ICRA Nepal Upgrades Mahalaxmi Bikas Bank’s Issuer Rating to BB

ICRA Nepal Limited has reaffirmed Mahalaxmi Bikas Bank Limited (MLBL) issuer rating at [ICRANP-IR] BB, indicating a moderate risk of default in meeting financial obligations.

The upgraded rating indicates that the company carries a moderate risk of default in meeting its financial obligations on time. ICRA clarified that the issuer rating reflects the overall credit worthiness of the company and is not assigned to any specific debt instrument.

The agency also noted that rating symbols may include a “+” or “–” sign to show relative strength within a category, where BB+ is one notch higher and BB- is one notch lower than BB.