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| Name | Date | Rating Type | Long Term | Short Term | Outlook | Action |
|---|---|---|---|---|---|---|
| Adam Securities Limited | 9/17/2020 | Entity | A- | A-2 | Stable | Upgrade |
| Adam Securities Limited | 1/18/2021 | BMR | BMR2 | Stable | Reaffirmed | |
| AKD Securities Limited | 11/30/2020 | Entity | A+ | A-1 | Stable | Upgrade |
| AKD Securities Limited | 4/8/2020 | BMR | BMR2++ | Stable | Reaffirmed | |
| Arif Habib Limited | 4/13/2020 | Entity | AA- | A-1 | Stable | Reaffirmed |
| BIPL Securities Limited | 4/13/2020 | Entity | A- | A-2 | Rating Watch - Developing | Maintained |
| BIPL Securities Limited | 3/2/2021 | BMR | BMR2+ | Stable | Reaffirmed | |
| BMA Capital Management Limited | 5/12/2020 | Entity | A- | A-2 | Stable | Maintained |
| BMA Capital Management Limited | 3/27/2020 | BMR | BMR2+ | Stable | Reaffirmed | |
| Darson Securities Limited | 12/29/2020 | BMR | BMR2 | Stable | Initial | |
| Fawad Yusuf Securities Pvt. Ltd | 2/26/2021 | Entity | A- | A-2 | Stable | Initial |
| Foundation Securities Private Limited | 4/23/2020 | Entity | A- | A-2 | Stable | Maintained |
| Foundation Securities Private Limited | 5/20/2020 | BMR | BMR2 | Stable | Reaffirmed | |
| Growth Securities (Pvt.) Limited | 5/19/2020 | Entity | A- | A-2 | Stable | Initial |
| Integrated Equities Limited | 1/11/2021 | BMR | BMR2 | Stable | Upgrade | |
| Intermarket Securities Limited | 12/4/2020 | Entity | A+ | A-2 | Stable | Reaffirmed |
| Intermarket Securities Limited | 3/5/2020 | BMR | BMR2 | Stable | Reaffirmed | |
| MRA Securities Limited | 12/21/2020 | Entity | A- | A-2 | Stable | Reaffirmed |
| MRA Securities Limited | 4/10/2020 | BMR | BMR2 | Stable | Initial | |
| Muhammad Munir Muhammad Ahmed Khanani Securities Limited | 3/13/2020 | BMR | BMR2 | Stable | Initial | |
| Muhammad Munir Muhammad Ahmed Khanani Securities Limited | 5/7/2020 | Entity | A- | A-2 | Stable | Initial |
| Multiline Securities Limited | 2/12/2021 | Entity | A- | A-2 | Stable | Initial |
| Next Capital Limited | 6/15/2020 | Entity | A- | A-2 | Stable | Reaffirmed |
| Next Capital Limited | 4/8/2020 | BMR | BMR2++ | Stable | Reaffirmed | |
| Pearl Securities Limited | 12/2/2020 | BMR | Suspended | |||
| Taurus Securities Limited | 1/18/2021 | Entity | A | A-2 | Stable | Reaffirmed |
| Topline Securities Limited | 4/24/2020 | Entity | A- | A-2 | Positive | Maintained |
| Topline Securities Limited | 5/14/2020 | BMR | BMR2+ | Stable | Upgrade | |