ICRA Nepal Downgrades Jhapa Energy, Upgrades Prabhu Mahalaxmi Life Insurance in Latest Rating Review

ICRA Nepal Limited has downgraded the issuer rating of Jhapa Energy Limited from [ICRANP-IR] BB- to [ICRANP-IR] B-, indicating a higher risk of default in meeting financial obligations. This rating reflects a lower creditworthiness of the company but is not specific to any particular debt instrument. In ICRA's rating scale, a minus sign signifies a lower position within the respective category.

Similarly, ICRA Nepal Limited has upgraded the issuer rating of Prabhu Mahalaxmi Life Insurance Limited from [ICRANP-IR] BB+ to [ICRANP-IR] BBB-, indicating improved creditworthiness. The new rating suggests a moderate degree of safety in meeting financial obligations. This rating reflects the general credit profile of the company and does not pertain to any specific debt instrument.