ICRA Nepal assigns ICRA Grade 5 indicating poor fundamentals to upcoming right issue of Synergy Finance

ICRA Nepal has assigned ICRANP IPO Grade 5 to the 11.86 crore Rights issue of Synergy Finance Limited (SYFL). Instruments with this grading are considered to have poor 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.