating Update - March 2024
(Update up to 31 March 2024)

Sl No. Name of Client/Company Company/ Rating Type Entity Loan Ratings Rating
(Alphabetical order) Rating Long Term Short Term* Outlook Validity**
Firm Type

1971 R A Corporation SME Surveillance CRAB-SE 3 - - - 20-Nov-24

1972 R Aleem Agro Farm Ltd. SME Surveillance CRAB-SE 3 - - - 28-Dec-24

1973 R Amin & Brothers SME Surveillance CRAB-SE 3 - - - 25-May-24

1974 R and M Enterprise SME Initial CRAB-SE 3 - - - 05-Mar-25

1975 R Islam Accessories Limited SME Surveillance CRAB-SE 3 - - - 06-Jun-24

1976 R K Textile SME Surveillance CRAB-SE 3 - - - 12-Nov-24

1977 R M Industries SME Initial Rating CRAB-SE 3 - - - 10-Oct-24

1978 R M Rice Mill SME Initial Rating CRAB-SE 3 - - - 29-Aug-24

1979 R M Trading & Its Sister Concern Master Traders SME Surveillance CRAB-SE 2 - - - 28-Dec-24

1980 R R Automobiles Pvt. Ltd SME Surveillance CRAB-SE 3 - - - 06-Nov-24

1981 R Rakib Garments SME Initial Rating CRAB-SE 3 - - - 26-Sep-24

1982 R S CNG Filling Station Limited SME Initial CRAB-SE 3 - - - 23-Jan-25

1983 R S Machinaries Corporate Surveillance A3 A3(Lr) ST-3 Stable 29-Jun-24

1984 R S Sweater (Pvt) Ltd. Corporate Surveillance BBB3 BBB3(Lr) ST-1,ST-3 Stable 11-Dec-24

1985 R S Traders SME Surveillance CRAB-SE 3 - - - 03-Jun-24

1986 R Tex SME Initial Rating CRAB-SE 3 - - - 25-Jul-24

1987 Rabbani Autos SME Surveillance CRAB-SE 3 - - - 28-Sep-24

1988 Rabbi Traders SME Initial CRAB-SE 3 - - - 16-Jan-25

1989 Rabby Traders SME Surveillance CRAB-SE 3 - - - 01-Aug-24

1990 Rabeya Tiles & Sanitary SME Surveillance CRAB-SE 3 - - - 21-Sep-24

1991 Rabeya Traders & Rabeya Textile Mills SME Initial Rating CRAB-SE 3 - - - 24-May-24

1992 Radial International Ltd Corporate Surveillance A3 A3(Lr) ST-3 Stable 31-Mar-25

1993 Radial International Unit 2 Ltd Corporate Surveillance A2 A2(Lr) ST-3 Stable 31-Mar-25

1994 Radiance Fashion Ltd Corporate Surveillance A3 A3(Lr) ST-3 Stable 31-Mar-25

1995 Radiance Jeans Ltd Corporate Surveillance A3 A3(Lr) ST-3 Stable 31-Mar-25

1996 Radiance Packaging and Accessories Ltd Corporate Surveillance BBB1 BBB1(Lr) ST-3 Stable 31-Mar-25

1997 Radiance Shipping Lines Ltd. Corporate Surveillance BBB1 BBB1(Lr) ST-3 Stable 20-Nov-24

1998 Radiant Sweater Industries Ltd. Corporate Surveillance BBB3 BBB3(Lr) ST-3 Stable 04-Dec-24

1999 Radif Automobiles Limited SME Surveillance CRAB-ME 2 - - - 15-Apr-24

2000 Radission garments Corporate Surveillance BBB2 BBB2(Lr) ST-3 Stable 30-Apr-24

2001 Radisson Casualwear Ltd Corporate Surveillance BBB1 BBB1(Lr) ST-3 Stable 12-Sep-24

2002 Rafi Construction SME Surveillance CRAB-SE 3 - - - 14-Dec-24

2003 Rafi Engineering SME Surveillance CRAB-SE 3 - - - 28-Dec-24

2004 Rafi Traders SME Initial Rating CRAB-SE 3 - - - 25-Jun-24

2005 Rafi Traders SME Initial CRAB-SE 3 - - - 19-Feb-25

2006 Rafique Enterprise SME Surveillance CRAB-SE 3 - - - 24-Oct-24

2007 Rafique Store SME Initial Rating CRAB-SE 3 - - - 29-Aug-24

2008 Rafique Uddin SME Surveillance CRAB-SE 3 - - - 07-Nov-24

2009 Rahad Poultry & Dairy Feed SME Initial Rating CRAB-SE 3 - - - 20-Jun-24

2010 Rahbar Enterprise SME Surveillance CRAB-SE 3 - - - 30-Jan-25

2011 Rahid Construction SME Surveillance CRAB-SE 3 - - - 29-Mar-25

2012 Rahim Energy Limited Corporate Surveillance A1 A1(Lr) ST-2 Stable 30-Jun-24

48
Lr-Loan rating, Pr-Project rating, SO-Structured Obligation,
 Rating Update - March 2024
(Update up to 31 March 2024)

Sl No. Name of Client/Company Company/ Rating Type Entity Loan Ratings Rating
(Alphabetical order) Rating Long Term Short Term* Outlook Validity**
Firm Type

2013 Rahim Steel Mills Co. (Pvt.) Limited Corporate Surveillance AA3 AA3(Lr) ST-2 Stable 30-Jun-24

2014 Rahim Super Extreme Limited Corporate Surveillance A1 A1(Lr) ST-3 Stable 30-Jun-24

2015 Rahman and Sons SME Surveillance CRAB-SE 3 - - - 28-Sep-24

2016 Rahman Hardware SME Initial CRAB-SE 3 - - - 23-Jan-25

2017 Rahmanh Agro Industries Limited Corporate Surveillance A3 A3(Lr) ST-3 Stable 28-Dec-24

2018 Rahmania Enterprise SME Initial CRAB-SE 3 - - - 23-Jan-25

2019 Rahmania Steel SME Surveillance CRAB-SE 3 - - - 19-Feb-25

2020 Rahmat Ali & Co. SME Surveillance CRAB-SE 3 - - - 17-Sep-24

2021 Rahul & Sons SME Initial Rating CRAB-SE 3 - - - 24-Oct-24

2022 Rahul Consumer Product SME Surveillance CRAB-ME 2 - - - 09-Jun-24

2023 Rahul Flour Mill SME Surveillance CRAB-ME 2 - - - 09-Jun-24

2024 Rahul Oil & Food Product SME Surveillance CRAB-ME 3 - - - 09-Jun-24

2025 Rahul Oil Mills SME Initial Rating CRAB-ME 2 - - - 01-Aug-24

2026 Raida Feeds SME Surveillance CRAB-SE 3 - - - 22-Aug-24

2027 Raisa Computer SME Initial Rating CRAB-SE 3 - - - 05-Apr-24

2028 Raisa Traders SME Initial Rating CRAB-SE 3 - - - 22-Aug-24

2029 Raiya Trading SME Surveillance CRAB-SE 3 - - - 13-Jun-24

2030 Raiyan Enterprise SME Initial CRAB-SE 3 - - - 19-Mar-25

2031 Raj Lanka Power Co Limited Corporate Surveillance AA3 AA3(Lr) ST-3 Stable 30-Nov-24

2032 Raja Hasan Steels Limited SME Surveillance CRAB-SE 3 - - - 31-May-24

2033 Raja Traders SME Initial CRAB-SE 3 - - - 26-Mar-25

2034 Rajlaxmi Banijjo Vander SME Initial Rating CRAB-SE 3 - - - 25-Dec-24

2035 Rajnagar Tea Company Ltd Corporate Surveillance BB3 BB3(Lr) ST-4 Stable 28-Sep-24

2036 Rakhi Three Piece SME Surveillance CRAB-SE 3 - - - 19-Dec-24

2037 Rakib & Brothers SME Initial Rating CRAB-SE 3 - - - 19-Dec-24

2038 Rakib Store SME Initial Rating CRAB-SE 3 - - - 06-Sep-24

2039 Ramco International Corporate Initial Rating BBB3 - - Stable 13-Jun-24

2040 Ramishas Fashion Ltd SME Initial Rating CRAB-ME 3 - - - 25-Jun-24

2041 Rana Metal Industries SME Surveillance CRAB-SE 3 - - - 26-Sep-24

2042 Rana Motors SME Surveillance CRAB-SE 3 - - - 25-Dec-24

2043 Rancon Car Hub Limited Corporate Surveillance BBB2 BBB2(Lr) ST-3 Stable 02-Jun-24

2044 Ranger Chhoa International SME Initial Rating CRAB-SE 3 - - - 21-Nov-24

2045 Rangoli Electronics SME Surveillance CRAB-SE 3 - - - 06-Sep-24

2046 Rangoon Mill Stores and its Sister Concern (Taher Ali and Sons
SME& SunshineInitial
Traders)
Rating CRAB-SE 3 - - - 28-Nov-24

2047 Rapid Trim Solution SME Surveillance CRAB-SE 3 - - - 15-Mar-25

2048 Rares Enterprise SME Surveillance CRAB-SE 3 - - - 20-Dec-24

2049 Rasel & Jewel Corporation SME Surveillance CRAB-ME 2 - - - 12-Nov-24

2050 Rasel Enterprise SME Initial Rating CRAB-SE 3 - - - 24-Oct-24

2051 Rashid Atop Automatic Rice Mill Corporate Surveillance BBB2 BBB2(Lr) ST-3 Stable 31-Jan-25

2052 Rashid Automatic Rice Mills Ltd Corporate Surveillance A2 A2(Lr) ST-3 Stable 31-Jan-25

2053 Rashid Enterprise Corporate Surveillance BBB2 BBB2(Lr) ST-3 Stable 31-Jan-25

2054 Rashid Logistics Ltd Corporate Surveillance BBB1 BBB1(Lr) - Stable 31-Jan-25

49
Lr-Loan rating, Pr-Project rating, SO-Structured Obligation,
 Rating Update - March 2024
(Update up to 31 March 2024)

Sl No. Name of Client/Company Company/ Rating Type Entity Loan Ratings Rating
(Alphabetical order) Rating Long Term Short Term* Outlook Validity**
Firm Type

2055 Rashid Oil Mills Limited Corporate Surveillance A3 A3(Lr) ST-3 Stable 30-May-24

2056 Rashid Paper Mills Ltd Corporate Surveillance BBB2 BBB2(Lr) ST-3 Stable 31-Jan-25

2057 Raven Agro Chemicals Ltd SME Initial Rating CRAB-ME 3 - - - 25-Jul-24

2058 Rayfung Trading International SME Surveillance CRAB-SE 3 - - - 30-Oct-24

2059 Razia Auto Rice Mill SME Surveillance CRAB-SE 3 - - - 28-Sep-24

2060 Razib Enterprise SME Initial Rating CRAB-SE 3 - - - 06-Sep-24

2061 Razon Traders SME Surveillance CRAB-SE 3 - - - 02-Dec-24

2062 Razu Enterprise SME Initial Rating CRAB-SE 3 - - - 30-Dec-24

2063 Razzak Brothers Corporate Surveillance BBB2 BBB2(Lr) ST-3 Stable 29-Sep-24

2064 Razzak Khadya Bhander SME Surveillance CRAB-SE 3 - - - 17-Mar-25

2065 Real- Source Ltd SME Surveillance CRAB-SE 3 - - - 14-Jun-24

2066 Rebeka International SME Initial CRAB-SE 3 - - - 19-Mar-25

2067 REC Corporation SME Initial Rating CRAB-SE 3 - - - 12-Dec-24

2068 Redwan Filling Station SME Initial Rating CRAB-SE 2 - - - 24-May-24

2069 REDX Logistics Limited Corporate Surveillance BBB1 BBB1(Lr) ST-3 Stable 19-Feb-25

2070 Regency Garments Ltd. Corporate Surveillance A3 A3(Lr) ST-3 Stable 06-Sep-24

2071 Regency Three Ltd. Corporate Surveillance A3 A3(Lr) ST-3 Stable 06-Sep-24

2072 REGO Communications Limited Corporate Initial Rating BBB2 BBB2(Lr) ST-3 Stable 15-Apr-24

2073 Rejaul Traders SME Initial CRAB-SE 3 - - - 05-Mar-25

2074 Reliable Steel Ltd Corporate Surveillance BBB1 - ST-3 Stable 30-Mar-25

2075 Reliancetrim Park Ltd Corporate Surveillance BBB3 BBB3(Lr) ST-3 Stable 20-Jun-24

2076 Remi Farms Ltd Corporate Surveillance BBB3 BBB3(Lr) ST-3 Stable 06-Sep-24

2077 Remi Holdings ltd. Corporate Surveillance A2 A2(Lr) ST-3 Stable 31-Oct-24

2078 Reno Tools BD SME Initial Rating CRAB-SE 3 - - - 05-Dec-24

2079 Reverie Power & Automation Engineering Ltd. Corporate Surveillance A2 A2(Lr) ST 3 Stable 31-May-24

2080 Reyad Traders SME Initial Rating CRAB-SE 3 - - - 26-Sep-24

2081 Reza Construction SME Surveillance CRAB-SE 2 - - - 07-Nov-24

2082 RFS Fashion Wear Ltd Corporate Initial Rating BBB2 BBB2(Lr) ST-3 Stable 12-Nov-24

2083 RGR Sweater Ltd Corporate Surveillance A1 - ST-3 Stable 31-Dec-24

2084 Ria International SME Initial CRAB-SE 3 - - - 12-Mar-25

2085 Riad Traders SME Initial CRAB-SE 3 - - - 27-Feb-25

2086 Rich Plus Knitwear Ltd Corporate Surveillance BBB2 BBB2(Lr) ST-3 Stable 28-Sep-24

2087 Richman Imformatics SME Surveillance CRAB-SE 3 - - - 27-Nov-24

2088 Right Choice Hosiery & Garments SME Initial Rating CRAB-SE 3 - - - 06-Sep-24

2089 Rigs Marketing Corporate Surveillance A3 A3(Lr) ST-3 Stable 31-Mar-24

2090 Rima Enterprise SME Initial Rating CRAB-SE 3 - - - 30-May-24

2091 Ripon Knitwear Ltd. Corporate Surveillance BBB1 BBB1(Lr) ST-3 Stable 12-Nov-24

2092 Ripon Packaging Industries Pvt Ltd. Corporate Surveillance BBB3 BBB3(Lr) ST-3 Stable 12-Nov-24

2093 Ripon Perfumery and Chemical SME Surveillance CRAB-SE 3 - - - 16-Jun-24

2094 Ripon Rice and Atta Mill SME Initial CRAB-SE 3 - - - 06-Feb-25

2095 Rita Art Press SME Initial CRAB-SE 3 - - - 23-Jan-25

2096 River Side Enterprise SME Surveillance CRAB-SE 4 - - - 14-Dec-24

50
Lr-Loan rating, Pr-Project rating, SO-Structured Obligation,
 Rating Update - March 2024
(Update up to 31 March 2024)

Sl No. Name of Client/Company Company/ Rating Type Entity Loan Ratings Rating
(Alphabetical order) Rating Long Term Short Term* Outlook Validity**
Firm Type

2097 Rizia Battery and Prapty Traders SME Surveillance CRAB-SE 5 - - - 27-Nov-24

2098 RJM Footwear Ltd. Corporate Surveillance BBB1 BBB1(Lr) ST-3 Stable 31-Dec-24

2099 RM Carpet Ltd Corporate Initial BBB1 - - Stable 30-Jan-25

2100 RM Geotex Ltd Corporate Initial Rating BBB1 BBB1(Lr) ST-3 Stable 30-May-24

2101 RM Green Flakes Ltd Corporate Initial BBB1 - - Stable 30-Jan-25

2102 RM Jute Diversification Mills Ltd Corporate Initial Rating A2 A2(Lr) ST-3 Stable 30-May-24

2103 RM Organic Corporate Initial BBB2 - - Stable 30-Jan-25

2104 Robel Hosiery SME Initial Rating CRAB-SE 3 - - - 17-Oct-24

2105 Robi Axiata Limited Corporate Surveillance AA2 AA2(Lr) ST-1 Stable 30-Apr-24

2106 Robi Poultry Zone SME Initial Rating CRAB-SE 3 - - - 26-Sep-24

2107 Robin Traders SME Surveillance CRAB-SE 3 - - - 21-Sep-24

2108 Robiul Boylar & Chaul Kall SME Surveillance CRAB-SE 3 - - - 01-Aug-24

2109 Rofique Poultry Farm SME Initial Rating CRAB-SE 3 - - - 25-Dec-24

2110 Rony Dyeing & Finishing Mills (Pvt) Ltd. Corporate Initial Rating BBB1 BBB1(Lr) ST-3 Stable 30-Dec-24

2111 Rony Knitwear Pvt Ltd Corporate Surveillance BBB2 BBB2(Lr) ST-3 Stable 12-Feb-25

2112 Rony Store SME Surveillance CRAB-SE 3 - - - 12-Dec-24

2113 Rowshan Elevators Ltd SME Surveillance CRAB-SE 3 - - - 01-Aug-24

2114 Royal Fish SME Initial Rating CRAB-SE 3 - - - 15-Aug-24

2115 Royal Super Shop SME Initial Rating CRAB-SE 3 - - - 25-Dec-24

2116 Royal Weaving & Coating Industries SME Initial Rating CRAB-ME 3 - - - 25-Dec-24

2117 RP Animal Health Co. Corporate Surveillance BBB2 - ST-3 Stable 24-Sep-24

2118 RR Imperial Electricals Ltd. Corporate Surveillance A3 A3(Lr) ST-3 Stable 15-Dec-24

2119 RSB Industrial Ltd. Corporate Surveillance BBB2 BBB2(Lr) ST-3 Stable 26-Jul-24

2120 Rubel Steel Mills Ltd. Corporate Surveillance A3 A3(Lr) ST-3 Stable 26-Dec-24

2121 Rubi Stone House SME Initial Rating CRAB-SE 5 - - - 21-Nov-24

2122 Ruhan Traders SME Initial Rating CRAB-SE 3 - - - 30-Dec-24

2123 Ruhul Chaul Kall SME Surveillance CRAB-SE 3 - - - 28-Sep-24

2124 Ruhul Enterprise SME Surveillance CRAB-SE 3 - - - 19-Sep-24

2125 Ruma Engineearing Workshop SME Initial Rating CRAB-SE 3 - - - 26-Sep-24

2126 Rumi Traders SME Initial CRAB-SE 3 - - - 05-Mar-25

2127 Rumpa Enterprise Corporate Initial Rating BBB2 BBB2(Lr) ST-3 Stable 26-Sep-24

2128 Runa Steel House SME Surveillance CRAB-SE 3 - - - 28-Dec-24

2129 Runner Automobiles Limited of Non - Convertible Guaranteed

Corporate
Sustainability
Initial
BondRating AA3 - - Stable 12-Apr-24

2130 Runner Automobiles PLC Corporate Surveillance A1 A1(Lr) ST-3 Stable 30-Nov-24

2131 Runner Motors Ltd. Corporate Surveillance AA3 AA3(Lr) ST-3 Stable 30-Nov-24

2132 Rupali Traders SME Surveillance CRAB-ME 2 - - - 15-Dec-24

2133 Ruposhi Bangla Auto Rice Mill SME Surveillance CRAB-SE 3 - - - 25-Apr-24

2134 Rupshi Seed Crushing Limited Corporate Surveillance A2 (Pr) - - - 20-Jun-24

2135 Rustom Battery SME Initial Rating CRAB-SE 3 - - - 24-May-24

2136 S & F Tex Fashion SME Surveillance CRAB-SE 3 - - - 30-Nov-24

2137 S A Future Fashion SME Initial Rating CRAB-SE 3 - - - 22-Aug-24

2138 S A World Corporate Initial Rating BBB2 BBB2(Lr) ST-3 Stable 20-Jun-24

51
Lr-Loan rating, Pr-Project rating, SO-Structured Obligation,
 Rating Update - March 2024
(Update up to 31 March 2024)

Sl No. Name of Client/Company Company/ Rating Type Entity Loan Ratings Rating
(Alphabetical order) Rating Long Term Short Term* Outlook Validity**
Firm Type

