ICRA Nepal assigns ICRA Grade 4+ indicating below average fundamentals to upcoming right issue of Nepal Insurance

ICRA Nepal has assigned (ICRANP) IPO Grade4+ to the Rs 30.19 crore Rights issue of Nepal Insurance Company Limited (NICL). Instruments with this grading are considered to have below average fundamentals. ICRA Nepal assigns grading on a scale of Grade 1 through Grade 5, with Grade 1 indicating strong fundamentals and Grade 5 indicating poor fundamentals. For the Grading categories 2, 3 and 4, the sign of + (plus) indicates their relative position within Grading categories concerned. As mentioned in the press release, IPO Grade is not a recommendation to buy, sell or hold securities nor it is a comment on the price or valuation of securities.