ICRA Nepal Withdraws and Adjusts Issuer Ratings Across Multiple Companies

ICRA Nepal Limited has officially withdrawn the BB+ issuer rating previously assigned to Kutheli Bukhari Small Hydropower Limited. The decision was made due to the company’s lack of cooperation with ICRA Nepal, preventing the rating agency from obtaining the necessary information to maintain the rating.

The BB+ rating, which reflects an entity's moderate credit risk, was initially provided to Kutheli Bukhari Small Hydropower Limited based on its financial and operational standing at the time of the rating assessment.

Similarly, ICRA Nepal Limited has upgraded the issuer rating of Chhyangdi Hydropower Company Limited (CHL) to [ICRANP-IR] B- from [ICRANP-IR] D. This indicates a reduced, but still high, risk of failing to meet financial obligations.

The rating reflects the issuer's overall creditworthiness and not specific bonds. Within the rating scale, [ICRANP-IR] B- is one notch below [ICRANP-IR] B, highlighting its relative position in the rating category.

Also, ICRA Nepal Limited has downgraded the issuer rating of Jeevan Bikas Laghubitta Bittiya Sanstha Limited (JBLB) from [ICRANP-IR] BB+@ to [ICRANP-IR] BB@* with continued micro-monitoring due to adverse effects.

This rating indicates a moderate risk of failing to meet financial obligations. The '@' denotes subtle monitoring with adverse effects, and the rating reflects general creditworthiness, not specific bonds. In the rating scale, [ICRANP-IR] BB+ is one notch above [ICRANP-IR] BB, while [ICRANP-IR] BB- is one notch below.

ICRA Nepal Limited has downgraded the rating of Upakar Laghubitta Bittiya Sanstha Limited (ULBSL) to [ICRANP-IR] B+@ and issued a notice for rating withdrawal under the 'Issuer not cooperating' category.

This rating indicates a high risk of failing to meet financial obligations on time. The '@' symbol denotes subtle monitoring with adverse effects. The rating reflects general creditworthiness and not specific bonds, with [ICRANP-IR] B+ positioned one notch above [ICRANP-IR] B and one notch below [ICRANP-IR] B-.

And, ICRA Nepal Limited has downgraded the rating of Unnati Sahakarya Laghubitta Bittiya Sanstha Limited (USLB) to [ICRANP-IR] B@ and issued a notice for rating withdrawal under the 'Issuer not cooperating' category.

This rating indicates a high risk of failing to meet financial obligations on time. The '@' symbol signifies micro-surveillance with adverse effects. The rating reflects general creditworthiness, with [ICRANP-IR] B+ positioned one level above [ICRANP-IR] B and [ICRANP-IR] B- positioned one level below.

ICRA Nepal Limited has downgraded the rating of Samudayik Laghubitta Bittiya Sanstha Limited (SLBSL) to [ICRANP-IR] B@ and placed it in the 'Issuer not cooperating' category, with a notice for rating withdrawal.

This rating signifies a high risk of failing to meet financial obligations on time, with '@' indicating micro-monitoring with adverse effects. The rating reflects general creditworthiness, with [ICRANP-IR] B+ positioned one level above [ICRANP-IR] B and [ICRANP-IR] B- positioned one level below.

ICRA Nepal Limited has assigned a [ICRANP-IR] BB- issuer rating to Myagdi Hydropower Limited, indicating a moderate risk of failing to meet financial obligations on time.

The rating reflects general creditworthiness, with [ICRANP-IR] BB- positioned one level below [ICRANP-IR] BB and one level above [ICRANP-IR] B+. It is not an opinion on any specific bond.