ICRA Nepal Updates Issuer Ratings: Doodhpokhari Chepe and Peoples Energy Moderate, Laughing Buddha Power Downgraded

ICRA Nepal Limited has assigned a [ICRANP-IR] BB issuer rating to Doodhpokhari Chepe Hydropower Limited, indicating a moderate risk of default in meeting financial obligations. The rating reflects the general creditworthiness of the company and is not linked to any specific debt instrument. Ratings may include a “+” or “–” to indicate relative position within the category, with BB+ being higher and BB– lower than BB.

Similarly, ICRA Nepal Limited has reaffirmed the issuer rating of Peoples Energy Limited at [ICRANP-IR] BB-, indicating a moderate risk of default in meeting financial obligations. The rating reflects the company’s general creditworthiness and is not tied to any specific debt instrument. Ratings may include a “+” or “–” to show relative standing within the category, with BB+ higher and BB- lower than BB.

Also, ICRA Nepal Limited has downgraded Laughing Buddha Power Nepal Limited’s issuer rating from [ICRANP-IR] C+ to [ICRANP-IR] D ‘Issuer Not Cooperating’, indicating that the company is in default or likely to default soon. The rating reflects the general creditworthiness of the company and is not linked to any specific debt instrument. It has also been placed on notice for withdrawal.