NIC Asia Bank Debenture and Surya Life Insurance right receive ratings from CARE Ratings Nepal

July 11, 2019 | Investopaper

CARE Ratings Nepal has provided the ratings to the two companies in the process of issuing debenture/share.

The companies include:

  1. NIC Asia Bank Limited: NIC Asia Bank has received CARE-NP A ratings for the issue of the debenture. This indicates an adequate degree of safety regarding timely servicing of financial obligation in Nepal & low credit risk. NIC Asia Bank is planning to issue 4.40 billion worth of subordinated debenture. The company will issue the debenture after the approval from the Securities Board of Nepal.
  2. Surya Life Insurance Company: CARE Ratings Nepal has provided Care-NP IPO Grade 4 ratings to the right issue of Surya Life Insurance Company. This indicates below average fundamentals for the company. The life insurance company is trying to issue Rs. 88.74 crores worth of right share to its shareholders.


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