2139 S Alam Engineering Limited SME Initial Rating CRAB-SE 3 - - - 30-Dec-24

2140 S B Co SME Surveillance CRAB-SE 3 - - - 13-Dec-24

2141 S B Furniture SME Initial Rating CRAB-SE 3 - - - 26-Sep-24

2142 S D Chemical Company SME Surveillance CRAB-SE 3 - - - 28-Jun-24

2143 S H Enterprise Corporate Initial Rating A3 A3(Lr) ST-3 Stable 12-Dec-24

2144 S M Corporation SME Surveillance CRAB-SE 5 - - - 10-Dec-24

2145 S M Enterprise SME Initial CRAB-SE 3 - - - 26-Mar-25

2146 S M Enterprise SME Initial Rating CRAB-SE 3 - - - 15-Aug-24

2147 S N Adil Apparels Limited SME Initial CRAB-SE 3 - - - 19-Feb-25

2148 S N Corporation Corporate Surveillance A1 - ST-2 Stable 15-Mar-25

2149 S N Enterprise SME Surveillance CRAB-SE 3 - - - 14-Sep-24

2150 S N Traders SME Surveillance CRAB-SE 3 - - - 20-Aug-24

2151 S P Traders SME Initial Rating CRAB-SE 2 - - - 13-Jun-24

2152 S R Chaul Kall SME Initial Rating CRAB-SE 3 - - - 29-Aug-24

2153 S R S Ship breakers Corporate Initial Rating BB1 BB1(Lr) - Stable 24-May-24

2154 S R Trading SME Surveillance CRAB-SE 3 - - - 04-Dec-24

2155 S S Enterprise SME Initial Rating CRAB-SE 3 - - - 08-Aug-24

2156 S S Printing & Packaging Limited SME Initial Rating CRAB-SE 3 - - - 30-Dec-24

2157 S S Rice Mill SME Initial CRAB-SE 3 - - - 12-Mar-25

2158 S S Trade International SME Surveillance CRAB-SE 2 - - - 28-Dec-24

2159 S S Trading SME Surveillance CRAB-SE 2 - - - 13-Feb-25

2160 S S Trading & its Sister Concern SME Surveillance CRAB-SE 3 - - - 18-Oct-24

2161 S Suhi Industrial Park Ltd Corporate Surveillance A2 A2(Lr) ST-3 Stable 19-Mar-25

2162 S. Rahman Filling & CNG Station SME Surveillance CRAB-SE 3 - - - 25-Dec-24

2163 Saad Traders SME Initial Rating CRAB-SE 3 - - - 24-Oct-24

2164 Saat Trading SME Initial Rating CRAB-SE 3 - - - 18-Jul-24

2165 Sab Plus (Pvt) Ltd SME Initial Rating CRAB-SE 3 - - - 19-Sep-24

2166 Sabbir Enterprise SME Initial Rating CRAB-SE 3 - - - 29-Apr-24

2167 Sabbir Enterprise SME Initial Rating CRAB-SE 3 - - - 12-Dec-24

2168 Sabia Enterprise SME Surveillance CRAB-SE 3 - - - 21-Aug-24

2169 Sabir Enterprise SME Initial Rating CRAB-SE 3 - - - 14-Nov-24

2170 Sabisa Multitrade Ltd Corporate Initial Rating BBB1 - ST-3 Stable 08-Aug-24

2171 Sabjiana Ltd Corporate Surveillance BBB1 BBB1(Lr) ST-3 Stable 31-Jan-25

2172 Sabuj & Brothers SME Initial Rating CRAB-SE 3 - - - 19-Dec-24

2173 Sabuj Enterprise SME Initial CRAB-SE 3 - - - 05-Mar-25

2174 Sadekul Machineries SME Surveillance CRAB-SE 3 - - - 29-Oct-24

2175 Sadia Garments Limited SME Initial CRAB-SE 4 - - - 19-Feb-25

2176 Sadia Traders SME Surveillance CRAB-SE 3 - - - 28-Sep-24

2177 Sadia Traders (Habigonj) SME Initial Rating CRAB-SE 3 - - - 25-Dec-24

2178 Sadikul Traders SME Surveillance CRAB-SE 3 - - - 29-Jan-25

2179 Sadiya Furniture SME Initial Rating CRAB-SE 3 - - - 25-Dec-24

2180 Sadma Fashion wear Ltd. Corporate Surveillance BBB1 BBB1(Lr) ST-3 Stable 27-Nov-24

52
Lr-Loan rating, Pr-Project rating, SO-Structured Obligation,
 Rating Update - March 2024
(Update up to 31 March 2024)

Sl No. Name of Client/Company Company/ Rating Type Entity Loan Ratings Rating
(Alphabetical order) Rating Long Term Short Term* Outlook Validity**
Firm Type

2181 Safa Jewellers SME Initial Rating CRAB-SE 3 - - - 21-Nov-24

2182 Safe Traders SME Surveillance CRAB-SE 3 - - - 22-Sep-24

2183 Sagarika Samaj Unnayan Sangstha Corporate Initial Rating BBB2 BBB2(Lr) ST-3 Stable 19-Dec-24

2184 Sagarika Ship Breaking Industry Corporate Surveillance BBB3 BBB3(Lr) ST-3 Stable 30-Nov-24

2185 Sagor Varieties Store SME Initial Rating CRAB-SE 4 - - - 30-Aug-24

2186 Saha Agro Food Industries SME Surveillance CRAB-SE 3 - - - 18-Nov-24

2187 Saha Brothers (Manikgonj) SME Surveillance CRAB-SE 3 - - - 29-Dec-24

2188 Saha Himagar Pvt Ltd SME Initial CRAB-SE 3 - - - 13-Feb-25

2189 Saha Traders (Chuadanga) SME Surveillance CRAB-SE 3 - - - 17-Feb-25

2190 Saha Traders SME Surveillance CRAB-SE 3 - - - 14-Dec-24

2191 Sahadat Shoe Store SME Initial Rating CRAB-SE 3 - - - 30-Dec-24

2192 Sahin Cottage Industry SME Initial Rating CRAB-SE 3 - - - 30-Dec-24

2193 Sahin Enterprise SME Initial Rating CRAB-SE 3 - - - 30-Dec-24

2194 Saif Powertec Limited Corporate Surveillance A2 A2(Lr) ST-3 Stable 15-Apr-24

2195 Saiful Alam & Co. SME Initial Rating CRAB-SE 3 - - - 19-Sep-24

2196 Saifullah Stone Crusher SME Surveillance CRAB-SE 3 - - - 12-Apr-24

2197 Saifur Rahman Rana & Sons SME Initial Rating CRAB-SE 3 - - - 24-Oct-24

2198 Saiham Cotton Mills Ltd Corporate Surveillance A1 A1(Lr) ST-3 Stable 31-Mar-25

2199 Saiham Knit Composite Ltd Corporate Surveillance A1 A1(Lr) ST-3 Stable 28-Feb-25

2200 Saim Enterprise & Its Sister Concern SME Surveillance CRAB-SE 3 - - - 02-Jun-24

2201 Saimon Chaul Kall SME Initial Rating CRAB-SE 3 - - - 08-Aug-24

2202 Sajal Chaul Kall SME Surveillance CRAB-SE 3 - - - 18-Oct-24

2203 Sajan International Trading Co Ltd. SME Surveillance CRAB-SE 3 - - - 05-Nov-24

2204 Sajid Foam Bitan SME Surveillance CRAB-SE 3 - - - 09-Dec-24

2205 Sajid Traders SME Initial Rating CRAB-SE 3 - - - 17-Oct-24

2206 Sajol Ceramics Industries Ltd. SME Surveillance CRAB-ME 3 - - - 18-Oct-24

2207 Sakib Dairy Farm SME Initial Rating CRAB-SE 3 - - - 30-Dec-24

2208 Sakif Enterprise SME Surveillance CRAB-SE 3 - - - 19-Nov-24

2209 Salahuddin Trading Co SME Initial Rating CRAB-SE 3 - - - 16-May-24

2210 Salam Enterprise SME Surveillance CRAB-SE 3 - - - 01-Aug-24

2211 Salam Steel Concast Re Rolling Mills Madanpur Unit Limited Corporate Initial Rating A3 A3(Lr) ST-3 Stable 30-Jun-24

2212 Sales Promotion Service Ltd. Corporate Surveillance A3 A3(Lr) ST-3 Stable 26-Dec-24

2213 Salim's Panjabi Museum SME Initial Rating CRAB-SE 3 - - - 14-Nov-24

2214 Salman Enterprise SME Surveillance CRAB-SE 3 - - - 29-Aug-24

2215 Salman Stone Crusher SME Surveillance CRAB-SE 3 - - - 09-Aug-24

2216 Sam Associates Ltd. Corporate Surveillance BBB3 BBB3(Lr) ST-3 Stable 23-Jun-24

2217 Sam Ree Dyeing (BD) Ltd Corporate Surveillance BBB3 BBB3(Lr) ST-3 Stable 31-Jul-24

2218 Sama Auto Rice Mill SME Surveillance CRAB-ME 3 - - - 31-May-24

2219 Samad Engineering Works SME Surveillance CRAB-SE 3 - - - 06-Mar-25

2220 Samad Traders SME Surveillance CRAB-SE 3 - - - 28-Nov-24

2221 Samad Trading Corporation and Its Sister Concern SME Initial Rating CRAB-SE 3 - - - 14-Dec-24

2222 Samia Shrimp Exporting SME Surveillance CRAB-SE 3 - - - 14-Dec-24

53
Lr-Loan rating, Pr-Project rating, SO-Structured Obligation,
 Rating Update - March 2024
(Update up to 31 March 2024)

Sl No. Name of Client/Company Company/ Rating Type Entity Loan Ratings Rating
(Alphabetical order) Rating Long Term Short Term* Outlook Validity**
Firm Type

2223 Samia Traders SME Surveillance CRAB-SE 3 - - - 12-Apr-24

2224 Samiha Yarn Trading SME Surveillance CRAB-SE 3 - - - 30-Jun-24

2225 Samonnitho Gram Unnayan Sangstha (SGUS) SME Initial Rating CRAB-SE 3 - - - 24-Oct-24

2226 Samorita Hospital Ltd. Corporate Surveillance A3 A3(Lr) - Stable 19-Nov-24

2227 Samrat Industries Corporate Surveillance BBB1 BBB1(Lr) ST-3 Stable 20-Nov-24

2228 Samrat Packaging Industries Corporate Surveillance BBB1 BBB1(Lr) ST-3 Stable 08-Aug-24

2229 Samrat Traders SME Surveillance CRAB-SE 3 - - - 26-May-24

2230 Samson Trading Coporation SME Initial Rating CRAB-SE 3 - - - 25-Jun-24

2231 Sanaullah Fahim SME Initial Rating CRAB-SE 3 - - - 25-Jun-24

2232 Sanghavi Shoe Accessories BD Pvt Ltd. SME Surveillance CRAB-SE 4 - - - 25-Nov-24

2233 Sanitary World SME Surveillance CRAB-SE 3 - - - 24-May-24

2234 Sanjida Enterprise SME Surveillance CRAB-SE 3 - - - 01-Aug-24

2235 Sanowara Drinks and Beverage Industries Ltd. Corporate Surveillance A3 A3(Lr) ST-3 Stable 10-Dec-24

2236 Sanur Dairy Products SME Initial Rating CRAB-SE 3 - - - 16-May-24

2237 Sany Enterprise SME Surveillance CRAB-SE 3 - - - 31-May-24

2238 Sanzi Textile Mills Limited Corporate Surveillance BBB2 BBB2(Lr) ST-3 Stable 15-May-24

2239 Sarada Dal & Food Industries SME Surveillance CRAB-SE 3 - - - 30-Jun-24

2240 Sarada Flour Mills SME Surveillance CRAB-SE 3 - - - 30-Jun-24

2241 Sarada Traders SME Surveillance CRAB-SE 3 - - - 30-Jun-24

2242 Sarah Super Store SME Initial Rating CRAB-SE 3 - - - 13-Jun-24

2243 Sarina Trade International Ltd SME Initial Rating CRAB-SE 3 - - - 05-Dec-24

2244 Sarker Agro & Cattle Farm SME Initial Rating CRAB-SE 3 - - - 25-Dec-24

2245 Sarker Concrete Block SME Initial Rating CRAB-SE 3 - - - 14-Nov-24

2246 Sarker Diagnostic and Nursing Home SME Initial CRAB-SE 3 - - - 30-Jan-25

2247 Sarker Traders SME Initial Rating CRAB-SE 3 - - - 19-Sep-24

2248 Sarker Traders SME Surveillance CRAB-SE 3 - - - 13-Dec-24

2249 SAS Telecom Center SME Surveillance CRAB-SE 3 - - - 03-Jun-24

2250 Sathkania Hardware & Chemicals Agency SME Surveillance CRAB-SE 3 - - - 18-Apr-24

2251 Satil Knitwear PVT Limited SME Surveillance CRAB-SE 3 - - - 14-Sep-24

2252 Saturn Textiles Ltd Corporate Surveillance A2 A2(Lr) ST-3 Stable 29-Jun-24

2253 Saudia Filling Station SME Surveillance CRAB-SE 3 - - - 01-Aug-24

2254 Savory Food Products SME Initial CRAB-SE 3 - - - 27-Feb-25

2255 Sawarna Construction & General Merchant SME Initial Rating CRAB-SE 3 - - - 08-May-24

2256 Sayam knit Fab Corporate Surveillance BBB2 BBB2(Lr) ST-3 Stable 07-Apr-24

2257 Sayed Medical Store SME Initial CRAB-SE 3 - - - 27-Feb-25

2258 Sayem Electronics SME Initial Rating CRAB-SE 3 - - - 17-Oct-24

2259 Sayem Fashions Ltd. Corporate Surveillance BBB3 BBB3(Lr) ST-3 Stable 04-Dec-24

2260 Sayera Enterprise SME Surveillance CRAB-ME 3 - - - 21-Aug-24

2261 Sazka Natural Care Ltd Project Surveillance BBB2(Pr) - - - 02-Apr-25

2262 Sazzad Steel Mills Corporate Surveillance BBB2 BBB2(Lr) ST-3 Stable 30-Nov-24

2263 Sazzad Store SME Initial Rating CRAB-SE 3 - - - 01-Aug-24

2264 SDK Printing & Packaging SME Surveillance CRAB-SE 3 - - - 26-Sep-24

54
Lr-Loan rating, Pr-Project rating, SO-Structured Obligation,
 Rating Update - March 2024
(Update up to 31 March 2024)

Sl No. Name of Client/Company Company/ Rating Type Entity Loan Ratings Rating
(Alphabetical order) Rating Long Term Short Term* Outlook Validity**
Firm Type

2265 SE Enterprise SME Initial Rating CRAB-SE 3 - - - 30-Dec-24

2266 Sea Blue Textile Ltd Corporate Surveillance BBB1 BBB1(Lr) ST-3 Stable 20-May-24

2267 Sea Shore International Corporate Initial Rating A3 A3(Lr) ST-3 Stable 12-Dec-24

2268 Sea Tex Ltd Corporate Surveillance BBB3 BBB3(Lr) ST-3 Stable 17-Jun-24

2269 Seam Agro Foods Ltd Corporate Initial Rating BBB3 - ST-3 Stable 19-Sep-24

2270 Seamark (BD) Ltd. Corporate Surveillance A2 - ST-3 Stable 29-Sep-24

2271 Secura Bangladesh Ltd Corporate Surveillance A3 - ST-3 Stable 31-Aug-24

2272 Seed Bangla Agro Ltd. SME Surveillance CRAB-SE 3 - - - 18-Aug-24

2273 Segment Papers SME Initial Rating CRAB-SE 3 - - - 07-Nov-24

2274 Seiko Steel Ltd Corporate Surveillance BB1 - - Stable 01-Feb-25

2275 Self Innovative Fashion Limited Corporate Surveillance BBB3 BBB3(Lr) ST-4 Stable 08-May-24

2276 Selim Auto Atop Chaul Kall & Sorter Mill SME Initial Rating CRAB-SE 3 - - - 12-Dec-24

2277 Semon Trade International SME Initial Rating CRAB-SE 3 - - - 25-Jul-24

2278 Server Station SME Surveillance CRAB-ME 3 - - - 25-May-24

2279 Service Bangladesh SME Surveillance CRAB-SE 3 - - - 29-Sep-24

2280 Seven Seas Shipping & Trading Corporate Surveillance BBB3 BBB3(Lr) ST-3 Stable 16-Jan-25

2281 Sewing Point BD Ltd SME Initial Rating CRAB-SE 3 - - - 05-Apr-24

2282 Sewtex Industries Ltd SME Surveillance CRAB-SE 3 - - - 28-Nov-24

2283 Seyam Traders SME Initial Rating CRAB-SE 3 - - - 08-May-24

2284 SF Sweaters Ltd. SME Surveillance CRAB-ME 2 - - - 30-Sep-24

2285 Shaad SME Surveillance CRAB-SE 3 - - - 19-Sep-24

2286 Shaad and Co Ltd SME Surveillance CRAB-ME 2 - - - 19-Jan-25

2287 Shaba Steel Enterprise SME Surveillance CRAB-SE 3 - - - 04-Dec-24

2288 Shabbir Enterprise SME Surveillance CRAB-SE 3 - - - 20-Jun-24

2289 Shafali Rahman SME Surveillance CRAB-SE 3 - - - 06-Nov-24

2290 Shafi Food Products SME Surveillance CRAB-SE 3 - - - 21-Nov-24

2291 Shafi Knit Limited Corporate Initial Rating BBB2 BBB2(Lr) ST-3 Stable 16-May-24

2292 Shafikul Traders SME Surveillance CRAB-SE 3 - - - 17-Mar-25

2293 Shafiq Mobile Shop SME Initial Rating CRAB-SE 3 - - - 22-Aug-24

2294 Shagor Workshop SME Initial Rating CRAB-SE 3 - - - 25-Jun-24

2295 Shah Amanat Iron Store SME Initial Rating CRAB-SE 3 - - - 25-Jul-24

2296 Shah Amanat Steel House SME Surveillance CRAB-SE 3 - - - 12-Nov-24

2297 Shah Darbeshia Automobiles SME Initial Rating CRAB-SE 3 - - - 26-Sep-24

2298 Shah Jalal Garments SME Surveillance CRAB-SE 3 - - - 04-Feb-25

2299 Shaha Banijjo Vander SME Initial Rating CRAB-SE 3 - - - 26-Sep-24

2300 Shahadat Enterprise SME Initial CRAB-SE 3 - - - 30-Jan-25

2301 Shahajalal Steel House SME Initial CRAB-SE 3 - - - 16-Jan-25

2302 Shahin Clinic and Diagnostic Center SME Surveillance CRAB-SE 3 - - - 30-Jan-25

2303 Shahin Thai & SS SME Surveillance CRAB-SE 3 - - - 18-Jul-24

2304 Shahin Traders SME Initial CRAB-SE 3 - - - 16-Jan-25

2305 Shahin Traders & Its Sister Concern Shafiq Traders and Meghna
SMEAuto RiceInitial
Mill Rating CRAB-ME 4 - - - 12-Dec-24

