ICRA Nepal Reaffirms Ratings of NMB and Siddhartha Banks with Diverging Outlooks
Summary
ICRA Nepal has reaffirmed credit ratings of NMB Bank Limited and Siddhartha Bank Limited with differing outlooks, indicating adequate to moderate creditworthiness.
Key Points
- ICRA Nepal reaffirmed NMB Bank Limited's issuer rating at A- with a 'Watch with Negative Implications' status.
- NMB Bank's subordinated debenture rating was reaffirmed at LA- with a similar negative watch.
- Siddhartha Bank Limited's issuer rating was reaffirmed at BBB+, removing the negative watch status.
- One of Siddhartha Bank's debenture ratings was withdrawn by ICRA Nepal.
