ICRA Nepal has retained the rating of Citizen and NIC Asia Bank bonds

Sharesansar, December 19:

ICRA Nepal has retained the rating of Citizen Bank International Limited (CZBIL) and NIC Asia Bank Limited (NICA) subordinated bonds worth Rs 500 million each.

ICRA Nepal has reaffirmed rating of [ICRANP] LA- (pronounced ICRA NP L A minus) to the subordinated
bonds of NRs 500 million of NIC Asia Bank Limited (NIC Asia). Instruments with [ICRANP] LA- Rating are
considered to have adequate degree of safety regarding timely servicing of financial obligations. Such
instruments carry low credit risk.
 
Also, ICRA Nepal has reaffirmed rating of [ICRANP] LBBB (pronounced ICRA NP L triple B) to
subordinated bonds of NRs 500 million of Citizens Bank International Limited (CBIL). Instruments
with [ICRANP] LBBB Rating are considered to have moderate degree of safety regarding timely
servicing of financial obligations. Such instruments carry moderate credit risk.