Mega Cement Industries ratings withdrawan by Care Ratings Nepal

CARE   Ratings   Nepal   Limited   (CRNL)has  withdrawn  the  ratings  of  “CARE-NP   BB; ISSUER   NOT COOPERATING*” and “CARE-NP  A4; ISSUER NOT COOPERATING*” assigned  to  the  bank facilities  of Mega  Cement  Industries  Private  Limited  with immediate  effect.In  line  with  the  extant  Securities  Board  of Nepal  (SEBON)  guidelines,  CRNL  has  reviewed  the  rating  on  the  basis  of  the  best  available information and  kept the  rating  on  Notice  of  Withdrawal for  six  months which however, in CRNL’s opinion  is  not  sufficient  to  arrive  at  a  fair  rating.  Therefore,  after  the  monitoring of  the  rating  for  six months there is no cooperation from the Issuer, accordingly CRNL has withdrawn the ratings.

About the Company

Mega Cement Industries Private Limited (MCPL) is a private limited company, established in 2014, promoted by the individuals involved in cement industry and trading of hardware items, for setting up clinker grinding plant at Jhapa District of Nepal. The company is engaged in manufacturing and selling of cement with grinding capacity of 200 metric tons per day. 

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