Hasan Imam leads CRA team as ACRSL issues BBB rating for Adon Construction

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, granted a BBB (Plain Triple B) 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.