2306 Shahjahan Enterprise SME Initial CRAB-SE 3 - - - 16-Jan-25

55
Lr-Loan rating, Pr-Project rating, SO-Structured Obligation,
 Rating Update - March 2024
(Update up to 31 March 2024)

Sl No. Name of Client/Company Company/ Rating Type Entity Loan Ratings Rating
(Alphabetical order) Rating Long Term Short Term* Outlook Validity**
Firm Type

2307 Shahjahan Enterprise SME Initial Rating CRAB-SE 3 - - - 30-Dec-24

2308 Shahjalal CNG Filling Station & Workshop SME Surveillance CRAB-SE 3 - - - 12-Sep-24

2309 Shahjalal Electronics SME Surveillance CRAB-SE 3 - - - 30-Jun-24

2310 Shahjalal Library SME Initial Rating CRAB-SE 3 - - - 12-Dec-24

2311 Shahjibazar Power Company Ltd. Corporate Surveillance AA1 AA1(Lr) ST-1 Stable 31-Dec-24

2312 Shahnaj Furniture SME Surveillance CRAB-SE 3 - - - 24-May-24

2313 Shahnaz Filling Station & Service Center Ltd Corporate Initial Rating BBB1 - ST-3 - 01-Aug-24

2314 Shahporan Enterprise SME Initial Rating CRAB-SE 3 - - - 30-May-24

2315 Shahporan International Services SME Initial Rating CRAB-SE 3 - - - 21-Nov-24

2316 Shahporan Shillabhumi Stone Crusher SME Surveillance CRAB-SE 3 - - - 14-Nov-24

2317 Shahriar Salt Crushing Industries SME Surveillance CRAB-SE 3 - - - 20-Jun-24

2318 Shaikat Knitwear Corporate Surveillance BBB1 BBB1(Lr) ST-3 Stable 29-Apr-24

2319 Shaikh Enterprise SME Surveillance CRAB-SE 3 - - - 29-Jun-24

2320 Shajahan Store SME Surveillance CRAB-SE 3 - - - 12-Nov-24

2321 Shajeda and Co SME Initial Rating CRAB-SE 3 - - - 12-Apr-24

2322 Shakil Enterprise SME Surveillance CRAB-SE 3 - - - 10-Dec-24

2323 Shakil PVC & Rubber Industries Corporate Surveillance A3 A3(Lr) ST-3 Stable 28-Dec-24

2324 Shakila Feed & Chicks SME Surveillance CRAB-SE 3 - - - 28-Sep-24

2325 Shamim Electric SME Initial Rating CRAB-SE 3 - - - 12-Sep-24

2326 Shamimur Rahman SME Surveillance CRAB-SE 3 - - - 13-Nov-24

2327 Shamolima Limited Corporate Initial Rating BBB1 BBB1(Lr) ST-3 - 01-Aug-24

2328 Shampa Flour Mills Ltd Corporate Surveillance AAA AAA(Lr) ST-1 Stable 28-Feb-25

2329 Shampan Shoes Limited SME Surveillance CRAB-SE 3 - - - 04-Dec-24

2330 Shams Styling Wears Ltd Corporate Surveillance A2 A2(Lr) ST-3 Stable 30-Jun-24

2331 Shamser Knit Fashions Ltd Corporate Surveillance A3 A3(Lr) ST-3 Stable 11-Sep-24

2332 Shanghai Jiarui Metallurgical & Heavy Machinery (BD) Ltd SME Surveillance CRAB-SE 3 - - - 17-Aug-24

2333 Shanila Fashion Ltd Corporate Surveillance BBB3 - - Stable 01-Mar-25

2334 Shanon Sweaters Ltd Corporate Surveillance BBB2 BBB2(Lr) ST-3 Stable 20-Mar-25

2335 Shapla Enterprise and Its Sister Concern Rupsha Chemical Works
SME Initial Rating CRAB-SE 3 - - - 19-Dec-24

2336 Shapla Filling Station SME Surveillance CRAB-SE 2 - - - 06-Feb-25

2337 Shapla Rice Mill SME Surveillance CRAB-SE 3 - - - 07-Apr-24

2338 Sharfuddin Trading SME Surveillance CRAB-SE 3 - - - 15-Dec-24

2339 Sharif & Sons SME Surveillance CRAB-SE 3 - - - 20-Nov-24

2340 Sharif Cold Storage Limited Corporate Surveillance A2 A2(Lr) ST-3 Stable 13-Jun-24

2341 Sharif Enterprise SME Surveillance CRAB-SE 3 - - - 30-Dec-24

2342 Sharif Salt Industries SME Initial CRAB-SE 3 - - - 19-Feb-25

2343 Sharif Traders SME Surveillance CRAB-SE 3 - - - 28-Jul-24

2344 Shark Ltd SME Surveillance CRAB-SE 3 - - - 28-Sep-24

2345 Sharmin Enterprise SME Initial Rating CRAB-SE 3 - - - 19-Dec-24

2346 Shasha Denim Limited Corporate Surveillance AA3 AA3(Lr) ST-1, ST-2 Stable 29-Jun-24

2347 Shasha Garments Ltd Corporate Surveillance A1 A1(Lr) ST-2 Stable 30-Nov-24

2348 Shatarupa Enterprise SME Surveillance CRAB-ME 3 - - - 12-Nov-24

56
Lr-Loan rating, Pr-Project rating, SO-Structured Obligation,
 Rating Update - March 2024
(Update up to 31 March 2024)

Sl No. Name of Client/Company Company/ Rating Type Entity Loan Ratings Rating
(Alphabetical order) Rating Long Term Short Term* Outlook Validity**
Firm Type

2349 Shathi Enterprise SME Initial CRAB-SE 3 - - - 12-Mar-25

2350 Shatu Steels Ltd Corporate Surveillance BBB3 BBB3(Lr) ST-3 Stable 15-Feb-25

2351 Shawon Shipping Lines SME Initial Rating CRAB-SE 3 - - - 18-Jul-24

2352 Sheefa Sara Enterprise SME Surveillance CRAB-SE 3 - - - 09-Aug-24

2353 Sheikh Enterprise Sirajgonj SME Surveillance CRAB-SE 3 - - - 11-Mar-25

2354 Sheikh International SME Initial Rating CRAB-SE 3 - - - 14-Nov-24

2355 Sheltech (PVT) Limited Corporate Surveillance A2 A2(Lr) ST-3 Stable 31-Oct-24

2356 Sheltech Ceramics Ltd. Corporate Surveillance A3 A3(Lr) ST-3 Stable 31-Dec-24

2357 Sheltech Engineering Limited Corporate Surveillance AA3 AA3(Lr) ST-2 Stable 31-Oct-24

2358 Sheltech Technology Ltd. Corporate Surveillance BBB2 BBB2(Lr) ST-3 Stable 31-Dec-24

2359 Sherifa Machineries SME Initial Rating CRAB-SE 3 - - - 17-Oct-24

2360 Sherry Enterprise SME Surveillance CRAB-SE 3 - - - 30-Jul-24

2361 Shetue Fish Feed SME Surveillance CRAB-SE 3 - - - 25-Nov-24

2362 Shetue Plastic Industries SME Surveillance CRAB-SE 3 - - - 30-Nov-24

2363 Sheuly Fashion & its Sister Concern SME Surveillance CRAB-SE 3 - - - 16-Jun-24

2364 Shibly Enterprise SME Surveillance CRAB-SE 3 - - - 25-Nov-24

2365 Shifa Agros SME Initial Rating CRAB-SE 3 - - - 30-Oct-24

2366 Shikder Electronics SME Surveillance CRAB-SE 3 - - - 14-Dec-24

2367 Shilpi Mobile Media SME Initial Rating CRAB-SE 3 - - - 25-Jun-24

2368 Shining Moon Trims Ltd. SME Initial Rating CRAB-SE 3 - - - 07-Nov-24

2369 Shipa Emitation SME Initial Rating CRAB-SE 3 - - - 21-Nov-24

2370 Shiplu Oversease SME Initial Rating CRAB-SE 3 - - - 21-Nov-24

2371 Shirina Auto Rice Mill SME Initial CRAB-SE 3 - - - 16-Jan-25

2372 Shirirn Enterprise SME Surveillance CRAB-SE 3 - - - 25-Jun-24

2373 Shirt Makers Ltd Corporate Surveillance BBB3 BBB3(Lr) ST-3 Stable 24-May-24

2374 Shoagh Shoe Store SME Surveillance CRAB-SE 3 - - - 04-Dec-24

2375 Shohag Enterprise SME Surveillance CRAB-SE 3 - - - 12-Sep-24

2376 Shohag Traders SME Surveillance CRAB-SE 3 - - - 24-May-24

2377 Shohel Traders SME Initial CRAB-SE 3 - - - 19-Feb-25

2378 Shopfront Ltd Corporate Surveillance BBB1 - ST-1 Stable 19-Feb-25

2379 Show Motion Ltd. Corporate Surveillance A3 A3(Lr) ST-3 Stable 27-Dec-24

2380 Shukria Salt Crushing Industries SME Initial Rating CRAB-SE 3 - - - 24-May-24

2381 Shunhua Textile Industry & Accessories Limited Corporate Initial Rating BBB2 BBB2Lr) ST-3 Stable 20-Jun-24

2382 Shuvo Enterprise SME Surveillance CRAB-SE 3 - - - 22-Aug-24

2383 Shuvo Enterprise SME Surveillance CRAB-SE 3 - - - 26-Sep-24

2384 Shuvo Traders SME Initial CRAB-SE 3 - - - 16-Jan-25

2385 Siam Enterprise SME Initial Rating CRAB-SE 3 - - - 22-Aug-24

2386 Siam General Store SME Surveillance CRAB-SE 3 - - - 29-Jun-24

2387 Siam Poultry Farm SME Initial Rating CRAB-SE 3 - - - 25-Dec-24

2388 Siam Traders Corporate Initial Rating BBB3 BBB3(Lr) ST-4 Stable 16-May-24

2389 Sian Enterprise SME Initial Rating CRAB-SE 3 - - - 30-Aug-24

2390 Siddeshawari Cold Storage Limited Corporate Surveillance A2 A2(Lr) ST-3 Stable 13-Jun-24

57
Lr-Loan rating, Pr-Project rating, SO-Structured Obligation,
 Rating Update - March 2024
(Update up to 31 March 2024)

Sl No. Name of Client/Company Company/ Rating Type Entity Loan Ratings Rating
(Alphabetical order) Rating Long Term Short Term* Outlook Validity**
Firm Type

2391 Siddique Traders & its Sister concern SME Surveillance CRAB-SE 3 - - - 28-Dec-24

2392 Sidko Apparels Limited Corporate Surveillance BBB3 BBB3(Lr) ST-3 Stable 20-Dec-24

2393 Sijan Enterprise SME Initial Rating CRAB-SE 3 - - - 30-Dec-24

2394 Sikandar Ali & Sons SME Surveillance CRAB-SE 3 - - - 30-Jun-24

2395 Sikder Enterprise SME Initial Rating CRAB-SE 3 - - - 20-Jun-24

2396 Silicon Housing Limited SME Initial CRAB-SE 3 - - - 13-Feb-25

2397 Silmoon Electrodes Ltd. Corporate Surveillance BBB3 BBB3(Lr) ST-3 Stable 20-Dec-24

2398 Silva Pharmaceuticals Ltd Corporate Surveillance A3 A3(Lr) ST-1,ST-3 Stable 31-Dec-24

2399 Sima General Hospital and Diagnostic Centre SME Surveillance CRAB-SE 3 - - - 01-Feb-25

2400 Simanti Hat Bazar SME Surveillance CRAB-SE 3 - - - 28-Dec-24

2401 Simni Ship Recycling Industries SME Initial Rating CRAB-SE 3 - - - 12-Dec-24

2402 Sinthia Enterprise SME Surveillance CRAB-SE 3 - - - 02-Nov-24

2403 Siraj Dyeing and Printing Industries SME Initial CRAB-SE 3 - - - 19-Mar-25

2404 Siraj Iron Store SME Surveillance CRAB-SE 3 - - - 12-Nov-24

2405 Siraj Metal Industires SME Initial Rating CRAB-SE 3 - - - 14-Nov-24

2406 Siraj Stationery SME Surveillance CRAB-SE 3 - - - 07-Feb-25

2407 Sirajgonj Check Ind Ltd Corporate Surveillance BBB2 BBB2(Lr) ST-3 Stable 31-Mar-25

2408 Sister Denim Composite Ltd Corporate Surveillance A3 A3(Lr) ST-3 Stable 01-Feb-25

2409 SJ knitting and Apparels Ltd Corporate Surveillance BBB2 BBB2(Lr) ST-3 Stable 31-Dec-24

2410 SKL Animal Health Co. Ltd. SME Initial Rating CRAB-SE 3 - - - 18-Jul-24

2411 SKL Poultry & Dairy (PVT) Limited SME Surveillance CRAB-SE 3 - - - 30-Oct-24

2412 Sk's Planet SME Surveillance CRAB-SE 3 - - - 14-Jun-24

2413 Sky Enterprise SME Surveillance CRAB-SE 3 - - - 06-Feb-25

2414 Sky Star Industries Limited SME Surveillance CRAB-SE 3 - - - 25-Apr-24

2415 Skyline Apparels Limited Corporate Surveillance BBB1 BBB1(Lr) ST-3 Stable 30-Jun-24

2416 Skyline Garments Limited Corporate Surveillance BBB2 BBB2(Lr) ST-3 Stable 30-Jun-24

2417 SM Trading SME Initial CRAB-SE 3 - - - 23-Jan-25

2418 Smart Agrovet SME Surveillance CRAB-SE 3 - - - 30-Aug-24

2419 Smart Life Footwear Industries Corporate Initial Rating BBB1 BBB1(Lr) ST-3 Stable 17-Oct-24

2420 Smart Polymer Industries Ltd Corporate Initial BBB2 BBB2(Lr) ST-3 Stable 30-Jan-25

2421 SMG Engineering SME Initial Rating CRAB-SE 3 - - - 30-May-24

2422 Smrity Cloth Store SME Initial Rating CRAB-SE 3 - - - 14-Nov-24

2423 SMS Feeds Ltd. Corporate Surveillance BBB1 - ST-3 Stable 05-Nov-24

2424 Sobhan Ice And Cold Storage Limited Corporate Surveillance A2 A2(Lr) ST-3 Stable 13-Jun-24

2425 Sobhan Traders SME Initial Rating CRAB-SE 3 - - - 07-Nov-24

2426 Sobuz Enterprise SME Initial CRAB-SE 3 - - - 27-Feb-25

2427 Sohagpur Textile Mills Ltd Corporate Surveillance AA3 AA3(Lr) ST-3 Stable 30-Jun-24

2428 Sohel Textile Mills SME Surveillance CRAB-SE 3 - - - 20-Jun-24

2429 Sohel Traders SME Surveillance CRAB-SE 3 - - - 11-May-24

2430 Sohidul Islam Shikder SME Initial Rating CRAB-SE 3 - - - 26-Sep-24

2431 Solver Agropharma Limited SME Surveillance CRAB-SE 3 - - - 17-Jul-24

2432 Sonali Auto Rice Mill SME Surveillance CRAB-SE 3 - - - 06-Sep-24

58
Lr-Loan rating, Pr-Project rating, SO-Structured Obligation,
 Rating Update - March 2024
(Update up to 31 March 2024)

Sl No. Name of Client/Company Company/ Rating Type Entity Loan Ratings Rating
(Alphabetical order) Rating Long Term Short Term* Outlook Validity**
Firm Type

2433 Sonali Dredger Limited Corporate Surveillance BBB2 BBB2Lr) ST-3 Stable 13-Jun-24

2434 Sonali Paper and Board Mills Ltd Corporate Surveillance A2 A2(Lr) ST-3 Stable 31-Jan-25

2435 Sonali Paribahan Sangstha SME Surveillance CRAB-SE 2 - - - 12-Sep-24

2436 Sonar Bangla Textile SME Surveillance CRAB-SE 3 - - - 04-Dec-24

2437 Sonar Manufacturing Ltd Corporate Surveillance BBB2 BBB2(Lr) ST-3 Stable 31-May-24

2438 Sonargaon Steels Limited Corporate Surveillance A1 A1(Lr) ST-2 Stable 30-Jun-24

2439 Sonica Agri Foods Corporate Surveillance A3 A3(Lr) ST-3 Stable 30-Dec-24

2440 Sony Enterprise SME Surveillance CRAB-SE 3 - - - 03-Jun-24

2441 Sony Traders SME Surveillance CRAB-SE 3 - - - 18-Apr-24

2442 Sotota Traders SME Surveillance CRAB-SE 3 - - - 06-Sep-24

2443 South Bengal Construction (Pvt) Limited Corporate Initial Rating BBB2 BBB2 (Lr) ST-4 Stable 16-Apr-24

2444 South East Traders SME Surveillance CRAB-SE 3 - - - 10-Feb-25

2445 South Eastern Food Products Limited SME Initial Rating CRAB-ME 4 - - - 10-Oct-24

2446 Southern Agency SME Surveillance CRAB-SE 3 - - - 05-Apr-24

2447 Southern Designers Limited Corporate Surveillance BBB2 BBB2(Lr) ST-3 Stable 30-Sep-24

2448 Southern Services Ltd. Corporate Surveillance BBB1 BBB1(Lr) ST-3 Stable 30-Dec-24

2449 SP Woven Fabrics Ltd SME Surveillance CRAB-SE 3 - - - 01-Feb-25

2450 Specialized Physiotherapy & Arthrities Research Center Ltd SME Initial Rating CRAB-SE 3 - - - 08-May-24

2451 Spectra Dye Chem Pvt Limited SME Surveillance CRAB-SE 3 - - - 28-Nov-24

2452 Speedcare Distribution Limited Corporate Surveillance BBB3 BBB3(Lr) ST-3 Stable 01-Jun-24

2453 Speedy International Ltd Corporate Surveillance A2 A2(Lr) ST-3 Stable 31-Oct-24

2454 Spellbound BD SME Initial Rating CRAB-SE 3 - - - 06-Apr-24

2455 Spider Digital Security SME Initial Rating CRAB-SE 3 - - - 12-Apr-24

2456 Sports Bazar SME Surveillance CRAB-SE 3 - - - 23-Mar-25

2457 Spring Trade Ltd. Corporate Surveillance BBB3 BBB3(Lr) ST-3 Stable 21-Nov-24

2458 SR Dairy Farm SME Surveillance CRAB-SE 3 - - - 26-Nov-24

2459 SR Highway Services Corporate Initial Rating BBB1 BBB1(Lr) ST-3 Stable 13-Jun-24

2460 SR Parcel Services Corporate Initial Rating BBB2 - ST-3 Stable 08-May-24

2461 SR Technotrade Limited Corporate Initial Rating BBB2 BBB2(Lr) - Stable 22-Aug-24

2462 SRP Sweaters SME Surveillance CRAB-ME 2 - - - 31-Dec-24

2463 SS Corporation SME Surveillance CRAB-SE 3 - - - 24-Jun-24

2464 SS Enterprise SME Initial CRAB-SE 3 - - - 06-Feb-25

2465 Standard Engineers Ltd. Corporate Surveillance BBB2 BBB2(Lr) ST-3 Stable 29-Jun-24

2466 Standard Group Ltd. Corporate Surveillance AA3 AA3(Lr) ST-2 Stable 23-Sep-24

2467 Standard Stitches Ltd Corporate Surveillance AA2 AA2(Lr) ST-2 Stable 30-Jun-24

2468 Standard Wash Ltd. Corporate Initial Rating BBB1 BBB1(Lr) ST-3 Stable 12-Dec-24

2469 Star Land Trading SME Initial Rating CRAB-SE 3 - - - 12-Sep-24

2470 Star line Auto bricks Limited Corporate Surveillance A3 A3(Lr) ST-3 Stable 30-Dec-24

2471 Star Line Auto Major Flour Mills Ltd. Corporate Surveillance BBB2 - ST-3 Stable 30-Dec-24

2472 Star Line Bricks Unit 1 Corporate Surveillance BBB3 BBB3(Lr) ST-3 Stable 24-Dec-24

2473 Star line CNG Filling Station Corporate Surveillance BBB2 BBB2(Lr) ST-3 Stable 12-Nov-24

2474 Star Line Food Products Ltd. Corporate Surveillance BBB2 BBB2(Lr) ST-3 Stable 30-Dec-24

59
Lr-Loan rating, Pr-Project rating, SO-Structured Obligation,
 Rating Update - March 2024
(Update up to 31 March 2024)

Sl No. Name of Client/Company Company/ Rating Type Entity Loan Ratings Rating
(Alphabetical order) Rating Long Term Short Term* Outlook Validity**
Firm Type

