ICRA Nepal Issues Crucial BB Rating to Elevation Energy, Withdraws Synergy Power Rating

ICRA Nepal has assigned a rating of [ICRANP-IR] BB to Elevation Energy Management Limited, indicating a moderate risk of default in meeting financial obligations on time.

This rating reflects the company's general creditworthiness and is not tied to any specific debt instrument. Within this rating scale, symbols like "+" or "–" may be added to show relative standing; for example, BB+ is stronger than BB, while BB– is weaker.

Similarly, ICRA Nepal has withdrawn the [ICRANP-IR] BB “Issuer Not Cooperating” rating assigned to Synergy Power Development Limited due to the company's failure to provide necessary information for the rating process.