National Credit Ratings Limited (NCR) is number one for credit union ratings especially for those finance organizations that give cash advance loans and takes high risk deposits from clients.
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National Credit Ratings Ltd

Transition Matrix



NCR has conducted transition matrix analysis of the rated clients from the year 2017 to year 2022. Transition matrix analysis is done to see the percentage of changes in credit rating of each rating category.



One Years Weighted Average Rating Transition Rates from the Year 2017 to Year 2022.

Transition Matrix 2023



Rating transition study looks at how ratings have changed over a period of time. Based on NCR’s weighted average one-year transition matrix, it can be inferred that out of all the A+ rated companies at the beginning of the year 81.78% have remain in the same category and 11.98% have been upgraded to AA- category. The remaining 4.70% and 1.15% have been downgraded to A & A- category respectively. Similar interpretation can be done for the other rating category as well.






The Methodology is developed by National Credit Ratings Limited (NCRL) based on data/information from secondary reliable sources which is in compliance with the guidelines provided by Bangladesh Securities and Exchange Commission and Bangladesh Bank. NCRL puts best efforts to prepare this document. The methodology may inherit human error, technical and/or systematic error as its limitation. Therefore, NCRL does not provide warranty of any kind for this document. This is the property of NCRL and is only used for rating of corporate issues. None of the information in this document can be copied or otherwise reproduced, stored or disseminated in whole or in part in any form or by any means whatsoever by any person without written consent of NCRL.


For further details please contact:

National Credit Ratings Ltd.

Zaman Tower (8th Floor)

37/2, Box Culvert Road, Purana Paltan


Tel: +88-02-47120156-58



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