QUARTERLY CREDIT RATING REPORT
(Alpha Credit Rating Limited)
(Third Quarter, 2019)
01 July 2019 to 30 September 2019
| SL. No. | Name of Company | Type of Company | Rating Date | Long TermRating | Expiry Date | Short TermRating |
| 1 | Sinha Knit Industries Ltd. | Corp | 1-Jul-19 | BBB+ | 30-Jun-20 | ST-3 |
| 2 | M/S Base Textiles Ltd. | Corp | 1-Jul-19 | A | 30-Jun-20 | ST-2 |
| 3 | Radium ComositeTextile Mills Ltd. (Spinnig Division) | Corp | 1-Jul-19 | BBB+ | 30-Jun-20 | ST-3 |
| 4 | M/S AMC Trade Link | Corp | 2-Jul-19 | BBB+ | 1-Jul-20 | ST-3 |
| 5 | M/S Norm Banijjoloya | Corp | 2-Jul-19 | BBB | 1-Jul-20 | ST-3 |
| 6 | M/S Shah Amanat Traders | Corp | 2-Jul-19 | BBB | 1-Jul-20 | ST-3 |
| 7 | M/S Hasan Trading Corporation | Corp | 2-Jul-19 | BBB | 1-Jul-20 | ST-3 |
| 8 | M/S Kazi Jhol Jholi Farms Limited | Corp | 3-Jul-19 | BBB | 2-Jul-20 | ST-3 |
| 9 | Surma Medical Services Ltd | Corp | 3-Jul-19 | BBB | 2-Jul-20 | ST-3 |
| 10 | Advarto Footware Ltd. | Corp | 4-Jul-19 | A- | 3-Jul-20 | ST-3 |
| 11 | F-Z Technologies Ltd. | Corp | 7-Jul-19 | A | 6-Jul-20 | ST-2 |
| 12 | M/S Hossain Traders | Corp | 7-Jul-19 | BBB | 6-Jul-20 | ST-3 |
| 13 | Dhaka Far-East Limited | Corp | 7-Jul-19 | BBB | 6-Jul-20 | ST-3 |
| 14 | Wazed Spinning Mills Ltd. | Corp | 8-Jul-19 | BBB+ | 7-Jul-20 | ST-3 |
| 15 | BIPSH Medical Services Limited | Corp | 8-Jul-19 | BBB | 7-Jul-20 | ST-3 |
| 16 | The IBN Sina Pharmacutical Industries Ltd | Corp | 9-Jul-19 | A+ | 8-Jul-20 | ST-2 |
| 17 | North West Power Generation Co. Ltd. | Corp | 9-Jul-19 | AAA | 8-Jul-20 | ST-1 |
| 18 | Coupon Bearing Floting Non-Convertible BDT 10000 million Bond of North West Power Generation | Bond | 9-Jul-19 | AA+ | 8-Jul-20 | |
| 19 | M/S Refinery Ltd. | Corp | 9-Jul-19 | BBB+ | 8-Jul-20 | ST-3 |
| 20 | Sadd Musa Fabrics Ltd | Corp | 9-Jul-19 | A | 8-Jul-20 | ST-3 |
| 21 | Mahmud Denims Limited | Corp | 10-Jul-19 | AA | 9-Jun-20 | ST-1 |
| 22 | Mahmud Jeans Limited | Corp | 10-Jul-19 | A | 10-Jun-20 | ST-2 |
| 23 | Mahmud Washing Plant Limited | Corp | 10-Jul-19 | BBB+ | 10-Jun-20 | ST-3 |
| 24 | HM Ship Breaking Industry Ltd. | Corp | 10-Jul-19 | BBB | 9-Jul-20 | ST-3 |
| 25 | Tokai Power Products Ltd. | Corp | 10-Jul-19 | BBB | 9-Jul-20 | ST-3 |
| 26 | Asia Pasific General Insurance Compnay Limited | Non-Life Insurance | 11-Jul-19 | AA | 10-Jul-20 | ST-1 |
| 27 | Mosharraf Spinning Mills (Pvt) Ltd | Corp | 11-Jul-19 | BBB | 10-Jul-20 | ST-3 |
| 28 | M/S Haque & Sons | Corp | 11-Jul-19 | BBB+ | 10-Jul-20 | ST-3 |
| 29 | Water Ride Limited | Corp | 11-Jul-19 | BBB+ | 10-Jul-20 | ST-3 |