2475 Star Line Special Ltd. Corporate Surveillance BBB2 BBB2(Lr) ST-3 Stable 30-Dec-24

2476 Star Motors Corporate Surveillance BBB3 ST-3 Stable 26-Nov-24

2477 Star Padding Industries Ltd SME Surveillance CRAB-ME 2 - - - 25-Dec-24

2478 Star Power SME Surveillance CRAB-SE 3 - - - 06-Sep-24

2479 Starline Poulty & Fisheries SME Surveillance CRAB-SE 3 - - - 27-Jun-24

2480 Steel & Cement Corporation Corporate Surveillance A3 A3(Lr) ST-3 Stable 30-Nov-24

2481 Steel Plus SME Initial Rating CRAB-SE 3 - - - 08-May-24

2482 Steeltech Industries Ltd Corporate Surveillance A2 A2(Lr) ST-3 Stable 30-Jun-24

2483 Stellar Trading SME Initial Rating CRAB-SE 3 - - - 17-Oct-24

2484 Step SME Initial Rating CRAB-SE 3 - - - 30-Dec-24

2485 Sterling Designs Ltd. Corporate Surveillance BBB1 BBB1(Lr) ST-3 Stable 23-Sep-24

2486 Stitch Well Designs Ltd. Corporate Surveillance BBB1 BBB1(Lr) ST-3 Stable 28-Dec-24

2487 STS Holdings Ltd Corporate Surveillance AA1 AA1(Lr) ST-2 Stable 31-Mar-25

2488 STS Hospital Chittagong Ltd Corporate Surveillance A3 A3(Lr) ST-3 Stable 31-Mar-25

2489 Stylecraft Limited Corporate Surveillance BBB2 BBB2(Lr) ST-3 Stable 31-May-24

2490 Suborna Enterprise SME Initial CRAB-SE 3 - - - 06-Feb-25

2491 Suchana Properties Ltd SME Surveillance CRAB-SE 4 - - - 08-Aug-24

2492 Suddquie Traders SME Initial Rating CRAB-SE 3 - - - 26-Sep-24

2493 Sudhir Store SME Initial Rating CRAB-SE 3 - - - 05-Dec-24

2494 Sufia Fabrics Limited Corporate Surveillance A2 A2(Lr) ST-3 Stable 30-Jun-24

2495 Sufiea Entrepreneurs SME Surveillance CRAB-SE 3 - - - 16-Jun-24

2496 Sugandha Agro Fisheries SME Surveillance CRAB-SE 3 - - - 29-Oct-24

2497 Suhada Enterprise SME Surveillance CRAB-SE 3 - - - 26-Sep-24

2498 Sukhnagari Agro Ltd. SME Initial Rating CRAB-SE 3 - - - 22-Aug-24

2499 Sukhy Dyeing Finishing Mills Ltd. SME Surveillance CRAB-ME 5 - - - 29-Sep-24

2500 Sultan Motors Tailoring SME Surveillance CRAB-SE 3 - - - 29-Mar-25

2501 Sultana Motors Parts SME Surveillance CRAB-SE 3 - - - 25-Aug-24

2502 Sultana Traders SME Initial Rating CRAB-SE 3 - - - 30-Dec-24

2503 Suma Chaul Kall SME Initial Rating CRAB-SE 3 - - - 12-Dec-24

2504 Suma International Services SME Surveillance CRAB-SE 3 - - - 26-Sep-24

2505 Sumaya Akhter Sumi Plastic & Co. SME Surveillance CRAB-SE 3 - - - 12-Dec-24

2506 Sumi Construction SME Initial CRAB-SE 3 - - - 27-Feb-25

2507 Sumi Cottage Industries SME Initial Rating CRAB-SE 3 - - - 30-Aug-24

2508 Sumi Enterprise SME Initial Rating CRAB-SE 3 - - - 30-Dec-24

2509 Summit Alliance Port Ltd Corporate Surveillance AA2 AA2(Lr) ST-2 Stable 31-Mar-25

2510 Sumon & Brothers SME Surveillance CRAB-SE 3 - - - 02-Jun-24

2511 Sumon and Brothers (Sylhet) SME Surveillance CRAB-SE 3 - - - 10-Mar-25

2512 Sumon Brothers SME Initial Rating CRAB-SE 3 - - - 12-Dec-24

2513 Sumon Brothers 2 SME Initial Rating CRAB-SE 3 - - - 12-Dec-24

2514 Sumon Enterprise SME Surveillance CRAB-SE 3 - - - 25-Nov-24

2515 Sumon Enterprise (Kurigram) SME Initial Rating CRAB-SE 3 - - - 12-Sep-24

2516 Sumon Enterprise (Sylhet) SME Surveillance CRAB-SE 3 - - - 14-Nov-24

60
Lr-Loan rating, Pr-Project rating, SO-Structured Obligation,
 Rating Update - March 2024
(Update up to 31 March 2024)

Sl No. Name of Client/Company Company/ Rating Type Entity Loan Ratings Rating
(Alphabetical order) Rating Long Term Short Term* Outlook Validity**
Firm Type

2517 Sumon Sohag Rice Mill SME Surveillance CRAB-SE 3 - - - 29-Sep-24

2518 Sumon Traders SME Surveillance CRAB-SE 3 - - - 30-Dec-24

2519 Sumona Jewellers SME Surveillance CRAB-SE 3 - - - 29-Aug-24

2520 Sun Seed Pesticides SME Initial Rating CRAB-SE 3 - - - 19-Dec-24

2521 Sunlite Trading and Services Ltd Corporate Surveillance BBB3 BBB3(Lr) ST-3 Stable 31-Jan-25

2522 Sunnex Ltd Corporate Surveillance BBB2 BBB2(Lr) ST-3 Stable 29-Jun-24

2523 Sunny Auto Rice Mill SME Surveillance CRAB-SE 3 - - - 28-Dec-24

2524 Sunny Foils and Polymer Industries Limited Corporate Surveillance BBB2 BBB2(Lr) ST-3 Stable 28-Dec-24

2525 Sunwe Footwear Ltd SME Surveillance CRAB-SE 3 - - - 30-May-24

2526 Super Computer SME Initial Rating CRAB-SE 3 - - - 30-May-24

2527 Suprova International SME Initial CRAB-SE 3 - - - 16-Jan-25

2528 Suraiya Atop Automatic Rice Mill SME Initial CRAB-SE 3 - - - 19-Feb-25

2529 Suraya Husking Mill SME Initial Rating CRAB-SE 3 - - - 30-Dec-24

2530 Surjo Traders SME Surveillance CRAB-SE 3 - - - 05-Nov-24

2531 Surma Agro Farm SME Initial Rating CRAB-SE 3 - - - 01-Aug-24

2532 Surma Auto Servicing Center SME Initial Rating CRAB-SE 3 - - - 12-Apr-24

2533 Surma Bricks SME Surveillance CRAB-SE 4 - - - 22-Aug-24

2534 Surma Medical Services Limited Corporate Initial Rating BBB3 BBB3(Lr) ST-3 Stable 06-Jun-24

2535 Surma Trading Agencee SME Initial Rating CRAB-SE 3 - - - 05-Apr-24

2536 Surma Trading Corporation SME Initial Rating CRAB-SE 3 - - - 08-Aug-24

2537 Surovi Enterprise SME Surveillance CRAB-SE 2 - - - 28-Jul-24

2538 Susmita Traders SME Initial Rating CRAB-SE 3 - - - 30-Aug-24

2539 Swarna Industries SME Surveillance CRAB-SE 3 - - - 24-May-24

2540 Sweet Home Architect and Engineering SME Initial CRAB-SE 3 - - - 06-Feb-25

2541 Sweet Machineries SME Initial CRAB-SE 3 - - - 23-Jan-25

2542 Sylhet Trading Agency SME Surveillance CRAB-SE 3 - - - 25-Jun-24

2543 Sylhet Welding Engineering Co Mfg SME Surveillance CRAB-SE 3 - - - 06-Jun-24

2544 Sylvan Technologies Limited Corporate Initial Rating A3 A3(Lr) ST-3 Stable 31-Mar-24

2545 Symon Steel SME Initial Rating CRAB-SE 3 - - - 10-Oct-24

2546 Synthia Traders SME Initial Rating CRAB-SE 3 - - - 19-Dec-24

2547 Systech Digital Limited SME Surveillance CRAB-SE 3 - - - 14-Sep-24

2548 Systems Solutions & Development Technologies Ltd Corporate Surveillance AA2 AA2(Lr) ST-2 Stable 31-Mar-24

2549 T M Chemicals Ltd. SME Surveillance CRAB-SE 3 - - - 26-Nov-24

2550 Tafazzul & Sons SME Surveillance CRAB-SE 3 - - - 21-Aug-24

2551 Taha Enterprise SME Surveillance CRAB-SE 3 - - - 21-Nov-24

2552 Taher Traders SME Surveillance CRAB-SE 3 - - - 29-Jun-24

2553 Tahiya Stone Crusher SME Surveillance CRAB-SE 3 - - - 08-May-24

2554 Tahmid Traders SME Initial Rating CRAB-SE 3 - - - 24-Oct-24

2555 Tahsin Agro SME Surveillance CRAB-SE 3 - - - 07-Nov-24

2556 Taj International Limited SME Surveillance CRAB-SE 4 - - - 30-Sep-24

2557 Tajwar Trade Systems Ltd. Corporate Surveillance A3 - ST-3 Stable 21-Sep-24

2558 Takbir Enterprise SME Surveillance CRAB-SE 3 - - - 06-Sep-24

2559 Taki Waste Cotton Refinery SME Surveillance CRAB-SE 3 - - - 17-Apr-24

2560 Talha Tex Pro Ltd Corporate Surveillance A2 A2(Lr) ST-3 Stable 31-Jan-25

2561 Talisman Ltd Corporate Surveillance A1 - ST-2 Stable 13-Feb-25

61
Lr-Loan rating, Pr-Project rating, SO-Structured Obligation,
 Rating Update - March 2024
(Update up to 31 March 2024)

Sl No. Name of Client/Company Company/ Rating Type Entity Loan Ratings Rating
(Alphabetical order) Rating Long Term Short Term* Outlook Validity**
Firm Type

2562 Taljhari Krishi Khamar SME Surveillance CRAB-SE 3 - - - 29-Aug-24

2563 Talukder Packaging & Printing Ltd SME Initial Rating CRAB-SE 4 - - - 08-May-24

2564 Tamanna Petro Trading Co SME Surveillance CRAB-SE 3 - - - 24-Apr-24

2565 Tamanna Trading SME Surveillance CRAB-SE 3 - - - 28-Oct-24

2566 Tamim & Brothers SME Surveillance CRAB-SE 3 - - - 28-Sep-24

2567 Tamim Enterprise SME Initial Rating CRAB-SE 3 - - - 13-Jun-24

2568 Tamim Enterprise SME Surveillance CRAB-SE 3 - - - 22-Dec-24

2569 Tamina Enterprise SME Initial CRAB-SE 3 - - - 19-Mar-25

2570 Tampaco Foils Ltd. Corporate Surveillance A3 A3(Lr) ST-3 Stable 04-Dec-24

2571 Tanaz Fashions Ltd Corporate Surveillance A2 A2(Lr) ST-3 Stable 21-Sep-24

2572 Tania Agro Food Industries Corporate Surveillance BBB2 BBB2(Lr) ST-3 Stable 30-Dec-24

2573 Tania Enterprise SME Surveillance CRAB-SE 3 - - - 25-Jun-24

2574 Tanim Enterprise SME Surveillance CRAB-SE 3 - - - 22-Aug-24

2575 Tanisha Enterprise SME Initial Rating CRAB-SE 3 - - - 12-Dec-24

2576 Tanisha Package & Accessories SME Initial Rating CRAB-SE 3 - - - 16-May-24

2577 Tanjim Traders SME Surveillance CRAB-SE 3 - - - 29-Oct-24

2578 Tanmoy Traders SME Initial Rating CRAB-SE 3 - - - 06-Jun-24

2579 Tannima Enterprise SME Surveillance CRAB-SE 3 - - - 10-Jun-24

2580 Tanvir Enterprise SME Initial Rating CRAB-SE 3 - - - 24-Oct-24

2581 Tanvir Telecom SME Initial Rating CRAB-SE 3 - - - 25-Dec-24

2582 Tanvir Traders SME Surveillance CRAB-SE 3 - - - 20-Jun-24

2583 Tanzila Enterprise SME Initial Rating CRAB-SE 3 - - - 17-Oct-24

2584 Tarasima Apparels Ltd. Corporate Surveillance AA3 AA3(Lr) ST-2 Stable 31-Oct-24

2585 Taratex Fashion Limited Corporate Surveillance BBB3 BBB3(Lr) ST-3 Stable 09-Dec-24

2586 Tareq Traders SME Initial Rating CRAB-SE 3 - - - 07-Nov-24

2587 Target SME Surveillance CRAB-SE 3 - - - 27-Jun-24

2588 Tasif Enterprise SME Surveillance CRAB-SE 3 - - - 19-Sep-24

2589 Tawseef Enterprise SME Surveillance CRAB-SE 4 - - - 30-Jul-24

2590 Tawsif Banarashi Fashion SME Initial Rating CRAB-SE 3 - - - 30-Dec-24

2591 Tayeba Weaving Factory SME Surveillance CRAB-SE 3 - - - 05-Nov-24

2592 Tazrian Weaving Mills Ltd. Corporate Surveillance A2 A2(Lr) ST-3 Stable 31-Dec-24

2593 TBH CO SME Surveillance CRAB-SE 3 - - - 13-Feb-25

2594 Td Packaging & Accessories Ind. SME Initial Rating CRAB-SE 3 - - - 18-Jul-24

2595 Tech Square Engineering SME Initial Rating CRAB-SE 3 - - - 15-Aug-24

2596 Technaf Solartech Energy Limited Corporate Surveillance A1 A1(Lr) ST-2 Stable 19-Nov-24

2597 Technological Machines and Spares Ltd SME Initial Rating CRAB-SE 4 - - - 20-Jun-24

2598 Technology Park SME Initial CRAB-SE 3 - - - 19-Feb-25

2599 Techsol Engineering Limited Corporate Surveillance BBB2 BBB2(Lr) ST-3 Stable 10-Oct-24

2600 Tens Agro Limited Corporate Initial Rating BBB3 BBB3(Lr) ST-3 Stable 25-Jun-24

2601 Textile Associates Limited SME Surveillance CRAB-ME 3 - - - 14-Sep-24

2602 Textown Limited Corporate Surveillance BBB1 BBB1(Lr) ST-3 Stable 25-Mar-25

2603 Thai-Foils & Polymer Industries Ltd. Corporate Surveillance A2 A2(Lr) ST-3 Stable 14-Nov-24

2604 Thakral Information System Pvt. Ltd. Corporate Surveillance A2 - ST-2 Stable 27-Sep-24

2605 The Civil Engineers Ltd. Corporate Surveillance AA2 AA2(Lr) ST-2 Stable 23-Sep-24

2606 The Civil Engineers Wash Ltd Corporate Initial Rating BBB1 BBB1(Lr) ST-3 Stable 12-Dec-24

62
Lr-Loan rating, Pr-Project rating, SO-Structured Obligation,
 Rating Update - March 2024
(Update up to 31 March 2024)

Sl No. Name of Client/Company Company/ Rating Type Entity Loan Ratings Rating
(Alphabetical order) Rating Long Term Short Term* Outlook Validity**
Firm Type

