Completed credit rating of seven companies

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Completed credit rating of seven companies

The credit rating of seven companies listed on the stock market has been completed. The companies are BRAC Bank, Reliance Insurance, Continental Insurance, National Feed Mill, People’s Insurance, RN Spinning Mills, and Style Craft Limited.

On Tuesday (July 02), the companies announced through Dhaka and Chittagong Stock Exchange (DSE-CSE). between companies

The credit rating of BRAC Bank and RN Spinning has been determined by Emerging Credit Rating Limited.

People’s Insurance, Reliance Insurance, and National Feed Mill’s credit rating is assessed by Credit Rating Information and Services Limited.

Besides, the Credit Rating Agency of Bangladesh and Continental Insurance has determined the credit rating of Style Craft by Alpha Credit Rating Limited.

BRAC Bank is rated ‘AAA’ for the long term and ‘ST-1’ for the short term. The rating has been determined based on audited financial reports and other factors as of December 31, 2023.

RN Spinning Mills is rated ‘B’ for the long term and ‘ST-5’ for the short term. The rating has been determined based on unaudited financial reports for the last 9 months till March 31, 2024, and other factors.

National Feed Mill is rated ‘ST-4’ in the long term and short term. The rating is based on audited financial statements as of June 30, 2023, and unaudited financial statements as of March 31, 2024, and other factors.

People’s Insurance has a long-term ‘AA’ rating. The rating is based on audited financial statements as of December 31, 2023, and unaudited financial statements as of March 31, 2024, and other factors.

Reliance Insurance has a long-term ‘AAA’ rating. The rating is based on audited financial statements as of December 31, 2023, and unaudited financial statements as of March 31, 2024, and other factors.

Style Craft is rated ‘BBB2’ for the long term and ‘ST-3’ for the short term. The rating is based on audited financial statements as of June 30, 2023, and unaudited financial statements as of March 31, 2024, and other factors.

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