ICRA Nepal Limited has issued updates on the issuer ratings of several companies, reflecting their financial performance, cooperation levels, and risk profiles.
Key Updates:
- Kutheli Bukhari Small Hydropower Limited
- Action: Rating Withdrawal
- Details: The previously assigned BB+ issuer rating was withdrawn due to the company’s lack of cooperation, preventing ICRA Nepal from accessing necessary information.
- BB+ Rating Explanation: This represents moderate credit risk based on prior financial and operational evaluations.
- Chhyangdi Hydropower Company Limited (CHL)
- Action: Rating Upgraded
- New Rating: [ICRANP-IR] B- (upgraded from [ICRANP-IR] D)
- Details: The upgrade reflects a reduced, though still high, risk of defaulting on financial obligations. [ICRANP-IR] B- is one level below [ICRANP-IR] B.
- Jeevan Bikas Laghubitta Bittiya Sanstha Limited (JBLB)
- Action: Rating Downgraded
- New Rating: [ICRANP-IR] BB@ (from [ICRANP-IR] BB+@)
- Details: Indicates a moderate risk of financial default. The ‘@’ symbol denotes continued adverse monitoring.
- Upakar Laghubitta Bittiya Sanstha Limited (ULBSL)
- Action: Rating Downgraded and Notice for Withdrawal
- New Rating: [ICRANP-IR] B+@
- Details: Reflects a high risk of failing to meet obligations. The ‘@’ indicates adverse effects under micro-monitoring.
- Unnati Sahakarya Laghubitta Bittiya Sanstha Limited (USLB)
- Action: Rating Downgraded and Notice for Withdrawal
- New Rating: [ICRANP-IR] B@
- Details: Indicates high default risk, with ‘@’ symbolizing monitoring under adverse conditions.
- Samudayik Laghubitta Bittiya Sanstha Limited (SLBSL)
- Action: Rating Downgraded and Notice for Withdrawal
- New Rating: [ICRANP-IR] B@
- Details: Similar to USLB, this rating highlights high financial risk under adverse conditions.
- Myagdi Hydropower Limited
- Action: Rating Assigned
- New Rating: [ICRANP-IR] BB-
- Details: Indicates a moderate risk of default. Positioned below [ICRANP-IR] BB but above [ICRANP-IR] B+.
Conclusion:
These updates highlight the varying credit risk levels across companies based on their financial health and cooperation with ICRA Nepal. The ratings provide insights into their creditworthiness but are not specific to any bond or financial instrument.