ICRA Nepal Assigns BBB Rating to Norvic Hospital, Upgrades Shreenagar Agritech to BB-

ICRA Nepal Limited has assigned an issuer rating of [ICRANP-IR] BBB to Norvic International Hospital and Medical College Ltd., indicating a moderate level of safety in meeting its financial obligations on time. The rating reflects the hospital’s overall creditworthiness and does not apply to any specific debt instrument. ICRA Nepal also clarified that ratings from AA to C may carry plus (+) or minus (–) signs to show relative strength within the same category, with BBB+ being stronger and BBB– being weaker than BBB.

Also, ICRA Nepal Limited has upgraded the issuer rating of Shreenagar Agritech Industries Limited to [ICRANP-IR] BB- from [ICRANP-IR] B, reflecting an improvement in the company’s overall credit profile. The BB- rating indicates a moderate risk of default in meeting financial obligations on time and represents ICRA Nepal’s opinion on the issuer’s general creditworthiness, not any specific debt instrument. The agency also noted that plus (+) or minus (–) signs may be used within rating categories to show relative strength, with BB+ being higher and BB– lower than BB.