ICRA Nepal Downgrades Chirkhwa Hydro Power Limited's Credit Rating

ICRA Nepal Limited has announced a significant downgrade in the credit rating of Chirkhwa Hydro Power Limited (CKHL), shifting it from [ICRANP-IR] BB- to [ICRANP-IR] D. This new rating indicates that CKHL has failed to meet its financial obligations on time or is expected to do so shortly.

ICRA Nepal's downgrade reflects concerns about CKHL's ability to fulfill its financial commitments. It is important to note that this rating is a general assessment of the issuer's creditworthiness and does not specifically evaluate any individual bonds issued by CKHL.

Organizations with a [ICRANP-IR] D rating are considered to be in significant financial distress, making it crucial for investors and stakeholders to closely monitor the company's financial health and future developments.