ICRA Nepal places issuer rating ICRANP-IR BB+ to Shangri-la Bank indicating moderate risk of default regarding timely servicing of financial obligations

ICRA Nepal Limited has placed the issuer rating assigned to Shangri-la Bank Limited on 'Watch with Negative  Implications'; as indicated by [ICRANP-IR] BB+@* (Pronounced as ICRA NP issuer rating double B Plus @). Issuers with this rating are considered to have moderate risk of default regarding timely servicing of financial obligations.

* 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] BB+ is one notch higher than [ICRANP-IR] BB, while [ICRANP-IR] BB- is one notch lower than [ICRANP-IR] BB.