United Power Generation, Pioneer Insurance earn ‘AAA’ credit rating

United Power Generation & Distribution Company Ltd and Pioneer Insurance Company Ltd have completed their respective credit rating results.

The Dhaka Stock Exchange (DSE) confirmed the information on its website on Sunday.

Emerging Credit Rating Limited (ECRL) has assigned the surveillance rating of United Power Generation & Distribution Company as "AAA" in the long term and "ST-1" in the short term along with a stable outlook based on audited financial statements of the company up to June 30, 2020, and other relevant quantitative and qualitative information up to the date of rating declaration.

On the other hand, Alpha Credit Rating Ltd (AlphaRating) has rated Pioneer Insurance as "AAA" in the long term and "ST-1" in the short term along with a stable outlook based on audited financial statements of the company as on December 31, 2019, and relevant qualitative information till December 16, 2020.