ICRA Nepal downgrades issuer rating assigned to Mirmire Laghubitta to ICRANP-IR BB-; rating indicates moderate risk of default regarding timely servicing of financial obligations

ICRA Nepal Limited has downgraded and revised the issuer rating assigned to Mirmire Laghubitta Bittiya Sanstha Limited  to [ICRANP-IR] BB- ‘Issuer not Cooperating’ (Pronounced  as ICRA NP Issuer Rating Double B Minus) from [ICRANP-IR] BB with notice for rating withdrawal. Issuers with this rating are considered to have moderate risk of default regarding the timely servicing of financial obligations.

The Rating is only an opinion on the general creditworthiness of the rated entity and not specific to any particular debt instrument.

For the Rating categories [ICRANP-IR] AA through to [ICRANP-IR] C the sign of + (plus) or – (minus) may be appended to the Rating symbols to indicate their relative position within the Rating categories concerned. Thus, the Rating of [ICRANP-IR] BB+ is one notch higher than [ICRANP-IR] BB, while [ICRANP-IR] BB- is one notch lower than [ICRANP-IR] BB.