ICRA Nepal Downgrades Ratings of Shangrila Development Bank , Rates Palpa Cement Industries at BB
Summary
ICRA Nepal assigned a BB issuer rating to Palpa Cement Industries Limited and downgraded Shangrila Development Bank Limited’s rating to BB-.
Key Points
- ICRA Nepal assigned an issuer rating of BB to Palpa Cement Industries Limited indicating moderate default risk.
- Palpa Cement Industries’ long-term loan rating reaffirmed at LBB and short-term loan at A4+ by ICRA Nepal.
- Shangrila Development Bank Limited's issuer rating downgraded to BB- from BB@ by ICRA Nepal.
- The watch with negative implications on Shangrila Development Bank's rating has been removed.
