ICRA Nepal Upgrades Ratings of Three Hydropower Firms, Signals Gradual Credit Improvement
Summary
ICRA Nepal Limited has upgraded the issuer ratings of Myagdi Hydropower Limited, Khani Khola Hydropower Company Limited, and Chhyangdi Hydropower Limited, signaling an overall improvement in their credit profiles.
Key Points
- ICRA Nepal upgraded the issuer rating of Myagdi Hydropower Limited to B from D, indicating improved credit profile but still high default risk.
- Khani Khola Hydropower Company Limited's rating was upgraded to B+ from B and removed from watch status, reflecting some credit improvement but still high default risk.
- Chhyangdi Hydropower Limited's rating improved to BB- from B-, indicating moderate default risk and better creditworthiness.
- The ratings reflect overall creditworthiness of these companies, not specific debt instruments, using ICRA Nepal's rating scale.
