ICRA Nepal Reaffirms Credit Ratings of Union Hydro Holdings and Siddhartha Premier Insurance

ICRA Nepal Limited has assigned [ICRANP-IR] B+ issuer rating to Union Hydro Holdings Company Limited, indicating a high risk of default in the timely servicing of financial obligations.

The rating reflects the general creditworthiness of the company and does not apply to any specific debt instrument. The ‘+’ or ‘–’ symbols indicate the relative position of an entity within its respective rating category.

ICRA Nepal Limited has reaffirmed Siddhartha Premier Insurance Limited's issuer rating at [ICRANP-IR] A and removed it from the 'Watch with Negative Implications' category.

The rating indicates that the company has an adequate capacity to meet its financial obligations on time and carries low credit risk.

ICRA clarified that the issuer rating reflects the company's overall creditworthiness rather than any specific debt instrument. It also noted that ratings within the same category may carry a plus (+) or minus (-) sign to indicate their relative standing.