| 30 | Islamic Finance and Investment Limited | Corp | 14-Jul-19 | A+ | 13-Jul-20 | ST-2 |
| 31 | Nawab Abdul Malek Jute Mills BD Ltd. | Corp | 14-Jul-19 | A | 13-Jul-20 | ST-2 |
| 32 | Diamond Sweater Industries Ltd | Corp | 15-Jul-19 | BBB | 14-Jul-20 | ST-3 |
| 33 | Fashion Point Limited | Corp | 15-Jul-19 | A- | 14-Jul-20 | ST-3 |
| 34 | Mahmud Indigo Limited | Corp | 17-Jul-19 | A+ | 19-Jun-20 | ST-2 |
| 35 | Mahmud Trading Corporation | Corp | 17-Jul-19 | BBB+ | 20-Jun-20 | ST-3 |
| 36 | Mahmud Fashion Limited | Corp | 17-Jul-19 | A | 24-Jun-20 | ST-3 |
| 37 | Abdullah Grand Hotel Ltd | Corp | 17-Jul-19 | BBB+ | 16-Jul-20 | ST-3 |
| 38 | Jamuna Denims Ltd. | Corp | 21-Jul-19 | BBB+ | 20-Jul-20 | ST-3 |
| 39 | Aamra Networks Limited | Corp | 22-Jul-19 | A+ | 21-Jul-20 | ST-2 |
| 40 | Bhulua Island Amusment Ltd | Corp | 22-Jul-19 | BBB+ | 21-Jul-20 | ST-3 |
| 41 | SKY Fotwear Ltd. | Corp | 22-Jul-19 | BBB+ | 21-Jul-20 | ST-3 |
| 42 | Tory Shoes (BD) Limited | Corp | 22-Jul-19 | BBB | 21-Jul-20 | ST-3 |
| 43 | Creative Paper Mills Ltd. | Corp | 23-Jul-19 | A- | 22-Jul-20 | ST-3 |
| 44 | M/S Fashion .Com.Ltd. | Corp | 23-Jul-19 | A- | 22-Jul-20 | ST-3 |
| 45 | AIPS Apperals Limited | Corp | 23-Jul-19 | A- | 22-Jul-20 | ST-2 |
| 46 | Mars Sports Wear Ltd. | Corp | 24-Jul-19 | BBB+ | 23-Jul-20 | ST-3 |
| 47 | Shameem Spinning Mills Ltd. | Corp | 25-Jul-19 | BBB | 24-Jul-20 | ST-3 |
| 48 | Shameem Composite Ltd. | Corp | 25-Jul-19 | BBB | 24-Jul-20 | ST-3 |
| 49 | BDT 5000.00 million Floating Rate Non Convertible Subordinated Bond IV issued by Trust Bank | Bond | 28-Jul-19 | AA- | 27-Jul-20 | |
| 50 | AWR Development (BD) Ltd. | Corp | 28-Jul-19 | A+ | 27-Jul-20 | ST-2 |
| 51 | S.Alam Vegitable Oil Ltd. | Corp | 28-Jul-19 | A | 27-Jul-20 | ST-2 |
| 52 | AWR Real Estate Ltd. | Corp | 28-Jul-19 | A- | 27-Jul-20 | ST-2 |
| 53 | IBCS Primax Software (Bangla) Ltd. | Corp | 28-Jul-19 | BBB+ | 27-Jul-20 | ST-3 |
| 54 | Best Style Composite Ltd. | Corp | 28-Jul-19 | BBB+ | 27-Jul-20 | ST-3 |
| 55 | Fully Redeemabl Non Convertible Unsecured Sub ordinate Bond III Issued by Trust Bond | Bond | 29-Jul-19 | AA- | 28-Jul-20 | |
| 56 | Thermax Yarn Dyed Fabrics Ltd. | Corp | 29-Jul-19 | BBB+ | 28-Jul-20 | ST-3 |
| 57 | Golden Ispat Limited | Corp | 29-Jul-19 | A- | 28-Jul-20 | ST-3 |
| 58 | M/S Al-Enayet Trading | Corp | 29-Jul-19 | BBB- | 28-Jul-20 | ST-3 |
| 59 | Karnaphuli Insurance Company Limited | Corp | 30-Jul-19 | AA | 29-Jul-20 | ST-2 |
| 60 | Development Initiative for Human Advancement (DIHA) | NGO | 30-Jul-19 | BBB | 29-Jul-20 | ST-3 |