2607 The Civil Engineers Woven Ltd Corporate Initial Rating A1 A1(Lr) ST-3 Stable 12-Dec-24

2608 The Consolidated Tea And Lands Company Bangladesh Limited

Corporate Surveillance AA1 AA1(Lr) ST-1 Stable 31-Dec-24

2609 The Haque Cloth Store SME Initial CRAB-SE 3 - - - 05-Mar-25

2610 The Merchants Limited Corporate Surveillance A3 A3(Lr) ST-3 Stable 31-May-24

2611 The New Tyre Centre SME Surveillance CRAB-SE 3 - - - 30-Dec-24

2612 The Peninsula Chittagong Ltd. Corporate Surveillance AA3 AA3(Lr) ST-2 Stable 06-Nov-24

2613 The Rose Dresses Ltd. Corporate Surveillance A3 A3(Lr) ST-3 Stable 15-Aug-24

2614 The Sylhet Tea Company Limited Corporate Surveillance BB3 BB3(Lr) ST-4 Stable 28-Sep-24

2615 Thermax Colour Cotton Limited Corporate Surveillance A3 A3(Lr) ST-3 Stable 28-Sep-24

2616 Thermax Blended Yarn Ltd Corporate Surveillance A3 A3(Lr) ST-3 Stable 14-Jun-24

2617 Thianis Apparels Limited Corporate Surveillance BBB1 BBB1(Lr) ST-3 Stable 26-Sep-24

2618 Three Star Agro Industries SME Surveillance CRAB-SE 3 - - - 07-Feb-25

2619 Tiger IT Bangladesh Ltd Corporate Surveillance A3 A3(Lr) ST-3 Stable 28-Feb-25

2620 Tiles View SME Surveillance CRAB-SE 3 - - - 23-Sep-24

2621 Tilottoma Trade Center SME Surveillance CRAB-SE 3 - - - 31-Jan-25

2622 Tippera Tannery SME Initial Rating CRAB-SE 3 - - - 25-Jul-24

2623 Tipu Enterprise SME Surveillance CRAB-SE 3 - - - 14-Nov-24

2624 Tisha Lamination SME Initial Rating CRAB-SE 3 - - - 07-Nov-24

2625 Tithi Textile Mills Pvt Ltd. Corporate Surveillance A3 A3(Lr) ST-3 Stable 29-Jun-24

2626 Tofique Enterprise SME Initial CRAB-SE 3 - - - 27-Feb-25

2627 Toggi Green Ship Breaking and Recycling Ltd Corporate Initial BBB1 - ST-3 Stable 13-Feb-25

2628 Toggi Services Ltd. Corporate Surveillance A3 A3(Lr) ST-3 Stable 30-Dec-24

2629 Toha Agro Farm SME Initial Rating CRAB-SE 3 - - - 25-Dec-24

2630 Tohidul Islam SME Surveillance CRAB-SE 3 - - - 10-Jun-24

2631 Tokai Power Products Ltd Corporate Initial Rating BBB3 BBB3(Lr) ST-3 Stable 25-Jul-24

2632 Tokyo Food SME Initial Rating CRAB-ME 3 - - - 08-Aug-24

2633 Toma Concrete Ltd Corporate Surveillance BBB1 BBB1(Lr) ST-3 Stable 27-Feb-25

2634 Toma Construction and Co Ltd Corporate Surveillance A1 A1(Lr) ST-3 Stable 27-Feb-25

2635 Tonmoy Hardware Store SME Surveillance CRAB-SE 3 - - - 30-Jul-24

2636 Tonmoy Traders Corporate Surveillance BBB1 BBB1(Lr) ST-3 Stable 05-Aug-24

2637 Top Ten Fabrics & Tailors Ltd. Corporate Initial Rating BBB2 BBB2(Lr) ST-3 Stable 30-Oct-24

2638 Topways Industrial Ltd Corporate Surveillance BB1 BB1(Lr) ST-4 Stable 30-Sep-24

2639 Torque Apparels Ltd. Corporate Surveillance BBB3 BBB3(Lr) ST-3 Stable 11-Sep-24

2640 Trade International SME Surveillance CRAB-ME 3 - - - 19-Nov-24

2641 Trade International Industries Ltd Corporate Surveillance A3 A3(Lr) ST-3 Stable 28-Feb-25

2642 Trade Wave International SME Surveillance CRAB-SE 3 - - - 06-Sep-24

2643 Traders Hub SME Surveillance CRAB-SE 3 - - - 06-Nov-24

2644 Transpac Engineering & Manufacturing Ltd. SME Initial Rating CRAB-SE 4 - - - 26-Sep-24

2645 Transworld Sweaters Ltd. Corporate Surveillance BBB2 - ST-3 Stable 23-Sep-24

2646 Travel Business Portal SME Initial CRAB-SE 3 - - - 19-Feb-25

2647 Trazz BD SME Surveillance CRAB-SE 4 - - - 30-Jul-24

2648 Treat Point Limited SME Surveillance CRAB-ME 3 - - - 16-May-24

2649 Trims Traders SME Initial Rating CRAB-SE 3 - - - 05-Dec-24

2650 TS Transformer Limited Corporate Surveillance BBB1 BBB1(Lr) ST-3 Stable 10-Dec-24

2651 TSCO Power Limited Corporate Surveillance BBB1 BBB1(Lr) ST-3 Stable 10-Dec-24

63
Lr-Loan rating, Pr-Project rating, SO-Structured Obligation,
 Rating Update - March 2024
(Update up to 31 March 2024)

Sl No. Name of Client/Company Company/ Rating Type Entity Loan Ratings Rating
(Alphabetical order) Rating Long Term Short Term* Outlook Validity**
Firm Type

2652 TSR International SME Initial Rating CRAB-SE 3 - - - 30-Dec-24

2653 Tuhin Medical Hall SME Initial Rating CRAB-SE 3 - - - 14-Nov-24

2654 Tunic Apparels Ltd Corporate Surveillance A3 A3(Lr) ST-3 Stable 28-Sep-24

2655 Turja Enterprise SME Initial Rating CRAB-SE 3 - - - 22-Aug-24

2656 Turjo Enterprise SME Initial CRAB-SE 3 - - - 26-Mar-25

2657 Tusti Enterprise SME Initial Rating CRAB-SE 4 - - - 01-Aug-24

2658 Tusuka Apparels Ltd Corporate Surveillance A2 A2(Lr) ST-3 Stable 22-Apr-24

2659 Tusuka Denim Ltd Corporate Surveillance AA3 AA3(Lr) ST-2 Stable 22-Apr-24

2660 Tusuka Fashions Ltd Corporate Surveillance A1 A1(Lr) ST-3 Stable 22-Apr-24

2661 Tusuka Jeans Ltd Corporate Surveillance A1 A1(Lr) ST-3 Stable 22-Apr-24

2662 Tusuka Washing Ltd Corporate Surveillance A3 A3(Lr) ST-3 Stable 22-Apr-24

2663 Two Star SME Initial Rating CRAB-SE 3 - - - 14-Nov-24

2664 U K Bangla Cement Limited Project Surveillance A3(Pr) - - - 26-Sep-24

2665 U N D Carton Ltd SME Initial Rating CRAB-SE 3 - - - 12-Apr-24

2666 Udayan Agro SME Initial Rating CRAB-SE 3 - - - 30-Dec-24

2667 Ultimate Fashion Limited Corporate Surveillance BBB1 BBB1(Lr) ST-3 Stable 27-Jun-24

2668 Ultrapack Ltd Corporate Surveillance BBB1 BBB1(Lr) ST-3 Stable 30-Jun-24

2669 Umatara Khadya Bhander SME Initial Rating CRAB-SE 3 - - - 30-Dec-24

2670 Ummi Al Monowara Flour Mills Ltd Project Initial BBB1(Pr) - - - 30-Jan-25

2671 Uni Gears Ltd Corporate Surveillance A2 A2(Lr) ST-3 Stable 30-Jan-25

2672 Unico Hospitals PLC Corporate Initial Rating BBB2(Pr) - - - 05-Apr-24

2673 Unicom Textile Mills Limited Corporate Surveillance BBB1 BBB1(Lr) ST-3 Stable 11-Jun-24

2674 Unicorn Distribution Ltd Corporate Surveillance BBB1 - ST-3 Stable 19-Feb-25

2675 Unicorn Leather Products Manufacturer SME Surveillance CRAB-ME 3 - - - 05-Nov-24

2676 Unifill Composite Dyeing Mills Ltd Corporate Surveillance BBB2 BBB2(Lr) ST-3 Stable 29-Jun-24

2677 Unimax Chemical SME Initial Rating CRAB-SE 3 - - - 30-May-24

2678 Unimax Industries Limited Corporate Surveillance A2 - ST-1,ST-3 Stable 30-Nov-24

2679 Union BD Consumers Ltd SME Surveillance CRAB-SE 3 - - - 30-Jun-24

2680 Union Feeds Ltd. SME Surveillance CRAB-SE 3 - - - 24-Nov-24

2681 Union Sportswear Ltd Corporate Surveillance A3 A3(Lr) ST-3 Stable 21-Sep-24

2682 Unique Business Systems Ltd Corporate Surveillance A3 A3(Lr) ST-3 Stable 28-Dec-24

2683 Unique Designers Ltd Corporate Initial Rating A2 A2(Lr) ST-3 Stable 12-Nov-24

2684 Unique Infoway Ltd Corporate Initial Rating BBB3 BBB3(Lr) ST-4 Stable 25-Jul-24

2685 Unique Meghnaghat Power Limited Corporate Surveillance A3(Pr) - - - 15-Apr-24

2686 Unique Washing and Dyeing Ltd. Corporate Initial Rating BBB2 BBB2(Lr) ST-3 Stable 12-Nov-24

2687 United Agri Care Ltd Project Initial Rating BBB3 BBB3(Lr) ST-3 Stable 08-Aug-24

2688 United Anwara Power Ltd Corporate Surveillance AA2 AA2(Lr) ST-2 Stable 31-Mar-24

2689 United Corporation SME Surveillance CRAB-SE 3 - - - 30-Oct-24

2690 United Engineers & Construction Limited SME Surveillance CRAB-SE 3 - - - 30-Apr-24

2691 United Fashion Wear Ltd. Corporate Surveillance BBB3 BBB3(Lr) ST-3 Stable 25-Aug-24

2692 United Link Ltd. Corporate Initial Rating BBB2 BBB2(Lr) ST-3 Stable 19-Sep-24

2693 United Multi Agro Ltd Corporate Initial Rating BBB1 BBB1(Lr) ST-3 Stable 25-Jul-24

2694 United Progressive Dredging Ltd Corporate Initial Rating BBB2 BBB2(Lr) ST-3 Stable 06-Jun-24

2695 United Service SME Surveillance CRAB-SE 3 - - - 16-Jan-25

2696 United Traders Corporate Surveillance AA3 AA3(Lr) ST-2 Stable 13-Jun-24

64
Lr-Loan rating, Pr-Project rating, SO-Structured Obligation,
 Rating Update - March 2024
(Update up to 31 March 2024)

Sl No. Name of Client/Company Company/ Rating Type Entity Loan Ratings Rating
(Alphabetical order) Rating Long Term Short Term* Outlook Validity**
Firm Type

2697 Unitex Labels Limited Corporate Initial Rating BBB1 BBB1(Lr) ST-3 Stable 16-May-24

2698 Unity Accessories (Pvt.) Ltd SME Surveillance CRAB-ME 2 - - - 20-Sep-24

2699 Unity Diagnostic & Hospital SME Surveillance CRAB-SE 3 - - - 26-Jun-24

2700 Universal Agency SME Surveillance CRAB-ME 3 - - - 07-Jun-24

2701 Universal Denims Ltd. Corporate Surveillance BBB3(Pr) - - - 12-Dec-24

2702 Universal Engineering SME Surveillance CRAB-ME 3 - - - 28-Dec-24

2703 Universal Enterprise SME Surveillance CRAB-SE 3 - - - 25-Jul-24

2704 Universal Gas & Gas Cylinder Ltd. Corporate Surveillance BBB1 BBB1(Lr) ST-3 Stable 07-Jun-24

2705 Universal Menswear Ltd Corporate Surveillance AA3 AA3(Lr) ST-2 Stable 28-Feb-25

2706 Universal Packaging SME Surveillance CRAB-SE 3 - - - 30-Jan-25

2707 Universal Power Ltd. SME Surveillance CRAB-SE 3 - - - 31-Mar-24

2708 Universal Refinery (Pvt.) Limited SME Initial Rating CRAB-ME 5 - - - 26-Sep-24

2709 Unnayan International Corporate Initial Rating BBB3 - - Stable 01-Aug-24

2710 Update Aviation Ltd Corporate Surveillance A3 - ST-3 Stable 30-Nov-24

2711 Urmi Sormi Weaving Factory SME Surveillance CRAB-SE 3 - - - 23-Sep-24

2712 US Energy And Power (Pvt) Ltd. Corporate Surveillance BBB1 BBB1(Lr) ST-3 Stable 07-Jun-24

2713 Usha Silk Printing & Weaving Factory SME Surveillance CRAB-SE 3 - - - 06-Sep-24

2714 Utsho Glass Thai & Aluminum SME Surveillance CRAB-SE 3 - - - 29-Jun-24

2715 Utshob Traders SME Initial CRAB-SE 3 - - - 16-Jan-25

2716 Uttam Flaower And Oil Mill SME Surveillance CRAB-SE 3 - - - 18-Oct-24

2717 Uttara Development Program Society Corporate Initial Rating A2 A2(Lr) ST-3 Stable 30-Sep-24

2718 Uttara Enterprise SME Initial Rating CRAB-SE 3 - - - 25-Jun-24

2719 Uttara Green Tea Industries Limited Corporate Initial BB1 BB1(Lr) - Stable 16-Jan-25

2720 Uttara Marbel & Tiles SME Initial Rating CRAB-SE 3 - - - 21-Nov-24

2721 Uttara University Corporate Surveillance A3 A3(Lr) ST-1 Stable 17-Nov-24

2722 Uzzal Enterprise SME Surveillance CRAB-SE 3 - - - 26-Sep-24

2723 V I P Automobiles SME Initial Rating CRAB-SE 3 - - - 06-Sep-24

2724 Vai Vai Husking Mill SME Initial CRAB-SE 3 - - - 19-Feb-25

2725 Vai Vai Traders SME Initial Rating CRAB-SE 3 - - - 16-May-24

2726 Vai Vai Traders (Janata Bank) SME Initial Rating CRAB-SE 3 - - - 19-Nov-24

2727 Vai Vai Variety Store SME Initial Rating CRAB-SE 3 - - - 05-Apr-24

2728 Vai Vai Variety Store SME Surveillance CRAB-SE 3 - - - 21-Sep-24

2729 Vandari Chaul Kall SME Surveillance CRAB-SE 3 - - - 01-Aug-24

2730 Victor Breeders Ltd. SME Surveillance CRAB-SE 4 - - - 05-Dec-24

2731 Victor Feeds Ltd. SME Surveillance CRAB-SE 3 - - - 05-Dec-24

2732 Village Technologies Ltd SME Surveillance CRAB-SE 3 - - - 29-Mar-25

2733 Vintage Garments Ltd Corporate Surveillance A3 A3(Lr) ST-3 Stable 21-Sep-24

2734 Vision Enterprise SME Surveillance CRAB-SE 3 - - - 02-Jun-24

2735 Vision JIT Enterprise Corporate Surveillance BBB3 BBB3(Lr) ST-3 Stable 11-Dec-24

2736 Vision Trade International SME Initial Rating CRAB-SE 3 - - - 25-Dec-24

2737 Vitalac Dairy and Food Industries Ltd Corporate Surveillance A1 A1(Lr) ST-3 Stable 19-Feb-25

2738 Von Dutch SME Surveillance CRAB-SE 2 - - - 29-Apr-24

2739 VOTT Oil Refineries Ltd Corporate Surveillance AAA - ST-1 Stable 28-Feb-25

2740 W H trims & Packaging Industries Limited Corporate Surveillance BBB3 BBB3(Lr) ST-3 Stable 19-Dec-24

2741 Wahid Auto Works SME Surveillance CRAB-SE 3 - - - 27-Feb-25

65
Lr-Loan rating, Pr-Project rating, SO-Structured Obligation,
 Rating Update - March 2024
(Update up to 31 March 2024)

Sl No. Name of Client/Company Company/ Rating Type Entity Loan Ratings Rating
(Alphabetical order) Rating Long Term Short Term* Outlook Validity**
Firm Type

2742 Wasco Biscuit & Bread Factory Corporate Surveillance BBB1 BBB1(Lr) ST-3 Stable 25-Dec-24

2743 Washout Ltd SME Surveillance CRAB-SE 5 - - - 31-Jan-25

2744 Wealth Development & Management Limited. SME Surveillance CRAB-SE 3 - - - 20-Oct-24

2745 Wear Mag Ltd Corporate Surveillance AA2 AA2(Lr) ST-2 Stable 30-Jun-24

2746 Well Accessories Ltd Corporate Surveillance A3 A3(Lr) ST-3 Stable 29-Jun-24

2747 Well Agro & Dairy Farm Corporate Surveillance BBB2 BBB2(Lr) ST-3 Stable 25-May-24

2748 Well Composite Knit Ltd. Corporate Surveillance BBB2 BBB2(Lr) ST-3,ST-5 Stable 25-Dec-24

2749 Well Designers Limited Corporate Surveillance BBB1 BBB1(Lr) ST-3 Stable 15-May-24

2750 Well Dresses Limited Corporate Surveillance BBB3 BBB3(Lr) ST-3 Stable 15-May-24

2751 Well Fabrics Corporate Surveillance BBB3 BBB3(Lr) ST-3 Stable 30-Jun-24

2752 Well Fashion Limited Corporate Surveillance BBB2 BBB2(Lr) ST-3 Stable 15-May-24

2753 Well Foods Ltd Corporate Surveillance A3 A3(Lr) ST-3 Stable 15-Sep-24

2754 Well Mart Ltd Corporate Surveillance BBB3 BBB3(Lr) ST-3 Stable 15-May-24

2755 Well Park Residence Corporate Initial Rating BBB3 BBB3(Lr) ST-3 Stable 17-Oct-24

2756 Well Trade Corporate Surveillance BBB3 BBB3(Lr) ST-3 Stable 15-May-24

2757 William Agency Corporate Surveillance BBB2 BBB2(Lr) ST-3 Stable 10-May-24

2758 Win East Paper Trading SME Surveillance CRAB-SE 2 - - - 30-Aug-24

2759 Windy Apparels Ltd Corporate Surveillance A2 A2(Lr) ST-3 Stable 21-Sep-24

2760 Windy Laundry Ltd. Corporate Initial Rating BBB1 BBB1(Lr) ST-3 Stable 30-Nov-24

2761 Windy Washing Ltd. Corporate Initial Rating BBB1 BBB1(Lr) ST-3 Stable 30-Oct-24

2762 Windy Wet & Dry Process Ltd Corporate Surveillance BBB1 BBB1(Lr) ST-3 Stable 21-Sep-24

2763 Wintag Enterprise SME Initial Rating CRAB-SE 3 - - - 30-May-24

2764 Winter Dress Ltd Corporate Surveillance A2 A2(Lr) ST-2 Stable 01-Feb-25

2765 Wohab Traders and Zahid Biz Vander SME Surveillance CRAB-SE 2 - - - 30-Jan-25

2766 Woodland Dwelling SME Initial CRAB-SE 3 - - - 16-Jan-25

2767 Wooree Apparels Ltd. Corporate Surveillance BBB2 BBB2(Lr) ST-3 Stable 18-Apr-24

2768 World Trade Centre SME Surveillance CRAB-SE 3 - - - 13-Feb-25

2769 X Ceramics Ltd. Corporate Surveillance A2 A2(Lr) ST-3 Stable 31-Dec-24

2770 Xclusive Can Ltd. Corporate Surveillance A2 A2(Lr) ST-3 Stable 10-Aug-24

2771 Xinaj Embroidery & Its Sister Concern (Xinaj Print Solution) SME Surveillance CRAB-SE 3 - - - 31-Oct-24

2772 YAGI Bangladesh Garments Ltd Corporate Surveillance BBB2 - ST-3 Stable 30-Sep-24

2773 Yathrib International and Its Sister Concern SME Initial Rating CRAB-SE 3 - - - 14-Nov-24

2774 Yeaser Trading & Import Export SME Initial Rating CRAB-SE 3 - - - 20-Sep-24

2775 Yippeekart Limited SME Initial CRAB-SE 3 - - - 16-Jan-25

2776 Young Fashion SME Surveillance CRAB-SE 3 - - - 30-Dec-24

2777 Younus Cold Storage Limited Corporate Surveillance A2 A2(Lr) ST-3 Stable 13-Jun-24

2778 Younus Fine Paper Mills Ltd Corporate Surveillance AA3 AA3(Lr) ST-2 Stable 31-Jan-25

2779 Younus News Print Mills Limited Corporate Surveillance A1 A1(Lr) ST-3 Stable 13-Jun-24

2780 Younus Offset Paper Mills Ltd Corporate Surveillance AA3 AA3(Lr) ST-2 Stable 31-Jan-25

2781 Younus Paper Mills Limited Corporate Surveillance A1 A1(Lr) ST-3 Stable 13-Jun-24

2782 Younus Specialized Cold Storage Limited Corporate Surveillance A2 A2(Lr) ST-3 Stable 13-Jun-24

2783 Younus Spinning Mills Ltd Corporate Surveillance A3 A3(Lr) ST-3 Stable 31-Jan-25

2784 Your Fashion Sweater Ltd. Corporate Surveillance A3 - ST-3 Stable 23-Sep-24

2785 Yousuf Traders SME Surveillance CRAB-SE 3 - - - 29-Jun-24

2786 Yousuf Traders (Panchagar) SME Initial Rating CRAB-SE 3 - - - 30-Dec-24

66
Lr-Loan rating, Pr-Project rating, SO-Structured Obligation,
 Rating Update - March 2024
(Update up to 31 March 2024)

Sl No. Name of Client/Company Company/ Rating Type Entity Loan Ratings Rating
(Alphabetical order) Rating Long Term Short Term* Outlook Validity**
Firm Type

