ICRA Nepal assigns ICRANP IPO Grade 5 to Rs 35.85 crore worth Rights shares of Multipurpose Finance Company; issuance failed to get warm signal from rating agency indicating to be fundamentally poor
Wed, Dec 12, 2018 6:37 AM on Credit Rating, Dividend, Bonus & Rights, Latest, Stock Market,
ICRA Nepal Limited has assigned a [ICRANP] IPO Grade 5 (Pronounced as ICRA NP IPO Grade Five) to the Rs 35.85 crore Rights Issue of Multipurpose Finance Company Ltd. 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 better position within the Grading categories concerned.
IPO Grade is not a recommendation to buy, sell or hold securities nor it is a comment on the price or valuation of securities.