| 61 | Faiaz Composite Ltd. | Corp | 30-Jul-19 | A- | 29-Jul-20 | ST-3 |
| 62 | Kutir Nirman Kousholi Ltd | Corp | 30-Jul-19 | BBB+ | 29-Jul-20 | ST-3 |
| 63 | M/S T & A Technology | Corp | 30-Jul-19 | BBB | 29-Jul-20 | ST-3 |
| 64 | MASK Associates (Pvt) Limited | Corp | 30-Jul-19 | A | 29-Jul-20 | ST-2 |
| 65 | Martial Transport and Logistic Service Ltd. | Corp | 30-Jul-19 | BBB+ | 29-Jul-20 | ST-3 |
| 66 | Rio Fashion Wear Ltd. | Corp | 30-Jul-19 | BBB- | 29-Jul-20 | ST-3 |
| 67 | Chemon Ispat Limited | Corp | 31-Jul-19 | A- | 30-Jul-20 | ST-2 |
| 68 | AG Poly & Fiber Industries Ltd. | Corp | 31-Jul-19 | BBB | 30-Jul-20 | ST-3 |
| 69 | Mohiuddin Textile Limited | Corp | 31-Jul-19 | BBB+ | 30-Jul-20 | ST-3 |
| 70 | Thermax Cheek Fabrics Ltd. | Corp | 31-Jul-19 | BBB+ | 30-Jul-20 | ST-3 |
| 71 | Progati Life Insurance Ltd. | Non-Life Insurance | 1-Aug-19 | AA | 31-Jul-20 | ST-2 |
| 72 | Odessey Craft (PVT) Limited | Corp | 7-Aug-19 | BBB | 6-Aug-20 | ST-3 |
| 73 | M.M Builders & Engineers Ltd. | Corp | 8-Aug-19 | A | 7-Aug-20 | ST-2 |
| 74 | Republic Insurance (BD) Ltd. | Non-Life Insurance | 19-Aug-19 | A+ | 18-Aug-20 | ST-2 |
| 75 | M/S Faruq Enterprise | Corp | 19-Aug-19 | BBB+ | 18-Aug-20 | ST-3 |
| 76 | Maa Industries Limited | Corp | 19-Aug-19 | BBB | 18-Aug-20 | ST-3 |
| 77 | Zohura Traders (Pvt) Ltd. | Corp | 19-Aug-19 | BBB+ | 18-Aug-20 | ST-3 |
| 78 | Navana LPG Ltd. | Corp | 20-Aug-19 | A | 19-Aug-20 | ST-2 |
| 79 | Solar Inter Continental (SOLARK) Ltd. | Corp | 20-Aug-19 | BBB | 19-Aug-20 | ST-3 |
| 80 | M/S Amirabad Traders | Corp | 22-Aug-19 | BBB | 21-Aug-20 | ST-3 |
| 81 | Mohammad Saidur Rahman Agro Industries Ltd. | Corp | 22-Aug-19 | BBB | 21-Aug-20 | ST-3 |
| 82 | A.S.S Knitwear Ltd. | Corp | 22-Aug-19 | BBB+ | 21-Aug-20 | ST-3 |
| 83 | Misham Breeder Firms & Hatchery | Corp | 25-Aug-19 | BBB | 24-Aug-20 | ST-3 |
| 84 | Navana CNG Ltd | Corp | 26-Aug-19 | AA- | 25-Aug-20 | ST-3 |
| 85 | Supreme Stich Co. Ltd | Corp | 26-Aug-19 | BBB+ | 25-Aug-20 | ST-3 |
| 86 | Universal Refinery Pvt Ltd. | Corp | 27-Aug-19 | BBB | 26-Aug-20 | ST-3 |
| 87 | Prottoy Unnoyon Sangstha | Corp | 28-Aug-19 | BBB- | 27-Aug-20 | ST-3 |
| 88 | Palli Unnoyon Parishad | Corp | 28-Aug-19 | BBB- | 27-Aug-20 | ST-3 |
| 89 | AR Flour & Foods Ltd. | Corp | 28-Aug-19 | A- | 27-Aug-20 | ST-3 |
| 90 | Alfa Patterns (Bangladesh) Ltd. | Corp | 28-Aug-19 | BB+ | 27-Aug-20 | ST-4 |
| 91 | State Bank of India | Bank | 29-Aug-19 | AAA | 28-Aug-20 | ST-1 |
| 92 | Ruphi Fish Feed Limited | Corp | 29-Aug-19 | BB | 28-Aug-20 | ST-4 |
| 93 | Rhythm Fashion Limited | Corp | 1-Sep-19 | BBB | 31-Aug-20 | ST-3 |
