ICRA Nepal Revises Ratings: Everest Bank on Withdrawal Notice, Agriculture Development Bank Upgraded, Swarojgar Laghubitta Downgraded

ICRA Nepal Limited has put Everest Bank Limited’s outstanding rating of [ICRANP-IR] AA- on notice for withdrawal. The rating reflects the general creditworthiness of the bank, not any specific debt instrument.

Similarly, ICRA Nepal Limited has upgraded and withdrawn the issuer rating of Agriculture Development Bank Limited from [ICRANP-IR] A to A+. Additionally, the bank’s NPR 2,500 million subordinated debenture rating was upgraded to [ICRANP] LA+ and placed on notice for withdrawal. Both ratings indicate a low credit risk and adequate safety regarding timely financial obligations. The ratings reflect general creditworthiness and are not specific investment recommendations.

Also, ICRA Nepal Limited has downgraded Swarojgar Laghubitta Bittiya Sanstha Limited’s issuer rating from [ICRANP-IR] BB- to [ICRANP-IR] B+ and moved it to the “Issuer Not Cooperating” category with a notice of rating withdrawal. This rating indicates a high risk of default in timely financial obligations. The rating reflects general creditworthiness, not any specific debt instrument.