LIST OF CREDIT RATING AGENCIES

STANDARD & POORS

RATING:

INVESTMENT GRADE NON-INVESTMENT GRADE SHORT-TERM

BB, B, CCC, CC, C, R, SD, D,
AAA, AA+, AA, AA-, A+, A, BBB A-1, A-2, A-3, B, C, D
NR

MOODYS INVESTOR SERVICE

RATING:

INVESTMENT GRADE SPECULATIVE GRADE

Aaa, Aa1, Aa2, Aa3, A1, A2, A3, Baa1, Baa2, Ba1, Ba2, Ba3, B1, B2, B3, Caa1, Caa2, Caa3,
Baa3 Ca, C

FITCH RATINGS
RATING:

INVESTMENT GRADE NON-INVESTMENT GRADE SHORT-TERM RATING

AAA, AA, A, BBB BB, B, CCC, CC, C, D, NR F1+, F1, F2, F3, B, C, D

JCR-VIS CREDIT RATING COMPANY LIMITED

RATING:

MEDIUM TO LONG-TERM SHORT-TERM

AAA, AA+, AA, AA-, A+, A, A-, BBB+, BBB, A-1+, A-1, A-2, A-3, B, C
BBB-, BB+, BB, BB-, B+, B, B-, CCC, CC, C,
D

PAKISTAN CREDIT RATING AGENCY(PACRA)

RATING:

LONG TERM RATINGS SHORT TERM RATINGS

AAA, AA, A, BBB, BB, B, CCC, CC, C A1+, A1, A2, A3, B, C, D

GLOBAL CREDIT RATINGS CO.

RATING:
LONG TERM RATING SHORT TERM RATINGS
AAA, AA+, AA, AA-, A+, A, A-, BBB+, BBB, A1+, A1, A1-, A2, A3, B, C, LD/DD
BBB-, BB+, BB, BB-, B+, B, B-, CCC, LD/DD

INVESTMENT INFORMATION AND CREDIT RATING

AGENCY (ICRA)
RATING:

LONG TERM RATING SHORT TERM RATINGS

AAA, AA, A, BBB, BB, B, C, D A1, A2, A3, A4, D