ICRA Nepal Upgrades Makari Gad Hydropower’s Rating to BB+, Assigns B+ Rating to Budhanilkantha Heritage

ICRA Nepal Limited has upgraded the issuer rating of Makari Gad Hydropower Limited (MGHL) from [ICRANP-IR] B+ to at [ICRANP-IR] BB+, indicating a moderate risk of default regarding timely servicing of financial obligations.

The rating reflects the company’s overall creditworthiness and is not linked to any specific debt instrument. The “+” signifies that the rating is one notch higher than BB within the BB category.

ICRA Nepal Limited has assigned [ICRANP-IR] B+ issuer rating to Budhanilkantha Heritage Limited (BHHL), indicating a high risk of default in the timely servicing of financial obligations.

The rating reflects the general creditworthiness of the company and does not apply to any specific debt instrument. The ‘+’ or ‘–’ symbols indicate the relative position of an entity within its respective rating category.