ICRA Nepal Upgrades Unitech Hydropower and Kumari Bank’s Issuer Ratings

ICRA Nepal Limited has upgraded the issuer rating of Unitech Hydropower Company Limited to [ICRANP-IR] B+ from [ICRANP-IR] B. Issuers with this rating are considered to have a high risk of default regarding timely servicing of financial obligations.

The agency noted that the rating reflects overall creditworthiness rather than any specific debt instrument, with plus (+) and minus (–) signs used to show relative positioning within rating categories.

ICRA Nepal Limited has upgraded Kumari Bank Limited’s issuer rating to [ICRANP-IR] BBB- from BB+ and its NPR 6 billion subordinated debenture rating to [ICRANP] LBBB- from LBB+.

The upgraded ratings indicate a moderate degree of safety in servicing financial obligations, with a moderate level of credit risk.