ICRA Nepal Maintains Maruti Cements at BBB, Upgrades Pashupati Renewables to BB

ICRA Nepal has reaffirmed Maruti Cements Limited’s issuer rating at [ICRANP-IR] BBB, while maintaining a “watch with negative implications” outlook. This rating indicates a moderate level of safety in meeting financial obligations. The agency clarified that the rating reflects overall creditworthiness, not any specific debt instrument, and noted that plus (+) or minus (–) signs denote relative positioning within the same rating category.

Similarly, ICRA Nepal Limited has upgraded the issuer rating of Pashupati Renewables Limited from [ICRANP-IR] BB- to [ICRANP-IR] BB, indicating a moderate risk of default in meeting financial obligations. The agency stated that the rating reflects overall creditworthiness and not any specific debt instrument, with plus (+) and minus (–) signs denoting relative positions within rating categories.