Leading real estate company Building Technology & Ideas (bti) Ltd has recently received AA1 credit rating from the Credit Rating Agency of Bangladesh (CRAB).

The AA1 credit rating certifies that the company has superior ability to meet its financial obligations and project needs on time, the realtor said in a statement.

Up to May 2022, the company has handed over 390 projects in Dhaka and Chattogram.

"Currently, the company has 56 ongoing projects and 38 upcoming projects, which resonates a satisfactory financial stance, great reputation, very low risk of defaulting, and good business growth," the company said.

Credit scores are given by accredited institutions to rank companies based on their financial strengths in a particular industry.

It is a measure of how financially competent a company is to deliver its commitments on time. The ratings begin from D and ascend to A score.

A company with a rank in the D rating is termed to be at default, meaning it has defaulted on its loans from partner banks and financial institutions.

The rank progresses towards C and B ratings. The higher the rating, the more risk-free that company is, and the safer it is for investors to trust that company.

Any company with an A-rated product or service is considered highly credible, but there are ranks within the A-rating that further differentiate companies based on their ability to fulfill commitments within a certain time, their transparency, and their accountability.

Many realtor firms are registered as members of the Real Estate and Housing Association of Bangladesh (REHAB).

Part of the reason that customers face fraud from real estate companies is that customers are often unaware of their credibilities.

When companies are not registered under an agency and do not have high credit scores they pose a financial risk for customers.

For this reason, it is crucial for people to understand credit scores so that they can make risk-free investments and work with a company whose business practices are absolutely spotless. 

bti has been leading the real estate sector for 39 years, and was the first real estate company to achieve the AA3 credit rating.

Over time bti emerged as a company loved and trusted by more than 6000 customers with an AA2 credit rating.

The company has been awarded ISO certifications in superb design and construction quality multiple times, and also won the prestigious Super Samakal Award 2022 for Earthquake Preparedness and Disaster Prevention.

The International Code Council representative, S.K Ghosh Associates recently nominated bti as a third party certifier of structural design. CRAB has certified bti AA1 based on its well established track record, excellent payment behavior, and banking relations.

"With so many accomplishments bti is still relentlessly serving the real estate industry.

The AA1 credit score has further cemented its reputation as a genuinely committed company that strives to ensure projects are delivered to customers on time," according to the statement.

According to bti officials, the company is working more hard to gain a higher score, i.e. AAA rating and hopes to achieve it soon.