2787 Yunus Metal Industries SME Surveillance CRAB-SE 3 - - - 23-Jun-24

2788 Z & Z Intimates Ltd. Corporate Surveillance BBB2 BBB2 (Lr) ST-3 Stable 30-Sep-24

2789 Z N Auto Rice Mill SME Surveillance CRAB-SE 3 - - - 31-May-24

2790 Z N Enterprise SME Surveillance CRAB-SE 3 - - - 20-Jul-24

2791 Z N Shipping Lines Ltd. SME Surveillance CRAB-SE 3 - - - 21-Nov-24

2792 Zaee Trims SME Surveillance CRAB-SE 3 - - - 28-Feb-25

2793 Zahir Steel & Re-rollong Mills Ltd. Corporate Surveillance A2 A2(Lr) ST-3 Stable 05-Nov-24

2794 Zahir Uddin Motsho Khamar SME Surveillance CRAB-SE 3 - - - 06-Nov-24

2795 Zahirul Islam SME Surveillance CRAB-SE 3 - - - 21-Aug-24

2796 Zaidis Brothers SME Initial Rating CRAB-SE 3 - - - 25-Jun-24

2797 Zakir & Sons SME Surveillance CRAB-SE 3 - - - 21-Aug-24

2798 Zam Zam Electric Hardware & Paint SME Surveillance CRAB-SE 3 - - - 21-Sep-24

2799 Zaman and Brothers SME Initial CRAB-SE 3 - - - 19-Mar-25

2800 Zaman Traders SME Initial Rating CRAB-SE 3 - - - 06-Jun-24

2801 Zaman Trading SME Initial Rating CRAB-SE 3 - - - 25-Dec-24

2802 Zara Zaman Technology SME Surveillance CRAB-ME 1 - - - 28-Feb-25

2803 Zareen Plantation Ltd. Corporate Surveillance A3 A3(Lr) ST-2 Stable 15-Dec-24

2804 Zas Concern Limited Corporate Surveillance BBB3 BBB3(Lr) ST-3 Stable 07-Jun-24

2805 Zee Fashions Ltd SME Surveillance CRAB-SE 3 - - - 30-Apr-24

2806 Zen International Ltd SME Surveillance CRAB-ME 2 - - - 04-Dec-24

2807 Zia Lighting & Pushpo Kendro SME Surveillance CRAB-SE 3 - - - 28-Sep-24

2808 Zihan Plastic Industries SME Surveillance CRAB-ME 2 - - - 05-Feb-25

2809 Ziska Pharmaceuticals Ltd Corporate Surveillance AA3 AA3(Lr) ST-3 Stable 30-Mar-25

2810 Zodiac Power Chittagong Ltd. Corporate Surveillance AA2 AA2(Lr) ST-2 Stable 30-Nov-24

2811 ZRB Distribution SME Surveillance CRAB-ME 2 - - - 26-Sep-24

2812 Zubair & Brothers SME Surveillance CRAB-SE 3 - - - 27-Sep-24

2813 Zubair Vision Electronics SME Surveillance CRAB-SE 3 - - - 14-Mar-25

2814 Priyam Garments Ltd. Corporate Surveillance A2 A2(Lr) ST-3 Stable 15-Apr-24

2815 Zakmars Fashion Ltd. Corporate Surveillance BBB2 BBB2(Lr) ST-3 Stable 15-Apr-24

2816 Petromax Cylinders Ltd. Corporate Surveillance BBB1 BBB1(Lr) ST-3 Stable 15-Apr-24

2817 Petromax LPG Ltd. Corporate Surveillance BBB1 BBB1(Lr) ST-3 Stable 30-Apr-24

2818 HNS Developers Ltd. Corporate Initial Rating BBB3 BBB3(Lr) ST-4 Stable 30-Apr-24

2819 Shangu Tex- 2 Limited Corporate Initial Rating A3 - ST-3 Stable 30-Apr-24

2820 Shangu Tex Limited Corporate Initial Rating BBB1 BBB1(Lr) ST-3 Stable 30-Apr-24

Lr-Loan rating, Pr-Project rating, SO-Structured Obligation, Dr-Debenture Rating

* Short Term loans include both funded and non-funded limits.

** Entity ratings are valid till mentioned date; Loan ratings are valid up to limit expiry date of respective credit facilities or till mentioned date, whichever is earlier.

*** Rating completed but unpublished, as client has not yet collected the report.

 For any clarification please contact:

 Nur Elahee Molla, VP & Chief Rating Officer
Cell: 01819 - 483510, E-mail: [email protected]

 Sanjay Kanti Das, Assistant Vice President, Compliance

Cell: 01712 - 887456, E-mail: [email protected]

67
Lr-Loan rating, Pr-Project rating, SO-Structured Obligation,
Sl No. Name of Bank/ Financial Institution Industry Rating Type Entity Ratings Validity
(Alphabetical order) Long Term Short Term Outlook

A3 ST-1 (Govt)
1 Bangladesh Development Bank Ltd Bank Initial Rating Stable 30-Jun-24
AAA(Govt.) ST-3
2 Bank Asia Ltd Bank Surveillance AA1 ST-1 Stable 30-Jun-24

3 BRAC Bank Limited Bank Surveillance AAA ST-1 Stable 30-Jun-24

4 Dutch Bangla Bank Ltd Bank Surveillance AAA ST-1 Stable 30-Jun-24

5 Eastern Bank Limited Bank Initial Rating AAA ST-1 Stable 30-Jun-24

6 HSBC Bangladesh Bank Surveillance AAA ST-1 Stable 30-Jun-24

7 Jamuna Bank Ltd Bank Surveillance AA1 ST-1 Stable 30-Jun-24

A1 ST-1 (Govt)
8 Janata Bank Limited Bank Initial Rating Stable 30-Jun-24
AAA(Govt.) ST-2
9 Modhumoti Bank Limited Bank Surveillance AA3 ST-2 Stable 30-Jun-24

10 National Bank of Pakistan Ltd Bangladesh Bank Surveillance BBB1 ST-3 Stable 30-Jun-24

11 The City Bank Ltd Bank Surveillance AA1 ST-1 Stable 30-Jun-24

12 Trust Bank Limited Bank Surveillance AA1 ST-1 Stable 30-Jun-24

13 AB Bank Bond- 3 (BDT 4,000 million) Bond Surveillance A3(Hyb) - Stable 30-Jun-24

14 AB Bank Bond- 4 (BDT 5,000 million) Bond Surveillance A3(Hyb) - Stable 30-Jun-24

15 Bank Asia Subordinated Bond II (BDT 5000 million) Bond Surveillance AA2(Hyb) - Stable 22-May-24

16 Bank Asia Subordinated Bond III (BDT 5000 million) Bond Surveillance AA2(Hyb) - Stable 22-May-24

17 BRAC Bank Affordable Housing Bond Bond Surveillance AAA - Stable 31-May-24

18 BRAC Bank Subordinated Coupon Bearing Bond Bond Initial Rating AA1(Hyb) - Stable 13-Jun-24

19 Dutch Bangla Bank Ltd. 2nd Subordinated Bond of 5000.0 million Bond Surveillance AA1(Hyb) - Stable 30-May-24

20 Dutch Bangla Bank Ltd. Subordinated Bond IV Bond Surveillance AA1(Hyb) - Stable 16-Feb-24

21 Eastern Bank Limited - 2nd Subordinated Bond Bond Surveillance AA1(Hyb) - Stable 31-May-24

22 IFIC Bank Ltd Subordinated Bond II (BDT 5000 million) Bond Surveillance AA3(Hyb) - Stable 30-May-24

23 IFIC Bank Ltd Subordinated Bond III BDT 5000 Million Bond Surveillance AA3(Hyb) - Stable 30-Mar-24

24 IFIC Bank Ltd Suubordinated Bond IV (Upto BDT 5000 mill) Bond Initial Rating AA3(Hyb) - Stable 30-Jun-24

25 Jamuna Bank Limited (Perpetual Bond) Bond Surveillance AA3(Hyb) - Stable 30-May-24

26 Jamuna Bank Ltd Subordinated Bond III Bond Surveillance AA2(Hyb) - Stable 21-May-24

27 Jamuna Bank PLC subordinated bond V of BDT 2500 million Bond Initial Rating AA2(Hyb) - Stable 30-Jul-24

28 Meghna Bank Ltd Subordinated Bond BDT 2000 million Bond Surveillance A2(Hyb) - Stable 30-May-24

29 Shahjalal Islami Bank Subordinated Bond 1 Bond Surveillance AA3(Hyb) - Stable 30-May-24

30 Shahjalal Islami Bank Subordinated Bond 2 Bond Surveillance AA3(Hyb) - Stable 30-May-24

31 The City Bank Ltd Perpetual Bond BDT 400 Crore Bond Surveillance AA3(Hyb) - Stable 30-May-24

32 The City Bank Ltd Subordinated Bond -II (BDT 5000 million) Bond Surveillance AA2(Hyb) - Stable 30-May-24

33 United Commercial Bank Ltd (1st Perpetual Bond of BDT 400.00 Crore) Bond Surveillance A1(Hyb) - Stable 30-Nov-24

34 Infrastructure Development Company Ltd (IDCOL) Financial Institution Surveillance AA1 ST-1 Stable 30-Jun-24

35 IPDC Finance Limited Financial Institution Surveillance AA1 ST-1 Stable 30-Jun-24

36 LankaBangla Finance Limited Financial Institution Surveillance AA3 ST-2 Stable 30-Jun-24

37 LankaBangla Finance Ltd of Non-Convertible Zero Coupon Bond Financial Institution Surveillance AA3 - Stable 20-Jun-24

38 LankaBangla Finance Ltd Zero Coupon Bond (Up to BDT 2000 million) Financial Institution Initial Rating AA3 - Stable 30-Jun-24

39 LankaBangla Finance Ltd Subordinated Tier II Bond (BDT 3000 million) Financial Institution Initial Rating A1(Hyb) - Stable 20-Jun-24

Hyb-Hybrid
1 City Bank Capital Resources Limited Merchant Bank Surveillance A1 ST-3 Stable 30-Jun-24

2 LankaBangla Securities Limited Securities Firm Surveillance AA2 - Stable 30-Jun-24

3 MTB Securities Limited Securities Firm Surveillance A3 - Stable 30-Jun-24

4 Quayum Securities Ltd. Securities Firm Surveillance BBB2 - Stable 31-Dec-24

5 Sonali Securities Ltd. Securities Firm Surveillance BBB2 - Stable 31-Dec-24

68
 Rating Update - March 2024
(Updated up to 31 March 2024)

Sl No. Name of Insurance Industry Rating Type Entity Ratings Validity

(Alphabetical order) Long Term Short Term Outlook

1 American Life Insurance Company (MetLife Bangladesh) Insurance Surveillance AAA - Stable 30-Jun-24

2 Crystal Insurance Company Ltd Insurance Surveillance AA2 ST-2 Stable 30-Jun-24

3 Green Delta Insurance Co. Ltd Insurance Surveillance AAA ST-1 Stable 30-Jun-24

4 Guardian Life Insurance Ltd. Insurance Surveillance AA3 - Stable 30-Jun-24

5 Meghna Life Insurance Company Limited Insurance Surveillance AA3 - Stable 30-Jun-24

6 National Life Insurance Company Ltd. Insurance Surveillance AAA - Stable 30-Jun-24

7 Rupali Life Insurance Company Ltd Insurance Surveillance A2 - Stable 30-Sep-24

8 Sandhani Life Insurance Company Limited Insurance Surveillance AA2 - Stable 30-Jun-24

Industry Type of
Sl No. Name of Micro Finance Institution Entity Ratings Validity
Name Rating
(Alphabetical order) Long Term Short Term Outlook
1 Agragati Seba Sangstha MFI Surveillance BBB3 ST-3 Stable 01-Mar-25

2 Ambala Foundation MFI Initial A1 ST-3 Stable 05-Mar-25

3 Anannyo Samaj Kallayan Sangostha MFI Surveillance BB1 ST-5 Stable 31-Dec-24

4 Banaful Social Welfare Organization MFI Surveillance A3 ST-3 Stable 31-Dec-24

5 Bangladesh Extension Education Services (BEES) MFI Initial Rating AA2 ST-2 Stable 25-Oct-24

6 BRAC MFI Surveillance AAA ST-1 Stable 30-Dec-24

7 Buro Bangladesh MFI Surveillance AA1 ST-1 Stable 30-Dec-24

8 CDIP Zero Coupon Bond MFI Initial Rating AA2 - Stable 30-Nov-24

9 Center For Development Innovation and Practices (CDIP) MFI Surveillance AA2 ST-2 Stable 30-Dec-24

10 Dak Diye Jai MFI Initial Rating A3 ST 3 Stable 26-Jul-24

11 DESHA Shechsashebi Artho Samajik Unnyan O Manobik Kallyan Sangstha MFI Surveillance A2 ST-3 Stable 30-Dec-24

12 Dusthya Shahsthya Kendra MFI Surveillance AA3 ST-2 Stable 30-Dec-24

13 Jagorani Chakra Foundation MFI Surveillance AA2 ST-2 Stable 30-Dec-24

14 Manab Seba Ovijan (MSO) MFI Initial Rating BBB2 ST-3 Stable 25-Jun-24

15 Namuja Orthonoitk Unnayan Sangstha MFI Surveillance BBB3 ST-3 Stable 30-Dec-24

16 Peoples Credit Co-operative Ltd. MFI Surveillance BBB1 ST-1 Stable 30-Dec-24

17 Polly Sheba Shangstha MFI Initial Rating BBB3 ST-3 Stable 14-Nov-24

18 Programme for Community Development (PCD) MFI Surveillance A3 ST-3 Stable 30-Dec-24

19 Rural Health Education & Credit Organaization (RHECO) MFI Surveillance BBB1 ST-3 Stable 31-Dec-24

20 Samaj Unnayan Kendra MFI Surveillance BBB1 ST-3 Stable 31-Dec-24

21 Samajik Sheba Shonggothon MFI Surveillance A3 ST-3 Stable 31-Dec-24

22 SETU MFI Surveillance A3 ST-3 Stable 30-Dec-24

23 Shataphool Bangladesh MFI Surveillance BBB3 ST-3 Stable 31-Dec-24

24 Society for Development Initiative (SDI) MFI Surveillance A1 ST-3 Stable 30-Dec-24
25 Society for Family Happiness and Prosperity MFI Surveillance A2 ST-2 Stable 30-Dec-24

26 Society for Social Service (SSS) MFI Surveillance AA2 ST-2 Stable 31-Dec-24

27 Socio Economic Health Education Organization (SEHEO) MFI Surveillance AA3 ST-2 Stable 30-Nov-24

28 Srizony Foundation MFI Surveillance BBB2 ST-4 Stable 30-Jan-25

29 TMSS MFI Surveillance AA2 ST-2 Stable 31-Dec-24

30 TMSS Zero coupon Bond BDT 1,224 million MFI Surveillance AA2 - Stable 26-Sep-24

31 UDDIPON ZCB (BDT 1,868.40 Mill) MFI Initial Rating AA2 - Stable 11-Oct-24

32 United Development Initiatives for Programmed Actions(UDDIPON) MFI Surveillance AA2 ST-2 Stable 28-Dec-24

33 UTTARAN MFI Surveillance A2 ST-2 Stable 30-Dec-24

34 WAVE Foundation MFI Surveillance A1 ST-2 Stable 30-Dec-24

35 Zero coupon Bond of Buro Bangladesh MFI Surveillance AA1 - Stable 30-Nov-24

 For any clarification please contact:

 Nur Elahee Molla, VP & Chief Rating Officer
Cell: Cell: 01819 483510, E-mail: [email protected]
 Sanjay Kanti Das, Compliance Officer
Cell: 01712-887456, E-mail: [email protected]

69
 CRAB Rating Scales and Definitions

Appendix 01: CRAB Rating Scales and Definitions – Corporate (Entity)

LONG TERM CREDIT RATING: CORPORATE (ENTITY)

Long Term Rating Definition

AAA
(Triple A) Companies rated in this category have extremely strong capacity to meet financial
Extremely Strong commitments. These companies are judged to be of the highest quality, with minimal
Capacity & Minimal credit risk.
Credit Risk
AA1, AA2, AA3*
Companies rated in this category have very strong capacity to meet financial
(Double A)
commitments. These companies are judged to be of very high quality, subject to very
Very Strong Capacity &
low credit risk.
Very Low Credit Risk
A1, A2, A3
Companies rated in this category have strong capacity to meet financial commitments,
(Single A)
but are susceptible to the adverse effects of changes in circumstances and economic
Strong Capacity & Low
conditions. These companies are judged to be of high quality, subject to low credit risk.
Credit Risk
BBB1, BBB2, BBB3 Companies rated in this category have adequate capacity to meet financial
(Triple B) commitments but more susceptible to adverse economic conditions or changing
Adequate Capacity & circumstances. These companies are subject to moderate credit risk. Such companies
Moderate Credit Risk possess certain speculative characteristics.
BB1, BB2, BB3 Companies rated in this category have inadequate capacity to meet financial
(Double B) commitments. Have major ongoing uncertainties and exposure to adverse business,
Inadequate Capacity & financial, or economic conditions. These companies have speculative elements, subject
Substantial Credit Risk to substantial credit risk.
B1, B2, B3
(Single B) Companies rated in this category have weak capacity to meet financial commitments.
Weak Capacity & High These companies have speculative elements, subject to high credit risk.
Credit Risk
CCC1, CCC2, CCC3
(Triple C) Companies rated in this category have very weak capacity to meet financial obligations.
Very Weak Capacity & These companies have very weak standing and are subject to very high credit risk.
Very High Credit Risk
CC
(Double C) Companies rated in this category have extremely weak capacity to meet financial
Extremely Weak obligations. These companies are highly speculative and are likely in, or very near,
Capacity & Extremely default, with some prospect of recovery of principal and interest.
High Credit Risk
Companies rated in this category are highly vulnerable to non-payment, have payment
C arrearages allowed by the terms of the documents, or subject of bankruptcy petition,
(Single C) but have not experienced a payment default. Payments may have been suspended in
Near to Default accordance with the instrument's terms. These companies are typically in default, with
little prospect for recovery of principal or interest.

D D rating will also be used upon the filing of a bankruptcy petition or similar action if
Default payments on an obligation are jeopardized.

* Note: CRAB appends numerical modifiers 1, 2, and 3 to each generic rating classification from AA through CCC. The
modifier 1 indicates that the obligation ranks in the higher end of its generic rating category; the modifier 2 indicates
a mid-range ranking; and the modifier 3 indicates a ranking in the lower end of that generic rating category.

