Four companies held by Keyal group receive rating for short term and long term bank facilities; facilities worth Rs.12.78 Arba graded

Tue, Mar 17, 2020 2:35 PM on Credit Rating, External Media, Latest, Others,
Four compa...

CARE Ratings Nepal Limited (CRNL) has assigned rating of “CARE-NP BB-” to the long term bank facilities worth NPR 1189.59 Million and “CARE-NP A4” to the short term bank facilities worth NPR 2806 Million of Narayani Ispat Private Limited (NIPL).

Narayani Ispat Private Limited (NIPL) is a private limited company incorporated on September 17, 2009 for manufacturing of TMT bars and other allied steel products at factory located in Simara, Nepal.

CARE Ratings Nepal Ltd. (CRNL) has assigned rating of “CARE-NP A4” to the short-term bank facilities worth NPR 2540 Million of Narayani Rolling Mills Private Limited (NRPL).

Narayani Rolling Mills Private Limited (NRPL) is a private limited company incorporated on May 15, 1992 which came into operation from 1995 for manufacturing TMT Bars, angles, and other allied products having plant in Chhatapipra, Bara, Nepal.

CARE Ratings Nepal Limited (CRNL) has assigned rating of “CARE-NP BB” to the long-term bank facilities worth NPR 143.21 Million and “CARE-NP A4” to the short-term bank facilities worth NPR 760.30 Million of Narayani Steels Private Limited (NSPL).

Narayani Steels Private Limited (NSPL) is a private limited company incorporated on April 30, 2004 for manufacturing of wires, nails and other allied steel products at factory located in Simara, Nepal.

CARE Ratings Nepal Ltd. (CRNL) has assigned rating of “CARE-NP BB-” to the long-term bank facilities worth NPR 831.68 Million and “CARE-NP A4” to the short-term bank facilities worth NPR 4516.21 Million of Narayani Strips Private Limited (NSPL).

Narayani Strips Private Limited (NSPL) is a private limited company incorporated on April 13, 2015 for manufacturing Pipes, Sheets, Slits, Ridge, Chequer Plate, having plant in Chhatapipra, Bara, Nepal.

All the companies are a part of the Keyal group of companies of Nepal and all the shares of the companies are held by individual promoters from Keyal group. Long term and short term bank facilities worth a total of Rs.12.78 Arba have been graded by CRNL for the companies held by Keyal group.

Source: Care Ratings Nepal