ICRA Nepal Upgrades Jhapa Energy to ‘B+’ Rating from ‘B-’

ICRA Nepal Limited has upgraded the issuer rating of Jhapa Energy Limited (JEL) to [ICRANP-IR] B+ from its previous rating of B-, indicating a marginal improvement in the company’s credit profile.

Despite the upgrade, the rating still reflects a high risk of default in meeting financial obligations on time. ICRA Nepal clarified that the issuer rating represents a general opinion on creditworthiness and is not linked to any specific debt instrument.

The agency also noted that within the rating scale from AA to C, the “+” and “–” signs indicate relative positioning within a category, where B+ is one notch stronger than B, while B- is one notch weaker.