Kathmandu. Asian Life Insurance Company has upgraded its rating to Unitech Hydropower.
ICRA Nepal has upgraded the Issue Rating of Unitech Hydropower to B Plus (ICRANP-IR). Previously, the company’s Issue Rating was B Minus. Despite the upgrade of the rating, the risk to the company’s ability to meet its financial obligations on time is still high.
Similarly, ICRA has upgraded the company’s long-term debt rating to LB Plus. Earlier, this rating was LB minus. The company’s short-term debt rating has been retained at A4.
Currently, the company’s long-term debt stands at Rs 82.77 crore and short-term debt of Rs 3.50 crore.
Asian Life has invested Rs 120 million in Unitech Hydropower. The company has a 5.8 MW Upper Fawa hydropower project in Taplejung district.