70
 CRAB Rating Scales and Definitions

Appendix 02: CRAB Rating Scales and Definitions –Corporate (Long Term Loan)

LONG TERM CREDIT RATING: LOANS/FACILITIES FROM BANK/FI

(All loans/facilities with original maturity exceeding one year)

Long Term Ratings Definition

AAA (Lr) Loans/facilities rated AAA (Lr) are judged to offer the highest degree of safety, with
(Triple A) regard to timely payment of financial obligations. Any adverse changes in circumstances
Highest Safety are unlikely to affect the payments on the loan facility.
AA (Lr)* Loans/facilities rated AA (Lr) are judged to offer a high degree of safety, with regard to
(Double A) timely payment of financial obligations. They differ only marginally in safety from AAA
High Safety (Lr) rated facilities.
A (Lr) Loan/facilities rated A (Lr) are judged to offer an adequate degree of safety, with regard
(Single A) to timely payment of financial obligations. However, changes in circumstances can
Adequate Safety adversely affect such issues more than those in the higher rating categories.
Loans/facilities rated BBB (Lr) are judged to offer moderate safety, with regard to timely
BBB (Lr)
payment of financial obligations for the present; however, changing circumstances are
(Triple B)
more likely to lead to a weakened capacity to pay interest and repay principal than for
Moderate Safety
issues in higher rating categories.
Loans/facilities rated BB (Lr) are judged to carry inadequate safety, with regard to timely
BB (Lr)
payment of financial obligations; they are less likely to default in the immediate future
(Double B)
than instruments in lower rating categories, but an adverse change in circumstances
Inadequate Safety
could lead to inadequate capacity to make payment on financial obligations.
B (Lr) Loans/facilities rated B (Lr) are judged to have high risk of default; while currently
(Single B) financial obligations are met, adverse business or economic conditions would lead to
High Risk lack of ability or willingness to pay interest or principal.
CCC (Lr) Loans/facilities rated CCC (Lr) are judged to have factors present that make them very
(Triple C) highly vulnerable to default; timely payment of financial obligations is possible only if
Very High Risk favorable circumstances continue.
CC (Lr)
Loans/facilities rated CC (Lr) are judged to be extremely vulnerable to default; timely
(Double C)
payment of financial obligations is possible only through external support.
Extremely High Risk
Loans/facilities rated C (Lr) are currently highly vulnerable to non-payment, having
obligations with payment arrearages allowed by the terms of the documents, or
C (Lr)
obligations that are subject of a bankruptcy petition or similar action but have not
(Single C)
experienced a payment default. C is typically in default, with little prospect for recovery
Near to Default
of principal or interest. C (Lr) are typically in default, with little prospect for recovery of
principal or interest.
D (Lr) Loans/facilities rated D (Lr) are in default or are expected to default on scheduled
Default payment dates.
* Note: CRAB appends numerical modifiers 1, 2, and 3 to each generic rating classification from AA through CCC.
The modifier 1 indicates that the obligation ranks in the higher end of its generic rating category; the modifier 2
indicates a mid-range ranking; and the modifier 3 indicates a ranking in the lower end of that generic rating category.

71
 CRAB Rating Scales and Definitions

Appendix 03 : CRAB Rating Scales and Definitions –Corporate (Short Term Loan)

SHORT TERM CREDIT RATING: LOANS/FACILITIES OF BANK/FI

(All loans/facilities with original maturity within one year)

Short Term Ratings Definition

ST-1 This rating indicates that the degree of safety regarding timely payment on the
Highest Grade loans/facilities is very strong.
This rating indicates that the degree of safety regarding timely payment on the
ST-2
loans/facilities is strong; however, the relative degree of safety is lower than that for issues
High Grade
rated higher.
This rating indicates that the degree of safety regarding timely payment on the
ST-3
loans/facilities is adequate; however, the issues are more vulnerable to the adverse effects
Adequate Grade
of changing circumstances than issues rated in the two higher categories.
This rating indicates that the degree of safety regarding timely payment on the
ST-4
loans/facilities is marginal; and the issues are quite vulnerable to the adverse effects of
Marginal
changing circumstances.
This rating indicates that the degree of safety regarding timely payment on the
ST-5
loans/facilities is minimal, and it is likely to be adversely affected by short-term adversity
Inadequate Grade
or less favorable conditions.
ST-6 This rating indicates that the loans/facilities are expected to be in default on maturity or is
Lowest Grade in default.

© Copyright 2024, CREDIT RATING AGENCY OF BANGLADESH LIMITED ("CRAB"). All rights reserved. ALL INFORMATION
CONTAINED HEREIN IS PROTECTED BY COPYRIGHT LAW AND NONE OF SUCH INFORMATION MAY BE COPIED OR
OTHERWISE REPRODUCED, REPACKAGED, FURTHER TRANSMITTED, TRANSFERRED, DISSEMINATED, REDISTRIBUTED OR
RESOLD, OR STORED FOR SUBSEQUENT USE FOR ANY SUCH PURPOSE, IN WHOLE OR IN PART, IN ANY FORM OR MANNER
OR BY ANY MEANS WHATSOEVER, BY ANY PERSON WITHOUT CRAB’S PRIOR WRITTEN CONSENT. All information
contained herein is obtained by CRAB from sources believed by it to be accurate and reliable. Because of the possibility
of human or mechanical error as well as other factors, however, such information is provided “as is” without warranty
of any kind and CRAB, in particular, makes no representation or warranty, express or implied, as to the accuracy,
timeliness, completeness, merchantability or fitness for any particular purpose of any such information. Under no
circumstances shall CRAB have any liability to any person or entity for (a) any loss or damage in whole or in part caused
by, resulting from, or relating to, any error (negligent or otherwise) or other circumstance or contingency within or
outside the control of CRAB or any of its directors, officers, employees or agents in connection with the procurement,
collection, compilation, analysis, interpretation, communication, publication or delivery of any such information, or (b)
any direct, indirect, special, consequential, compensatory or incidental damages whatsoever (including without
limitation, lost profits), even if CRAB is advised in advance of the possibility of such damages, resulting from the use
of or inability to use, any such information. The credit ratings and financial reporting analysis observations, if any,
constituting part of the information contained herein are, and must be construed solely as, statements of opinion and
not statements of fact or recommendations to purchase, sell or hold any securities. NO WARRANTY, EXPRESS OR
IMPLIED, AS TO THE ACCURACY, TIMELINESS, COMPLETENESS, MERCHANTABILITY OR FITNESS FOR ANY PARTICULAR
PURPOSE OF ANY SUCH RATING OR OTHER OPINION OR INFORMATION IS GIVEN OR MADE BY CRAB IN ANY FORM OR
MANNER WHATSOEVER. Each rating or other opinion must be weighed solely as one factor in any investment decision
made by or on behalf of any user of the information contained herein, and each such user must accordingly make its
own study and evaluation of each security and of each issuer and guarantor of, and each provider of credit support
for, each security that it may consider purchasing, holding or selling.

72
 CRAB Rating Scales and Definitions

Appendix 04 : CRAB Rating Scales and Definitions –Banks (Long Term)

LONG TERM CREDIT RATING: BANK

Long Term Ratings Definition
AAA Commercial Banks rated 'AAA' have extremely strong capacity to meet their financial
(Triple A) commitments. 'AAA' is the highest issuer credit rating assigned by CRAB. AAA is judged
Extremely Strong to be of the highest quality, with minimal credit risk.
Capacity & Highest
Quality
AA1, AA2, AA3*
Commercial Banks rated 'AA' have very strong capacity to meet their financial
Double A
commitments. They differ from the highest-rated Commercial Banks only to a small
Very Strong Capacity
degree. AA is judged to be of very high quality and is subject to very low credit risk.
& Very High Quality
A1, A2, A3 Commercial Banks rated 'A' have strong capacity to meet their financial commitments
(Single A) but are somewhat more susceptible to the adverse effects of changes in circumstances
(Strong Capacity & and economic conditions than Commercial Banks in higher-rated categories. A is judged
High Quality) to be of high quality and are subject to low credit risk.

BBB1, BBB2, BBB3 Commercial Banks rated 'BBB' have adequate capacity to meet their financial
(Triple B) commitments. However, adverse economic conditions or changing circumstances are
Adequate Capacity & more likely to lead to a weakened capacity of the Commercial Banks to meet their
Medium Quality financial commitments. BBB is subject to moderate credit risk.

BB1, BB2, BB3 Commercial Banks rated 'BB' are less vulnerable in the near term than other lower-rated
(Double B) Commercial Banks. However, they faces major ongoing uncertainties and exposure to
Inadequate Capacity adverse business, financial, or economic conditions, which may lead to the Commercial
& Substantial Credit Bank’s inadequate capacity to meet their financial commitments. BB is judged to have
Risk speculative elements and is subject to substantial credit risk.

Commercial Banks rated 'B' are more vulnerable than the Commercial Banks rated 'BB',
B1, B2, B3
but the Commercial Banks currently have the capacity to meet their financial
(Single B)
commitments. Adverse business, financial, or economic conditions are likely to impair
Weak Capacity &
the Banks’ capacity or willingness to meet their financial commitments. B is considered
High Credit Risk
speculative and weak capacity and is subject to high credit risk.
CCC1, CCC2, CCC3
Commercial Banks rated 'CCC' are currently vulnerable, and are dependent on favorable
(Triple C)
business, financial, and economic conditions to meet their financial commitments. CCC
Very Weak Capacity &
is judged to be of very weak standing and is subject to very high credit risk.
Very High Credit Risk
CC
(Double C) Commercial Banks rated 'CC' are currently highly vulnerable. CC is highly speculative
Extremely Weak and is likely in, or very near, default, with some prospect of recovery of principal and
Capacity & Extremely interest.
High Credit Risk
A 'C' rating is assigned to Banks that are currently highly vulnerable to non-payment of
C
obligations, or in the verge of default or faced with insolvency petition or bankruptcy
(Single C)
petition or similar actions, but have not yet experienced a payment default with external
Near to Default
support.

D 'D' is in default. The 'D' rating also will be used upon the filing of a bankruptcy petition
Default or the taking of a similar action if payments on an obligation are jeopardized.

*Note: CRAB appends numerical modifiers 1, 2, and 3 to each generic rating classification from AA through CCC. The
modifier 1 indicates that the obligation ranks in the higher end of its generic rating category; the modifier 2 indicates
a mid-range ranking; and the modifier 3 indicates a ranking in the lower end of that generic rating category.

73
 CRAB Rating Scales and Definitions

Appendix 05: CRAB Rating Scales and Definitions –Banks (Short Term)

SHORT TERM CREDIT RATING: BANK

Short Term Ratings Definition
Commercial Banks rated in this category are considered to have the highest capacity for
ST-1 timely repayment of obligations. Commercial Banks rated in this category are characterised
Highest Grade with excellent position in terms of liquidity, internal fund generation, and access to
alternative sources of funds.
Commercial Banks rated in this category are considered to have strong capacity for timely
ST-2 repayment. Commercial Banks rated in this category are characterised with commendable
High Grade position in terms of liquidity, internal fund generation, and access to alternative sources
of funds.
Commercial Banks rated in this category are considered to average capacity for timely
ST-3 repayment of obligations, although such capacity may impair by adverse changes in
business, economic, or financial conditions. Commercial Banks rated in this category are
Average Grade characterised with satisfactory level of liquidity, internal fund generation, and access to
alternative sources of funds.
Commercial Banks rated in this category are considered to have below average capacity for
ST-4 timely repayment of obligations. Such capacity is highly susceptible to adverse changes in
Below Average business, economic, or financial conditions than for obligations in higher categories.
Grade Commercial Banks rated in this category are characterised with average liquidity, internal
fund generation, and access to alternative sources of funds.
Commercial Banks rated in this category are considered to have inadequate capacity for
ST-5 timely repayment of obligations susceptible to adverse changes in business, economic, or
financial conditions. Commercial Banks rated in this category are characterised with risky
Inadequate Grade position in terms of liquidity, internal fund generation, and access to alternative sources
of funds.
Commercial Banks rated in this category are considered to have obligations which have a
ST-6 high risk of default or which are currently in default. Commercial Banks rated in this
Lowest Grade category are characterised with risky position in terms of liquidity, internal fund
generation, and access to alternative sources of funds.

© Copyright 2024, CREDIT RATING AGENCY OF BANGLADESH LIMITED ("CRAB"). All rights reserved. ALL INFORMATION
CONTAINED HEREIN IS PROTECTED BY COPYRIGHT LAW AND NONE OF SUCH INFORMATION MAY BE COPIED OR OTHERWISE
REPRODUCED, REPACKAGED, FURTHER TRANSMITTED, TRANSFERRED, DISSEMINATED, REDISTRIBUTED OR RESOLD, OR STORED
FOR SUBSEQUENT USE FOR ANY SUCH PURPOSE, IN WHOLE OR IN PART, IN ANY FORM OR MANNER OR BY ANY MEANS
WHATSOEVER, BY ANY PERSON WITHOUT CRAB’S PRIOR WRITTEN CONSENT. All information contained herein is obtained by
CRAB from sources believed by it to be accurate and reliable. Because of the possibility of human or mechanical error as well
as other factors, however, such information is provided “as is” without warranty of any kind and CRAB, in particular, makes no
representation or warranty, express or implied, as to the accuracy, timeliness, completeness, merchantability or fitness for any
particular purpose of any such information. Under no circumstances shall CRAB have any liability to any person or entity for
(a) any loss or damage in whole or in part caused by, resulting from, or relating to, any error (negligent or otherwise) or other
circumstance or contingency within or outside the control of CRAB or any of its directors, officers, employees or agents in
connection with the procurement, collection, compilation, analysis, interpretation, communication, publication or delivery of
any such information, or (b) any direct, indirect, special, consequential, compensatory or incidental damages whatsoever
(including without limitation, lost profits), even if CRAB is advised in advance of the possibility of such damages, resulting from
the use of or inability to use, any such information. The credit ratings and financial reporting analysis observations, if any,
constituting part of the information contained herein are, and must be construed solely as, statements of opinion and not
statements of fact or recommendations to purchase, sell or hold any securities. NO WARRANTY, EXPRESS OR IMPLIED, AS TO
THE ACCURACY, TIMELINESS, COMPLETENESS, MERCHANTABILITY OR FITNESS FOR ANY PARTICULAR PURPOSE OF ANY SUCH
RATING OR OTHER OPINION OR INFORMATION IS GIVEN OR MADE BY CRAB IN ANY FORM OR MANNER WHATSOEVER. Each
rating or other opinion must be weighed solely as one factor in any investment decision made by or on behalf of any user of
the information contained herein, and each such user must accordingly make its own study and evaluation of each security
and of each issuer and guarantor of, and each provider of credit support for, each security that it may consider purchasing,
holding or selling.

74
 CRAB Rating Scales and Definitions

Appendix 06: CRAB Rating Scales and Definitions –Financial Institutions (Long Term)

LONG TERM CREDIT RATING: FINANCIAL INSTITUTIONS

Long Term Ratings Definition

AAA Financial Institutions rated 'AAA' have extremely strong capacity to meet their financial
(Triple A) commitments. 'AAA' is the highest issuer credit rating assigned by CRAB. AAA is judged
Extremely Strong to be of the highest quality, with minimal credit risk.
Capacity & Highest
Quality
AA1, AA2, AA3*
Financial Institutions rated 'AA' have very strong capacity to meet their financial
(Double A)
commitments. They differ from the highest-rated Financial Institutions only to a small
Very Strong Capacity
degree. AA is judged to be of very high quality and is subject to very low credit risk.
& Very High Quality
A1, A2, A3 Financial Institutions rated 'A' have strong capacity to meet their financial commitments
(Single A) but are somewhat more susceptible to the adverse effects of changes in circumstances
Strong Capacity & and economic conditions than Financial Institutions in higher-rated categories. A is
High Quality judged to be of high quality and are subject to low credit risk.
Financial Institutions rated 'BBB' have adequate capacity to meet their financial
BBB1, BBB2, BBB3
commitments. However, adverse economic conditions or changing circumstances are
(Triple B)
more likely to lead to a weakened capacity of the Financial Institutions to meet their
Adequate Capacity &
financial commitments. BBB rated FIs are subject to moderate credit risk. They are
Medium Quality
considered medium-grade and as such may possess certain speculative characteristics.
BB1, BB2, BB3 Financial Institutions rated 'BB' are less vulnerable in the near term than other lower-
(Double B) rated Financial Institutions. However, they face major ongoing uncertainties and
Inadequate Capacity exposure to adverse business, financial, or economic conditions, which might lead to
& Substantial Credit inadequate capacity to meet their financial commitments. BB is judged to have
Risk speculative elements and is subject to substantial credit risk.
Financial Institutions rated 'B' are more vulnerable than the Financial Institutions rated
B1, B2, B3
'BB', but the Financial Institutions currently have the capacity to meet their financial
(Single B)
commitments. Adverse business, financial, or economic conditions are likely to impair
Weak Capacity & High
the capacity or willingness to meet their financial commitments. B is considered
Credit Risk
speculative and weak capacity and is subject to high credit risk.
CCC1, CCC2, CCC3 Financial Institutions rated 'CCC' are currently vulnerable, and are dependent upon
(Triple C) favourable business, financial, and economic conditions to meet their financial
Very Weak Capacity & commitments. CCC is judged to be of very weak standing and is subject to very high
Very High Credit Risk credit risk.
CC
(Double C) Financial Institutions rated 'CC' are currently highly vulnerable. CC is highly speculative
Extremely Weak and is likely in, or very near, default, with some prospect of recovery of principal and
Capacity & Extremely interest.
High Credit Risk
A 'C' rating is assigned to Financial Institutions that are currently highly vulnerable to
C non-payment, having obligations with payment arrearages allowed by the terms of the
(Single C) documents, or obligations that are subject of a bankruptcy petition or similar action but
Near to Default have not experienced a payment default. C is typically in default, with little prospect for
recovery of principal or interest.
D 'D' is in default. The 'D' rating also will be used upon the filing of a bankruptcy petition
Default or the taking of a similar action if payments on an obligation are jeopardized.
* Note: CRAB appends numerical modifiers 1, 2, and 3 to each generic rating classification from AA through CCC.
The modifier 1 indicates that the obligation ranks in the higher end of its generic rating category; the modifier 2
indicates a mid-range ranking; and the modifier 3 indicates a ranking in the lower end of that generic rating category.

75
 CRAB Rating Scales and Definitions

Appendix 07: CRAB Rating Scales and Definitions –Financial Institutions (Short Term)

SHORT TERM CREDIT RATING: FINANCIAL INSTITUTIONS

Short Term Ratings Definition
Financial Institutions rated in this category are considered to have the highest capacity
ST-1
for timely repayment of obligations. Financial Institutions rated in this category are
Highest Grade characterised with excellent position in terms of liquidity, internal fund generation, and
access to alternative sources of funds.
Financial Institutions rated in this category are considered to have strong capacity for
ST-2 timely repayment. Financial Institutions rated in this category are characterised with
High Grade commendable position in terms of liquidity, internal fund generation, and access to
alternative sources of funds.
Financial Institutions rated in this category are considered to average capacity for timely
ST-3 repayment of obligations, although such capacity may impair by adverse changes in
business, economic, or financial conditions. Financial Institutions rated in this category
Average Grade are characterised with satisfactory level of liquidity, internal fund generation, and access
to alternative sources of funds.
Financial Institutions rated in this category are considered to have below average
ST-4 capacity for timely repayment of obligations. Such capacity is highly susceptible to
adverse changes in business, economic, or financial conditions than for obligations in
Below Average Grade higher categories. Financial Institutions rated in this category are characterised with
average liquidity, internal fund generation, and access to alternative sources of funds.
Financial Institutions rated in this category are considered to have inadequate capacity
ST-5 for timely repayment of obligations susceptible to adverse changes in business,
economic, or financial conditions. Financial Institutions rated in this category are
Inadequate Grade characterised with risky position in terms of liquidity, internal fund generation, and
access to alternative sources of funds.
Financial Institutions rated in this category are considered to have obligations which
ST-6 have a high risk of default or which are currently in default. Financial Institutions rated
Lowest Grade in this category are characterised with risky position in terms of liquidity, internal fund
generation, and access to alternative sources of funds.

