ICRA Nepal Unleashes Rating Shake-Up: Nabil and Nepal Bank Downgraded, Chilime Reaffirmed

ICRA Nepal has downgraded Nabil Bank Limited’s issuer and subordinated debenture ratings while continuing its placement under ‘Watch with Negative Implications.’ The issuer rating was downgraded from [ICRANP-IR] A+@ to [ICRANP-IR] A@, and both NPR 2 billion subordinated debentures were downgraded from [ICRANP] LA+@ to [ICRANP] LA@. Despite the downgrade, the ratings still indicate an adequate level of safety and low credit risk. These ratings reflect general creditworthiness and are not investment recommendations.

Similarly, ICRA Nepal has placed Nepal Bank Limited’s issuer rating of [ICRANP-IR] A@ under ‘Watch with Negative Implications.’ This rating reflects an adequate level of safety and low credit risk in meeting financial obligations. However, the negative watch indicates potential concerns. The rating represents overall creditworthiness and is not linked to any specific debt instrument.

Also, ICRA Nepal has reaffirmed the issuer rating of [ICRANP-IR] BBB for Chilime Engineering and Services Limited, indicating a moderate level of safety in meeting financial obligations and moderate credit risk. The rating reflects the company's general creditworthiness and is not linked to any specific debt instrument.