ICRA Nepal Downgrades Ratings of Prabhu Bank, Shine Resunga and Lumbini Bikas Bank
Summary
ICRA Nepal Limited has downgraded the issuer ratings of Prabhu Bank, Shine Resunga Development Bank, and Lumbini Bikas Bank, indicating moderate risk of default in financial obligations.
Key Points
- ICRA Nepal downgraded Prabhu Bank's issuer rating from BBB- to BB+ and its debenture rating from LBBB- to LBB+.
- Shine Resunga Development Bank's issuer rating was downgraded from BB+ to BB and removed from watchlist.
- Lumbini Bikas Bank's issuer rating was downgraded from BB to BB- and removed from watchlist.
- All downgrades reflect a moderate risk of default in meeting financial obligations on time.
