ICRA Nepal Upgrades G.I. Solar’s Rating to B, Risk Remains High

ICRA Nepal Limited has upgraded the issuer rating of G.I. Solar Limited from [ICRANP-IR] B- to [ICRANP-IR] B, indicating a slight improvement in the company’s credit profile. However, the rating still reflects a high risk of default in the timely servicing of financial obligations.

The rating represents a general opinion on the entity’s creditworthiness and is not specific to any debt instrument. Within the rating scale, a B+ is considered better than B, while B- is considered lower, highlighting the relative positioning.