Islamic Finance gets 'A+' rating, Mercantile Insurance 'AA-'

Emerging Credit Rating Limited (ECRL) has assigned initial credit to Islamic Finance & Investment Ltd as 'A+' while Mercantile Insurance Company Ltd has been rated 'AA-' by Alpha Credit Rating Ltd (AlphaRating).

The ratings were given in the long term for both the companies listed in the Dhaka Stock Exchange (DSE).

Mercantile Insurance has received 'ST-2' rating in the short term along with a stable outlook based on audited financial statements as on December 31, 2019, and relevant qualitative information till September 7, 2020.

On the other hand, Islamic Finance & Investment Ltd also has been rated 'ST-2' in the short term along with a positive outlook based on audited financial statements up to December 31, 2019, and other relevant quantitative as well as qualitative information up to the date of the rating.