Please be
informed that ARGUS Credit Rating Services Limited (“ACRSL”) has conducted
Credit Rating of “Islami Insurance Bangladesh Limited”. Rating details are
given below:
|
CREDIT RATING |
CURRENT |
|
Long-Term |
AA+ |
|
Short-Term |
ST-2 |
|
Publishing
Date |
15 May,
2023 |
|
Expiry
Date |
15 May, 2024 |
|
|
|
|
Rating |
Explanation |
|
AA+ |
Long term: Very
high claims paying ability. Protection factors are strong. Risk is modest,
but may vary slightly over time due to underwriting and/or
economic condition. |
|
ST-2 |
Short Term: High
claims paying ability. Protection factors are good and there is an expectation
of variability in risk over time due to economic and/or
underwriting conditions. |
|
Rating
Based On |
Rating Validity: This
validity assumes no additional loan over that disclosed in Q1FY22 [ending March 31] audited/management certified balance sheet and that management has
disclosed all material & adverse to financials since Q1FY22. |