| 94 | TAC Hotel & Resort Ltd. | Corp | 2-Sep-19 | BBB+ | 1-Sep-20 | ST-3 |
| 95 | Biman Bangladesh Airlines Ltd. | Corp | 3-Sep-19 | BBB+ | 2-Sep-20 | ST-3 |
| 96 | Nowapara Jute Mills Limited | Corp | 3-Sep-19 | BBB- | 2-Sep-20 | ST-3 |
| 97 | Matrix Dresses Limited | Corp | 3-Sep-19 | BBB+ | 2-Sep-20 | ST-3 |
| 98 | JMI Industrial Gas Ltd | Corp | 5-Sep-19 | A | 4-Sep-20 | ST-2 |
| 99 | Radiant Business Consortium Limited | Corp | 5-Sep-19 | A+ | 4-Sep-20 | ST-2 |
| 100 | M/S M.K.B Corporation | Corp | 5-Sep-19 | BBB | 4-Sep-20 | ST-3 |
| 101 | Elaine Apparels Limited | Corp | 5-Sep-19 | BBB- | 4-Sep-20 | ST-3 |
| 102 | Supreme Accessories Industries Ltd. | Corp | 5-Sep-19 | BBB- | 4-Sep-20 | ST-3 |
| 103 | Jamuna Builders Ltd. | Corp | 5-Sep-19 | A- | 4-Sep-20 | ST-3 |
| 104 | Unique Trims Industries Limited | Corp | 8-Sep-19 | BBB- | 7-Sep-20 | ST-4 |
| 105 | Disney Sweaters Ltd. | Corp | 9-Sep-19 | A- | 8-Sep-20 | ST-3 |
| 106 | Sodical Chemical Limited | Corp | 9-Sep-19 | BBB | 8-Sep-20 | ST-3 |
| 107 | Rokeya Spinning Mills Ltd. | Corp | 9-Sep-19 | BBB+ | 8-Sep-20 | ST-3 |
| 108 | M/S Holy Cable Suppliers | Corp | 11-Sep-19 | BBB+ | 10-Sep-20 | ST-3 |
| 109 | Green Land Pharmacuticals Limited | Corp | 11-Sep-19 | BBB+ | 10-Sep-20 | ST-3 |
| 110 | BDT 5,000 million Floating Rate Unsecured Subordinate Bond issued by Southeast Bank Limited | Bond | 12-Sep-19 | AA- | 11-Sep-20 | |
| 111 | Delta Medical College Trust | Corp | 12-Sep-19 | A | 11-Sep-20 | ST-2 |
| 112 | Progress Construction Limited | Corp | 12-Sep-19 | BBB | 11-Sep-20 | ST-3 |
| 113 | Progress Impex Limited | Corp | 12-Sep-19 | BBB+ | 11-Sep-20 | ST-3 |
| 114 | Jolshiri Abason | Corp | 13-Sep-19 | AA- | 12-Sep-20 | ST-2 |
| 115 | Gladiolas Fashionwear Limited | Corp | 15-Sep-19 | BBB- | 14-Sep-20 | ST-3 |
| 116 | Progress Motors Ltd. | Corp | 15-Sep-19 | BBB | 14-Sep-20 | ST-3 |
| 117 | Mahmud Fabrics & Finishing Ltd. | Corp | 17-Sep-19 | A | 16-Sep-20 | ST-3 |
| 118 | Royal Weaving and Coating Industries Ltd. | Corp | 17-Sep-19 | BBB+ | 16-Sep-20 | ST-3 |
| 119 | Modele DC Capital Industries Ltd. | Corp | 17-Sep-19 | A+ | 16-Sep-20 | ST-2 |
| 120 | Alauddin Textile Mills PVT Ltd | Corp | 17-Sep-19 | BB- | 16-Sep-20 | ST-5 |
| 121 | M/S Raihan Textile Mills | Corp | 18-Sep-19 | A- | 17-Sep-20 | ST-3 |
| 122 | M/S Thai Plastic Industry | Corp | 18-Sep-19 | A- | 23-Sep-20 | ST-3 |
| 123 | M/S Bangladesh House International | Corp | 18-Sep-19 | BBB | 17-Sep-20 | ST-3 |
| 124 | Karmasangstan Bank | Bank | 22-Sep-19 | BBB+ | 21-Sep-20 | ST-3 |
