Nabil Bank Limited: Ratings Placed on Watch with Negative Implications Fujima Oil Company Private Limited: [ICRANP] LBB/A4+ assigned Himalayan Water Resources & Energy Development Company Private Limited: Rating downgraded and moved to ‘Issuer Not Cooperating’ category with notice for rating withdrawal Synergy Power Development Limited: Ratings reaffirmed Sanigad Hydro Private Limited: Ratings downgraded and moved to ‘Issuer not cooperating’ category with notice for ratings withdrawal

Welcome to ICRA Nepal

enhancing business value through intellectual leadership

ICRA Nepal Limited (ICRA Nepal), the first Credit Rating Agency in Nepal, is a Subsidiary of ICRA Limited (ICRA) of India. It was incorporated on November 11, 2011 and granted licence by the Securities Board of Nepal (SEBON) on October 3, 2012.

ICRA Nepal is supported by ICRA Limited through a Technical Support Services Agreement, which envisages ICRA helping ICRA Nepal in such areas as rating process & methodologies, analytical software, research, training, and technical & analytical skill augmentation.

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Our Services

Rating Rating Services

ICRA Nepal rates rupee denominated debt instruments issued by commercial banks, financial institutions, non-banking finance companies, public sector undertakings, and manufacturing and service companies, among others.

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Grading Gradings

The Grading Services offered by ICRA Nepal employ pioneering concepts and methodologies, and include Grading of Initial Public Offers (IPOs).

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Our Methodology

Our Methodology

ICRA Nepal considers all relevant factors that have a bearing on the future cash generation of the issuer. These factors include: industry characteristics, competitive position of the issuer, operating efficiency, management quality, commitment to new projects and other associate companies, and funding policies of the issuer.

A detailed analysis of the past financial statements is made to assess performance under "real world" business dynamics. Estimates of future earnings under various sensitivity scenarios are drawn up and evaluated against the claims and obligations that require servicing over the tenure of the instrument being rated.

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Recent Releases

(From ICRA Nepal)

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