 AA+ (called ICRA NP Issuer Rating double A plus) by ICRA Nepal Limited){kind=link}
The state-owned Nepal Electricity Authority has received (ICRANP-IR) AA+ (called ICRA NP Issuer Rating double A plus) by ICRA Nepal Limited, a credit rating agency in Nepal (NEA).
Issuers with this rating are thought to have a high level of safety when it comes to meeting their financial obligations on time. Credit risk is quite minimal for such issuers. The rating is just an opinion on the rated entity’s overall creditworthiness, not on any specific debt instrument.
Kulman Ghising, NEA Executive Director, said the rating signifies the NEA is recognized to have a high degree of safety when it comes to timely servicing of its financial commitments.
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“The NEA has obtained loans from multi-sectoral development partners such as the World Bank and the Asian Development Bank, with the government of Nepal serving as a guarantor. With this rating, it can now seek out and obtain loans from such partners directly, backed by its institutional guarantee “he stated
He stated he was in talks with the government about making an initial public offering to the general public. “Now, with the government’s approval, we will move on with the process of issuing IPOs to the general public in accordance with the act.” In the first six months of the current fiscal year, 2021/22, the NEA made a profit of Rs 12 billion.