| 125 | Issa Nagar Trader | Corp | 23-Sep-19 | BBB+ | 22-Sep-20 | ST-3 |
| 126 | M/S M.A Kader & Co. | Corp | 23-Sep-19 | BBB | 22-Sep-20 | ST-3 |
| 127 | M/S Oishi Construction & M/S Sharif Batraloy | Corp | 23-Sep-19 | BBB- | 22-Sep-20 | ST-4 |
| 128 | Avicenna Hospital Private Limited | Corp | 23-Sep-19 | BBB | 22-Sep-20 | ST-3 |
| 129 | Vurgo MH Ltd. | Corp | 23-Sep-19 | A- | 22-Sep-20 | ST-3 |
| 130 | M/S Omar Faruk Fishing Line | Corp | 24-Sep-19 | BBB | 23-Sep-20 | ST-3 |
| 131 | New RS Hi Fashion & Co. | Corp | 24-Sep-19 | BBB+ | 23-Sep-20 | ST-3 |
| 132 | Genex Infosys Ltd. | Corp | 25-Sep-19 | A+ | 24-Sep-20 | ST-2 |
| 133 | Mars Apparals Limited | Corp | 25-Sep-19 | BBB+ | 24-Sep-20 | ST-3 |
| 134 | 1st Tranche Issue of BDT 6000 million of IBBL 3rd Mudaraba Redeemable Unsecured Non-Convertible Floting Rate Subordinated Bond | Bond | 26-Sep-19 | AA+ | 25-Sep-20 | |
| 135 | Ali Jahan Fishing Limited | Corp | 26-Sep-19 | BBB | 25-Sep-20 | ST-3 |
| 136 | D.N Textile Mills Limited | Corp | 26-Sep-19 | BB+ | 25-Sep-20 | ST-4 |
| 137 | Fawn Golden Harvest Industries Limited | Corp | 26-Sep-19 | BBB | 25-Sep-20 | ST-3 |
| 138 | Biswas Food Industries | Corp | 26-Sep-19 | BBB | 25-Sep-20 | ST-3 |
| 139 | Olympia Holdings Limited | Corp | 26-Sep-19 | BBB+ | 25-Sep-20 | ST-3 |
| 140 | Jaroms Industries Ltd. | Corp | 28-Sep-19 | BBB- | 27-Sep-20 | ST-4 |
| 141 | Sea-Star Fishing Limited | Corp | 29-Sep-19 | BBB+ | 28-Sep-20 | ST-3 |
| 142 | Ornate Vertical Blind | Corp | 29-Sep-19 | BBB | 28-Sep-20 | ST-3 |
| 143 | Terranova Developments Ltd. | Corp | 30-Sep-19 | BBB | 29-Sep-20 | ST-3 |
| 144 | M/S FB Footwear Ltd. | Corp | 30-Sep-19 | BBB | 29-Sep-20 | ST-3 |
| 145 | Raihan Textile Dyeing Printing Mills Ltd. | Corp | 30-Sep-19 | BBB | 29-Sep-20 | ST-3 |
| 146 | Anmaa Multifarious Agronomic Ltd. | Corp | 30-Sep-19 | BBB | 29-Sep-20 | ST-3 |
| 147 | M/S Janata Flour Mills | Corp | 30-Sep-19 | BBB+ | 29-Sep-20 | ST-3 |
| 148 | M/S Janata Flour Oil Mills | Corp | 30-Sep-19 | BBB | 29-Sep-20 | ST-3 |
| 149 | Root Trading Corporation Ltd. | Corp | 30-Sep-19 | A- | 29-Sep-20 | ST-3 |
| 150 | Fawn Frezzing Point Ltd. | Corp | 30-Sep-19 | BBB | 29-Sep-20 | ST-3 |
| 151 | Virgo Tobacco Ltd. | Corp | 30-Sep-19 | A- | 29-Sep-20 | ST-3 |
| 152 | Dapha Feeds and Agro Products | Corp | 30-Sep-19 | BBB+ | 29-Sep-20 | ST-3 |
| 153 | M/S BBC Steel | Corp | 30-Sep-19 | BB+ | 29-Sep-20 | ST-3 |
| 154 | Saima Ship Recycling Industries | Corp | 30-Sep-19 | BB+ | 29-Sep-20 | ST-4 |
| 155 | Mohubor Rahman Particle Mills (Pvt.) Ltd. | Corp | 30-Sep-19 | A- | 29-Sep-20 | ST-3 |