ICRA Nepal Re-affirms Prabhu Mahalaxmi Life Insurance's BB+ Rating

ICRA Nepal Limited has re-affirmed Prabhu Mahalaxmi Life Insurance Limited's [ICRANP-IR] BB+ issuer rating and removed it from close watch with developing implications. This rating indicates a moderate risk of failing to meet financial obligations on time. It's a general creditworthiness opinion and not specific to bonds.

Within the [ICRANP-IR] rating category, positions range from [ICRANP-IR] AA to [ICRANP-IR] C, with a + or - sign indicating comparative positions. Thus, the Rating of [ICRANP-IR] BB+ is one level above [ICRANP-IR] BB, while [ICRANP-IR] BB- is one level below [ICRANPIR] BB.