ICRA Nepal Downgrades Chhyangdi Hydropower Company Limited to [ICRANP-IR] D

ICRA Nepal Limited has downgraded the issuer rating of Chhyangdi Hydropower Company Limited from [ICRANP-IR] B to [ICRANP-IR] D. This downgrade indicates that the organization has either failed to meet its financial obligations on time or is anticipated to do so soon.

The [ICRANP-IR] D rating reflects a severe credit risk, suggesting significant financial distress within the company. It is important to note that this rating represents ICRA Nepal’s general assessment of the issuer’s creditworthiness and does not pertain to any specific bonds issued by the company.

The downgrade underscores concerns about the company’s ability to fulfill its financial commitments, marking a notable shift in its financial stability outlook.