ICRA Nepal Updates Issuer Ratings: Withdrawals, Downgrades, and Reaffirmations Across Financial Institutions

ICRA Nepal Limited has withdrawn the issuer rating of [ICRANP-IR] BB- (Rating Watch with Negative Implications) previously assigned to Samata Gharelu Laghubitta Bittiya Sanstha Limited. The rating reflected the general creditworthiness of the institution and was not linked to any specific debt instrument.

Similarly, ICRA Nepal Limited has downgraded and withdrawn the issuer rating of Jyoti Bikas Bank Limited, moving it out of the ‘Watch with Negative Implications’ category. The rating has been revised from [ICRANP-IR] BB-@ to [ICRANP-IR] B+, indicating a high risk of default in timely financial obligations. The rating reflects the bank’s general creditworthiness and is not linked to any specific debt instrument.

Also, ICRA Nepal Limited has reaffirmed the issuer rating of [ICRANP-IR] BB+ for Alpha Capital Limited, indicating a moderate risk of default in timely financial obligations. The rating reflects the general creditworthiness of the entity and not any specific debt instrument. The “+” and “–” symbols show relative positions within a rating category, with BB+ being one notch higher than BB.

And, ICRA Nepal Limited has removed United Ajod Insurance Limited’s issuer rating of [ICRANP-IR] BBB+ from ‘Watch with Negative Implications’. This rating indicates a moderate degree of safety in meeting financial obligations and carries moderate credit risk. The rating reflects the entity’s general creditworthiness and not any specific debt instrument. The “+” or “–” symbols denote relative positions within a rating category.