ICRA Nepal Downgrades Him Star Urja to B, Reaffirms Vision Energy and Power at BB+
ICRA Nepal has downgraded Him Star Urja Company Limited's issuer rating to [ICRANP-IR] B, citing a high risk of default. Meanwhile, the agency reaffirmed Vision Energy and Power Limited's issuer rating at [ICRANP-IR] BB+, indicating a moderate risk of default.
ICRA Nepal Limited has downgraded the issuer rating of Him Star Urja Company Limited to [ICRANP-IR] B from [ICRANP-IR] BB-. The rating agency noted that issuers with this rating are considered to have a high risk of default regarding the timely servicing of financial obligations.
In a separate action, ICRA Nepal has reaffirmed the issuer rating of Vision Energy and Power Limited at [ICRANP-IR] BB+, which indicates a moderate risk of default in meeting financial obligations.
The ratings reflect the overall creditworthiness of the companies and are not linked to any specific debt instrument. The “+” sign signifies that the rating is one notch higher than BB within the BB category.