ICRA Nepal Limited Downgrades Citizens Bank, Assigns A+ Rating to Nepal Tea Development Corporation

ICRA Nepal Limited has downgraded the ratings of Citizens Bank International Limited and removed them from “Watch with Negative Implications.” The bank’s issuer rating was lowered from BBB+ to BBB, while its NPR 2.5 billion subordinated debenture rating was reduced from LBBB+ to LBBB. These ratings indicate a moderate level of safety in meeting financial obligations and reflect moderate credit risk. The agency also clarified that ratings represent overall creditworthiness and are not recommendations to buy, sell, or hold securities, with plus (+) or minus (–) signs indicating relative standing within rating categories.

Similarly, ICRA Nepal Limited has assigned an issuer rating of [ICRANP-IR] A+ to Nepal Tea Development Corporation Limited, indicating an adequate level of safety in meeting financial obligations. The agency clarified that the rating reflects overall creditworthiness rather than any specific debt instrument, with plus (+) and minus (–) signs denoting relative positions within rating categories.