ICRA Nepal Revises Issuer Ratings: Upper Tamakoshi Downgraded to D, Vision Energy Upgraded to BB+

ICRA Nepal Limited has downgraded the issuer rating of Upper Tamakoshi Hydropower Limited from [ICRANP-IR] BB& (on Rating Watch with Developing Implications) to [ICRANP-IR] D, indicating that the company is in default or likely to default soon on its financial obligations. The rating reflects the entity’s overall creditworthiness and is not linked to any specific debt instrument.

Similarly, ICRA Nepal Limited has upgraded the issuer rating of Vision Energy and Power Limited from [ICRANP-IR] BB to [ICRANP-IR] BB+, indicating a moderate risk of default in meeting financial obligations. The rating reflects the company’s overall creditworthiness rather than any specific debt instrument. Within ICRA’s rating scale, BB+ is positioned one notch above BB, while BB- is one notch below.