ICRA Nepal Reaffirms Ratings for Three Hydropower Firms

ICRA Nepal has reaffirmed Gaurishankhar Power Development Limited’s issuer rating at [ICRANP-IR] BB-, indicating a moderate risk of default in meeting financial obligations on time. The rating reflects the company’s overall creditworthiness and does not apply to any specific debt instrument. The “–” sign indicates that the rating is one notch below the standard BB category.

Similarly, ICRA Nepal has assigned Bhujung Hydropower Limited an issuer rating of [ICRANP-IR] BB-, indicating a moderate risk of default in timely servicing of its financial obligations. The rating reflects the company’s overall creditworthiness and is not linked to any specific debt instrument. The “–” sign places the rating one notch below the standard BB category.

Also, ICRA Nepal Limited has reaffirmed the issuer rating of Solu Hydropower Limited at [ICRANP-IR] BBB- (pronounced "ICRA NP Issuer Rating Triple B Minus"), while continuing to keep the Hydropower on "Watch with Negative Implication."

The BBB- rating indicates a moderate degree of safety regarding timely servicing of financial obligations, meaning the company carries moderate credit risk but remains capable of meeting its financial commitments.