ICRA Nepal upgrades issuer rating of Laxmi Bank; reaffirms Triple B plus rating to bond of Bank of Kathmandu

ICRA Nepal Limited has upgraded the Issuer Rating of Laxmi Bank Limited from [ICRANP-IR] BBB (Pronounced as ICRA NP IR Triple B) to [ICRANP-IR] BBB+ (Pronounced as ICRA NP IR Triple B Plus).

This is the moderate-credit-quality Rating assigned by ICRA Nepal. The rated entity carries higher than average credit risk. Issuer Rating BBB+ is one notch higher than BBB. The Rating is only an opinion on the general creditworthiness of the rated entity and not specific to any particular debt instrument.

ICRA Nepal Limited has reaffirmed a [ICRANP] LBBB+ (Pronounced as ICRA NP L Triple B Plus) Rating to the Rs. 600 Million Subordinated Bond Program of Bank of Kathmandu Limited.

Instruments with this rating are considered to have moderate degree of safety regarding timely servicing of financial obligation. Such instruments carry moderate credit risk.