ICRA Nepal places Issuer Rating of Garima Bikas Bank on watch with negative implications; revised rating ICRANP-IR BBB- indicates moderate credit risk

ICRA Nepal Limited has placed the Issuer Rating of Garima Bikas Bank Limited on watch with negative implications; revised rating is [ICRANP-IR] BBB-@ (pronounced as ICRA NP Issuer Rating Triple B minus). Issuers with this rating are considered to have a moderate degree of safety regarding timely servicing of financial obligations. Such issuers carry moderate credit risk. ‘@’ denotes rating on “watch with negative implication”

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.