ICRA Nepal Reaffirms Credit Ratings of Sagarmatha Lumbini Insurance and Elevation Energy

ICRA Nepal Limited has reaffirmed the [ICRANP-IR] A issuer rating of Sagarmatha Lumbini Insurance Company Limited and removed it from 'Watch with Negative Implications.' The A rating indicates that the company has an adequate capacity to meet its financial obligations on time and carries low credit risk, reflecting improved confidence in its overall creditworthiness.

Similarly, ICRA Nepal Limited has reaffirmed the [ICRANP-IR] BB issuer rating of Elevation Energy Management Limited, indicating that the company carries a moderate risk of default in meeting its financial obligations on time. The rating reflects the company's overall creditworthiness and is not linked to any specific debt instrument.