ICRA Nepal reaffirms issuer rating assigned to Nepal Finance at ICRANP-IR C+; rating indicates very high risk of default regarding timely servicing of financial obligations

ICRA Nepal Limited has reaffirmed the issuer rating  assigned to Nepal Finance Limited at [ICRANP-IR] C+ and  moved to ‘Issuer not Cooperating’ (Pronounced as ICRA NP  Issuer Rating C plus Issuer Not Cooperating) with notice for  rating withdrawal. Issuers with this rating are considered to  have very high risk of default regarding timely servicing of  financial obligations.

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