ICRA Nepal Upgrades and Affirms Ratings for Hydropower Companies

ICRA Nepal Limited has upgraded Radhi Bidyut Company Limited's rating from [ICRANP-IR] BB+ to [ICRANP-IR] BBB-, signaling moderate security in fulfilling financial obligations with medium credit risk. The rating reflects the issuer's general creditworthiness, not a specific debt instrument. Ratings range from [ICRANP-IR] AA to [ICRANP-IR] C, with '+' or '-' signs indicating relative positions within the class.

ICRA has reaffirmed Apex Makalu Hydropower Limited's [ICRANP-IR] BB- rating, indicating medium risk in meeting financial obligations.

Mid Solu Hydropower Limited's rating has been upgraded from [ICRANP-IR] BB+ to [ICRANP-IR] BBB-, suggesting moderate security with medium credit risk.

The rating for Gaurishankar Power Development Limited remains at [ICRANP-IR] BB-, reflecting medium risk in fulfilling financial obligations.

Sanigad Hydro Limited’s rating has been upgraded from [ICRANP-IR] B to [ICRANP-IR] B+, indicating high risk in meeting financial obligations.