ICRA Nepal upgrades Issuer Rating of Chandragiri Hills from ICRANP-IR BB to ICRANP-IR BB+

ICRA Nepal Limited has upgraded the Issuer Rating of Chandragiri Hills Limited from [ICRANP-IR] BB to [ICRANP-IR] BB+ (Pronounced as ICRA NP IR Double B Plus). Issuers with this rating are considered to have a moderate risk of default regarding the timely servicing of financial obligations.

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