ICRA Nepal downgrades rating of Emerging Nepal Limited to ICRANP-IR BB indicating Issuer not cooperating category with notice for rating withdrawal

ICRA Nepal Limited has downgraded the rating of Emerging Nepal Limited to [ICRANP-IR] BB (pronounced as ICRA NP Issuer Double B) and moved the rating to ‘Issuer not cooperating’ category with notice for rating withdrawal. Issuers with this rating are considered to have a moderate risk of default regarding 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. These 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.