ICRA Nepal downgrades Issuer Rating of Sarbottam Cement to ICRANP-IR BBB indicating moderate degree of safety regarding timely servicing of financial obligations

ICRA Nepal Limited has downgraded the Issuer Rating of Sarbottam Cement Limited to [ICRANP-IR] BBB@*  (Pronounced as ICRA NP Issuer Rating Triple B) from [ICRANP-IR] BBB+ (Pronounced as ICRA NP Issuer  Rating Triple B Plus) and this rating has also been placed on  'Watch with Negative Implications'. Issuers with this rating are considered to have moderate degree of safety regarding timely servicing of financial obligations. Such instruments carry moderate credit risk.

* The symbol ‘@’ Indicates Rating Watch with Negative Implications. 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] BBB+ is one notch higher than [ICRANP-IR] BBB, while [ICRANP-IR] BBB- is one notch lower than [ICRANP-IR] BBB.