ICRA Nepal Limited Downgrades Citizens Bank, Assigns A+ Rating to Nepal Tea Development Corporation
Summary
ICRA Nepal Limited downgraded Citizens Bank International Limited's ratings from BBB+ to BBB and assigned an A+ issuer rating to Nepal Tea Development Corporation Limited.
Key Points
- ICRA Nepal Limited downgraded Citizens Bank International Limited's issuer rating from BBB+ to BBB.
- The subordinated debenture rating of Citizens Bank was reduced from LBBB+ to LBBB.
- ICRA Nepal removed Citizens Bank from the 'Watch with Negative Implications' list.
- Nepal Tea Development Corporation Limited received an issuer rating of A+, indicating adequate safety in meeting financial obligations.
