ICRA Nepal reaffirms rating of [ICRANP-IR] B+  to Him Star Urja, downgrades ratings of Prabhu Bank

KATHMANDU, FEBRUARY 27: ICRA Nepal Limited has today reaffirmed an issuer rating of [ICRANP-IR] B+  to Him Star Urja Company Limited. Issuers with this rating are considered to have a high risk of default regarding the timely servicing of financial obligations.

Similarly, the company has downgraded the ratings assigned to Prabhu Bank Limited with the continuation of ‘Watch with Negative Implications.’ Issuers with a rating of [ICRANP-IR] BBB- and Instruments with a Rating of [ICRANP] LBBB- are considered to have a moderate degree of safety regarding timely servicing of financial obligations. Such issuers carry moderate credit risk.

The Rating is only an opinion on the general creditworthiness of the rated entity and not specific to any particular debt instrument, according to the company.  It is also stated Debenture Rating is not a recommendation to buy, sell or hold securities nor it is a comment on the price or valuation of securities issued by company.