ICRA Nepal Reaffirms Ratings for Two Hydropower Firms, Withdraws Ratings for Three Companies

ICRA Nepal has reaffirmed Dordi Khola Jal Bidyut Company Limited’s issuer rating at [ICRANP-IR] BB-, indicating a moderate risk of default in meeting financial obligations on time. The rating reflects the company’s overall creditworthiness and does not apply to any specific debt instrument. The “–” sign indicates that the rating is one notch below the standard BB category.

Similarly, ICRA Nepal has assigned Hiraratna Hydropower Limited an issuer rating of [ICRANP-IR] BB-, indicating a moderate risk of default in timely servicing of its financial obligations. The rating reflects the company’s overall creditworthiness and is not linked to any specific debt instrument. The “–” sign places the rating one notch below the standard BB category.

Also, ICRA Nepal has withdrawn the [ICRANP-IR] B- ‘Issuer Not Cooperating’ rating assigned to Kantipur Television Network Limited (KTV). The rating was an assessment of the company’s overall creditworthiness and did not relate to any specific debt instrument.

Also, ICRA Nepal has withdrawn the [ICRANP-IR] BB- ‘Issuer Not Cooperating’ rating of Khoranga Hydropower Limited. The rating represented an assessment of the company’s overall creditworthiness and was not specific to any particular debt instrument.

And, ICRA Nepal upgraded Mandu Hydropower Limited’s issuer rating from [ICRANP-IR] BB+ to [ICRANP-IR] BBB-, removing it from ‘Watch with Developing Implications’. However, following the company’s request to withdraw the rating, ICRA Nepal subsequently withdrew the assigned issuer rating. The rating reflected the company’s overall creditworthiness and was not specific to any particular debt instrument.