SBI Bank receives 'highest ratings' ever

Published On: July 18, 2016 12:45 AM NPT By: Republica  | @RepublicaNepal

KATHMANDU, July17 : ICRA Nepal Ltd has assigned issuer rating of "[ICRANP-IR] AA" (pronounced ICRA NP Issuer Rating Double A) to Nepal SBI Bank Limited.

Issuing a statement, the commercial bank said that the "[ICRANP-IR] AA" rating, which is considered as high credit quality rating carrying low credit risk, was assigned by ICRA Nepal on Friday. 

Similarly, ICRA Nepal has also reaffirmed the rating of [ICRAP] LAA (pronounced ICRA NP Double A) to the subordinated bonds/debenture of Rs 200 million of Nepal SBI Bank Ltd issued in the year 2014.

"Instruments with this rating are considered to have high degree of safety regarding timely servicing of financial obligations and such instruments carry very low credit risk.

Both the above ratings are the highest ratings ever assigned by ICRA Nepal to Nepali listed companies," the statement added.

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