ICRA Nepal Limited assigns ratings of Agriculture Development Bank and its Rs 1.68 arba worth debenture at ICRANP-IR A and ICRANP LA

ICRA Nepal Limited has placed  ratings of Agriculture  Development Bank Limited on ‘Watch with Negative  Implications’ as below:

The rating agency has  provided an Issuer Rating of ICRANP-IR A (placed on watch With Negative Implications) to the Subordinated Debenture worth NPR 1,684.505 million and rating of ICRANP LA (placed on watch with Negative Implications).

Issuers with rating of [ICRANP-IR] A and Instruments with Rating of [ICRANP] LA are considered to have adequate degree of safety regarding timely servicing of financial obligations. Such Issuers and instruments carry low credit risk.

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

**Debenture Rating is not a recommendation to buy, sell or hold securities nor it is a comment on the price or valuation of securities issued by company.

For the Rating categories AA through to 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 A+ is one notch higher than A, while A- is one notch lower than A.