Adon Construction receives BBB credit rating from ACRSL, a RACE Group company

Dhaka, December 12, 2024 – Argus Credit Rating Services Limited (ACRSL), a leading credit rating agency in Bangladesh and a part of the RACE Financial Group, issued a BBB (Plain Triple B) credit rating to Adon Construction and Dredging Limited. This rating reflects moderate safety in creditworthiness, indicating the company’s reasonable capacity to meet its financial commitments while maintaining a moderate cushion against adverse economic conditions compared to higher-rated peers.

Licensed by the Bangladesh Securities and Exchange Commission (BSEC) and approved by Bangladesh Bank, ACRSL provides ratings for a diverse range of entities including corporates, SMEs, microfinance institutions, and structured finance products. The agency has built a strong presence in the MSME sector, holding the highest number of ratings in this segment, and is recognized for promoting research-based transparency and financial market integrity.

Operating under the RACE Financial Group, led by Dr. Hasan Imam, founder of RACE Asset Management, ACRSL plays a crucial role in assessing the credit risk of businesses and financial instruments in Bangladesh. Its evaluations combine qualitative and quantitative analyses, historical data, and forward-looking scenarios to provide time-bound credit assessments for entities, bonds, and mutual funds.