© Copyright 2024, CREDIT RATING AGENCY OF BANGLADESH LIMITED ("CRAB"). All rights reserved. ALL INFORMATION
CONTAINED HEREIN IS PROTECTED BY COPYRIGHT LAW AND NONE OF SUCH INFORMATION MAY BE COPIED OR OTHERWISE
REPRODUCED, REPACKAGED, FURTHER TRANSMITTED, TRANSFERRED, DISSEMINATED, REDISTRIBUTED OR RESOLD, OR STORED
FOR SUBSEQUENT USE FOR ANY SUCH PURPOSE, IN WHOLE OR IN PART, IN ANY FORM OR MANNER OR BY ANY MEANS
WHATSOEVER, BY ANY PERSON WITHOUT CRAB’S PRIOR WRITTEN CONSENT. All information contained herein is obtained by
CRAB from sources believed by it to be accurate and reliable. Because of the possibility of human or mechanical error as well
as other factors, however, such information is provided “as is” without warranty of any kind and CRAB, in particular, makes no
representation or warranty, express or implied, as to the accuracy, timeliness, completeness, merchantability or fitness for any
particular purpose of any such information. Under no circumstances shall CRAB have any liability to any person or entity for
(a) any loss or damage in whole or in part caused by, resulting from, or relating to, any error (negligent or otherwise) or other
circumstance or contingency within or outside the control of CRAB or any of its directors, officers, employees or agents in
connection with the procurement, collection, compilation, analysis, interpretation, communication, publication or delivery of
any such information, or (b) any direct, indirect, special, consequential, compensatory or incidental damages whatsoever
(including without limitation, lost profits), even if CRAB is advised in advance of the possibility of such damages, resulting from
the use of or inability to use, any such information. The credit ratings and financial reporting analysis observations, if any,
constituting part of the information contained herein are, and must be construed solely as, statements of opinion and not
statements of fact or recommendations to purchase, sell or hold any securities. NO WARRANTY, EXPRESS OR IMPLIED, AS TO
THE ACCURACY, TIMELINESS, COMPLETENESS, MERCHANTABILITY OR FITNESS FOR ANY PARTICULAR PURPOSE OF ANY SUCH
RATING OR OTHER OPINION OR INFORMATION IS GIVEN OR MADE BY CRAB IN ANY FORM OR MANNER WHATSOEVER. Each
rating or other opinion must be weighed solely as one factor in any investment decision made by or on behalf of any user of
the information contained herein, and each such user must accordingly make its own study and evaluation of each security
and of each issuer and guarantor of, and each provider of credit support for, each security that it may consider purchasing,
holding or selling.

76
 CRAB Rating Scales and Definitions

Appendix 08: CRAB Rating Scales and Definitions –Insurance (Long Term)

LONG TERM CREDIT RATING: INSURANCE

Long Term Ratings Definition

AAA
(Triple A) Insurance Companies rated ‘AAA’ have EXTREMELY STRONG financial security
Extremely Strong characteristics. ‘AAA’ is the highest Insurer Financial Strength Rating assigned by CRAB.
Financial Security
AA1, AA2, AA3*
(Double A) Insurance Companies rated ‘AA’ has VERY STRONG financial security characteristics,
Very Strong Financial differing only slightly from those rated higher.
Security
A1, A2, A3
Insurance Companies rated ‘A’ have STRONG financial security characteristics, but are
(Single A)
somewhat more likely to be affected by adverse business conditions than Insurers with
Strong Financial
higher ratings.
Security
BBB1, BBB2, BBB3
(Triple B) Insurance Companies rated ‘BBB’ have GOOD financial security characteristics, but are
Good Financial more likely to be affected by adverse business conditions than higher rated insurers.
Security
BB1, BB2, BB3
Insurance Companies rated ‘BB’ have MARGINAL financial security characteristics.
(Double B)
Positive attributes exist, but adverse business conditions could lead to insufficient
Marginal Financial
ability to meet financial commitments.
Security
B1, B2, B3
(Single B) Insurance Companies rated ‘B’ have WEAK financial security characteristics. Adverse
Weak Financial business conditions are likely to impair their ability to meet financial commitments.
Security
CCC1, CCC2, CCC3
(Triple C) Insurance Companies rated ‘CCC’ have VERY WEAK financial security characteristics, and
Very Weak Financial are dependent on favorable business conditions to meet financial commitments.
Security
CC
(Double C) Insurance Companies rated ‘CC’ have EXTREMELY WEAK financial security characteristics
Extremely Weak and are likely not to meet some of their financial commitments.
Financial Security
A 'C' rating is assigned to insurance companies that are currently highly vulnerable to
C non-payment, having obligations with payment arrearages allowed by the terms of the
(Single C) documents, or have obligations subject of a bankruptcy petition or similar action though
Near to Default have not experienced a payment default. C is typically in default, with little prospect for
meeting its financial commitments.
'D' is assigned to insurance companies which are in DEFAULT. The 'D' rating also will be
D
used upon the filing of a bankruptcy petition or the taking of a similar action if payments
Default
on an obligation are jeopardized.
*Note: CRAB appends numerical modifiers 1, 2, and 3 to each generic rating classification from AA through CCC. The
modifier 1 indicates that the obligation ranks in the higher end of its generic rating category; the modifier 2 indicates
a mid-range ranking; and the modifier 3 indicates a ranking in the lower end of that generic rating category.

77
 CRAB Rating Scales and Definitions

Appendix 09: CRAB Rating Scales and Definitions –Insurance (Short Term)

SHORT TERM CREDIT RATING: INSURANCE

Short Term Ratings Definition

Insurance companies rated ‘ST 1’ have STRONG ability to meet their financial
ST-1 commitments on short-term policy obligations. They are rated in the highest category
by CRAB.
Insurance companies rated ‘ST 2’ have a GOOD ability to meet their financial
ST-2 commitments on short-term policy obligations. However, they are somewhat more
susceptible to the adverse effects of changes in circumstances and economic
conditions than insurers in the highest rating category.
Insurance Companies rated ‘ST 3’ have an ADEQUATE ability to meet their financial
ST-3 commitments on short-term policy obligations. However, adverse economic conditions
or changing circumstances are more likely to lead to a weakened ability of the insurers
to meet their financial obligations.
Insurance Companies rated ‘ST 4’ are regarded as VULNERABLE and has significant
speculative characteristics. The insurance companies currently have the ability to meet
ST-4 their financial commitments on short-term policy obligations; however, they may be
facing major ongoing uncertainties which can lead to the insurer’s inadequate ability
to meet their financial obligations.
Insurance Companies rated ‘ST 5’ are regarded as CURRENTLY VULNERABLE to non-
payment and are dependent upon favorable business, financial, and economic
ST-5
conditions for them to meet their financial commitments on short-term policy
obligations.
Insurance Companies rated ‘ST 6’ are considered to have Obligations which have a high
ST -6
risk of DEFAULT or which are currently in default.

© Copyright 2024, CREDIT RATING AGENCY OF BANGLADESH LIMITED ("CRAB"). All rights reserved. ALL INFORMATION
CONTAINED HEREIN IS PROTECTED BY COPYRIGHT LAW AND NONE OF SUCH INFORMATION MAY BE COPIED OR OTHERWISE
REPRODUCED, REPACKAGED, FURTHER TRANSMITTED, TRANSFERRED, DISSEMINATED, REDISTRIBUTED OR RESOLD, OR STORED
FOR SUBSEQUENT USE FOR ANY SUCH PURPOSE, IN WHOLE OR IN PART, IN ANY FORM OR MANNER OR BY ANY MEANS
WHATSOEVER, BY ANY PERSON WITHOUT CRAB’S PRIOR WRITTEN CONSENT. All information contained herein is obtained by
CRAB from sources believed by it to be accurate and reliable. Because of the possibility of human or mechanical error as well
as other factors, however, such information is provided “as is” without warranty of any kind and CRAB, in particular, makes no
representation or warranty, express or implied, as to the accuracy, timeliness, completeness, merchantability or fitness for any
particular purpose of any such information. Under no circumstances shall CRAB have any liability to any person or entity for
(a) any loss or damage in whole or in part caused by, resulting from, or relating to, any error (negligent or otherwise) or other
circumstance or contingency within or outside the control of CRAB or any of its directors, officers, employees or agents in
connection with the procurement, collection, compilation, analysis, interpretation, communication, publication or delivery of
any such information, or (b) any direct, indirect, special, consequential, compensatory or incidental damages whatsoever
(including without limitation, lost profits), even if CRAB is advised in advance of the possibility of such damages, resulting from
the use of or inability to use, any such information. The credit ratings and financial reporting analysis observations, if any,
constituting part of the information contained herein are, and must be construed solely as, statements of opinion and not
statements of fact or recommendations to purchase, sell or hold any securities. NO WARRANTY, EXPRESS OR IMPLIED, AS TO
THE ACCURACY, TIMELINESS, COMPLETENESS, MERCHANTABILITY OR FITNESS FOR ANY PARTICULAR PURPOSE OF ANY SUCH
RATING OR OTHER OPINION OR INFORMATION IS GIVEN OR MADE BY CRAB IN ANY FORM OR MANNER WHATSOEVER. Each
rating or other opinion must be weighed solely as one factor in any investment decision made by or on behalf of any user of
the information contained herein, and each such user must accordingly make its own study and evaluation of each security
and of each issuer and guarantor of, and each provider of credit support for, each security that it may consider purchasing,
holding or selling.

78
 CRAB Rating Scales and Definitions

Appendix 10: CRAB Rating Scales and Definitions –Debt Instruments (Long Term)

LONG TERM CREDIT RATING: DEBT INSTRUMENTS

Long Term Ratings Definition

AAA
(Triple A) Debt instruments rated 'AAA' have extremely strong capacity to meet financial
Extremely Strong commitments. These are judged to be of the highest quality, with minimal credit risk.
Capacity
AA1, AA2, AA3*
(Double A) Debt instruments rated 'AA' have very strong capacity to meet financial commitments.
Very Strong These are judged to be of very high quality, subject to very low credit risk.
Capacity

A1, A2, A3 Debt instruments rated 'A' have strong capacity to meet financial commitments, but
(Single A) susceptible to the adverse effects of changes in circumstances and economic
Strong Capacity conditions. These are judged to be of high quality, subject to low credit risk.

Debt instruments rated 'BBB' have adequate capacity to meet financial commitments
BBB1, BBB2, BBB3
but more susceptible to adverse economic conditions or changing circumstances. They
(Triple B)
are subject to moderate credit risk. Such rated projects possess certain speculative
Adequate Capacity
characteristics.
Debt instruments rated 'BB' have inadequate capacity to meet financial commitments.
BB1, BB2, BB3
They have major ongoing uncertainties and exposure to adverse business, financial, or
(Double B)
economic conditions. Such projects have speculative elements, and are subject to
Inadequate Capacity
substantial credit risk.
B1, B2, B3
Debt instruments rated 'B' have weak capacity to meet financial commitments. They
(Single B)
have speculative elements and are subject to high credit risk.
Weak Capacity

CCC1, CCC2, CCC3

Debt instruments rated 'CCC' have very weak capacity to meet financial obligations.
(Triple C)
They have very weak standing and are subject to very high credit risk.
Very Weak Capacity

CC
Debt instruments rated 'CC' have extremely weak capacity to meet financial obligations.
(Double C)
They are highly speculative and are likely in, or very near, default, with some prospect
Extremely Weak
of recovery of principal and interest.
Capacity
Debt instruments rated 'C' are highly vulnerable to non-payment, have payment
C arrearages allowed by the terms of the documents, or subject of bankruptcy petition,
(Single C) but have not experienced a payment default. Payments may have been suspended in
Near to Default accordance with the instrument's terms. They are typically in default, with little prospect
for recovery of principal or interest.

D 'D' rating will also be used upon the filing of a bankruptcy petition or similar action if
Default payments on an obligation are jeopardized.

*Note: CRAB appends numerical modifiers 1, 2, and 3 to each generic rating classification from AA through CCC. The
modifier 1 indicates that the obligation ranks in the higher end of its generic rating category; the modifier 2 indicates
a mid-range ranking; and the modifier 3 indicates a ranking in the lower end of that generic rating category.

79
 CRAB Rating Scales and Definitions

Appendix 11: CRAB Rating Scales and Definitions –Project Finance (Long Term)

LONG TERM CREDIT RATING: PROJECT FINANCE

Long Term Ratings Definition

AAA
(Triple A)
Projects rated 'AAA' have extremely strong capacity to meet financial commitments. These
Extremely Strong
are judged to be of the highest quality, with minimal credit risk.
Capacity & Minimal
Credit Risk
AA1, AA2, AA3*
(Double A)
Projects rated 'AA' have very strong capacity to meet financial commitments. These are
Very Strong Capacity
judged to be of very high quality, subject to very low credit risk.
& Very Low Credit
Risk
A1, A2, A3
Projects rated 'A' have strong capacity to meet financial commitments, but susceptible to
(Single A)
the adverse effects of changes in circumstances and economic conditions. These are judged
Strong Capacity &
to be of high quality, subject to low credit risk.
Low Credit Risk
BBB1, BBB2, BBB3
Projects rated 'BBB' have adequate capacity to meet financial commitments but more
(Triple B)
susceptible to adverse economic conditions or changing circumstances. They are subject
Adequate Capacity &
to moderate credit risk. Such rated projects possess certain speculative characteristics.
Moderate Credit Risk
BB1, BB2, BB3
Projects rated 'BB' have inadequate capacity to meet financial commitments. They have
(Double B)
major ongoing uncertainties and exposure to adverse business, financial, or economic
Inadequate Capacity
conditions. Such projects have speculative elements, and are subject to substantial credit
& Substantial Credit
risk.
Risk
B1, B2, B3
(Single B) Projects rated 'B' have weak capacity to meet financial commitments. They have speculative
Weak Capacity & High elements and are subject to high credit risk.
Credit Risk
CCC1, CCC2, CCC3
(Triple C) Projects rated 'CCC' have very weak capacity to meet financial obligations. They have very
Very Weak Capacity & weak standing and are subject to very high credit risk.
Very High Credit Risk
CC
(Double C) Projects rated 'CC' have extremely weak capacity to meet financial obligations. They are
Extremely Weak highly speculative and are likely in, or very near, default, with some prospect of recovery
Capacity & Extremely of principal and interest.
High Credit Risk

Projects rated 'C' are highly vulnerable to non-payment, have payment arrearages allowed
C
by the terms of the documents, or subject of bankruptcy petition, but have not experienced
(Single C)
a payment default. Payments may have been suspended in accordance with the instrument's
Near to Default
terms. They are typically in default, with little prospect for recovery of principal or interest.

D 'D' rating will also be used upon the filing of a bankruptcy petition or similar action if
Default payments on an obligation are jeopardized.
*Note: CRAB appends numerical modifiers 1, 2, and 3 to each generic rating classification from AA through CCC. The
modifier 1 indicates that the obligation ranks in the higher end of its generic rating category; the modifier 2 indicates
a mid-range ranking; and the modifier 3 indicates a ranking in the lower end of that generic rating category.

80
 CRAB Rating Scales and Definitions

Appendix 12: CRAB Rating Scales and Definitions –SME

Rating Rating Definition

CRAB-SE 1/ME 1 The highest credit-quality rating assigned by CRAB to an SE/ME

CRAB-SE 2/ME 2 The high credit-quality rating assigned by CRAB to an SE/ME
CRAB-SE 3/ME 3 The adequate credit-quality rating assigned by CRAB to an SE/ME
CRAB-SE 4/ME 4 The moderate credit-quality rating assigned by CRAB to an SE/ME
CRAB-SE 5/ME 5 The inadequate credit-quality rating assigned by CRAB to an SE/ME
CRAB-SE 6/ME 6 The risk prone credit-quality rating assigned by CRAB to an SE/ME
CRAB-SE 7/ME 7 The poor credit-quality rating assigned by CRAB to an SE/ME
CRAB-SE 8/ME 8 The lowest credit-quality rating assigned by CRAB to an SE/ME

DISCLAIMER
© Copyright 2024, CREDIT RATING AGENCY OF BANGLADESH LIMITED ("CRAB"). All rights reserved. ALL INFORMATION
CONTAINED HEREIN IS PROTECTED BY COPYRIGHT LAW AND NONE OF SUCH INFORMATION MAY BE COPIED OR
OTHERWISE REPRODUCED, REPACKAGED, FURTHER TRANSMITTED, TRANSFERRED, DISSEMINATED, REDISTRIBUTED OR
RESOLD, OR STORED FOR SUBSEQUENT USE FOR ANY SUCH PURPOSE, IN WHOLE OR IN PART, IN ANY FORM OR MANNER
OR BY ANY MEANS WHATSOEVER, BY ANY PERSON WITHOUT CRAB’S PRIOR WRITTEN CONSENT. All information
contained herein is obtained by CRAB from sources believed by it to be accurate and reliable. Because of the possibility
of human or mechanical error as well as other factors, however, such information is provided “as is” without warranty
of any kind and CRAB, in particular, makes no representation or warranty, express or implied, as to the accuracy,
timeliness, completeness, merchantability or fitness for any particular purpose of any such information. Under no
circumstances shall CRAB have any liability to any person or entity for (a) any loss or damage in whole or in part
caused by, resulting from, or relating to, any error (negligent or otherwise) or other circumstance or contingency
within or outside the control of CRAB or any of its directors, officers, employees or agents in connection with the
procurement, collection, compilation, analysis, interpretation, communication, publication or delivery of any such
information, or (b) any direct, indirect, special, consequential, compensatory or incidental damages whatsoever
(including without limitation, lost profits), even if CRAB is advised in advance of the possibility of such damages,
resulting from the use of or inability to use, any such information. The credit ratings and financial reporting analysis
observations, if any, constituting part of the information contained herein are, and must be construed solely as,
statements of opinion and not statements of fact or recommendations to purchase, sell or hold any securities. NO
WARRANTY, EXPRESSED OR IMPLIED, AS TO THE ACCURACY, TIMELINESS, COMPLETENESS, MERCHANTABILITY OR
FITNESS FOR ANY PARTICULAR PURPOSE OF ANY SUCH RATING OR OTHER OPINION OR INFORMATION IS GIVEN OR
MADE BY CRAB IN ANY FORM OR MANNER WHATSOEVER. Each rating or other opinion must be weighed solely as one
factor in any investment decision made by or on behalf of any user of the information contained herein, and each
such user must accordingly make its own study and evaluation of each security and of each issuer and guarantor of,
and each provider of credit support for, each security that it may consider purchasing, holding or selling.

81
 Corporate Office:
Credit Rating Agency of Bangladesh Ltd. (CRAB)
www.crab.com.bd; www.crabrating.com

D H Tower, Level-15, 6 Panthapath, Dhaka-1215

Phone: +8802 55013678, 55013679,
55013681, 55013682, 55013683
Fax: +88 0255013684
Email: [email protected]
Web: www.crab.com.bd, www.crabrating.com

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Excel SM Tower, Ground Floor
62, Zakir Hossain Road
(Garibulla Shah Mazar Road)
GEC, Khulshi, Chittagong
Phone: 88031 632021, 632022, Fax: 88031 632023

Bogra Office:
Sobi Villa (3rd Floor)
(In front of Independent General Hospital)
981/1, S Chattergy Lane,
Jaleswaritola, Bogura.
Mobile: 01777- 758864
Email: [email protected]

Credit Rating Agency of Bangladesh Limited