Mega Cement Industries ratings withdrawan by Care Ratings Nepal
Tue, Jun 23, 2020 4:10 PM on Credit Rating, Latest,
CARE Ratings Nepal Limited (CRNL)has withdrawn the ratings of “CARE-NP BB; ISSUER NOT COOPERATING*” and “CARE-NP A4; ISSUER NOT COOPERATING*” assigned to the bank facilities of Mega Cement Industries Private Limited with immediate effect.In line with the extant Securities Board of Nepal (SEBON) guidelines, CRNL has reviewed the rating on the basis of the best available information and kept the rating on Notice of Withdrawal for six months which however, in CRNL’s opinion is not sufficient to arrive at a fair rating. Therefore, after the monitoring of the rating for six months there is no cooperation from the Issuer, accordingly CRNL has withdrawn the ratings.
About the Company
Mega Cement Industries Private Limited (MCPL) is a private limited company, established in 2014, promoted by the individuals involved in cement industry and trading of hardware items, for setting up clinker grinding plant at Jhapa District of Nepal. The company is engaged in manufacturing and selling of cement with grinding capacity of 200 metric tons per day.
