ICRA Nepal reaffirms ICRANP LBBB+Rating to Rs 50 crore worth Subordinated Bond Programme of Citizens Bank International

ICRA Nepal Limited has reaffirmed a [ICRANP] LBBB+ (Pronounced as ICRA NP L Triple B Plus) Rating to the Rs 50crore worth Subordinated Bond Programme of Citizens Bank International Limited. Instruments with this rating are considered to have moderate degree of safety regarding timely servicing of financial obligation. Such instruments carry moderate credit risk.

Note: +/- signs indicates their relative position within the Rating category concerned by one notch higher/lower.

Meanwhile, the credit rating agency has reaffirmed a [ICRANP-IR] BBB+ (Pronounced as ICRA NP Issuer Rating Triple B Plus) Issuer Rating of Citizens Bank International Limited. This is the moderate-credit-quality Rating assigned by ICRA Nepal. The rated entity carries higher than average credit risk. 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.