Hong Kong / Lahore, September 1, 2026 — Lianhe Ratings Global Limited (“Lianhe Global”) and the Pakistan Credit Rating Agency Limited (“PACRA”), the first and leading credit rating agency in Pakistan, have entered into a Memorandum of Understanding (“MoU”) to establish a framework for cooperation. The MoU brings together Lianhe Global’s international credit rating capabilities and the Lianhe Group’s significant presence and experience in China’s domestic and cross-border debt markets with PACRA’s established presence and understanding of Pakistan’s credit markets.