Kathmandu. ICRA Nepal has confirmed the rating of Siddhartha Premier Insurance. With this, ICRA has removed Siddhartha Premier from its previous negative impact monitoring.
ICRA has reaffirmed the rating and maintained the Issue Rating at ‘A’. Issuers with this assessment are considered to have a high level of security in order to meet their financial obligations on time. The credit risk of such issuers is low.
This rating is simply an opinion about the general credit worthiness of the assessed institution, ICRA said. “This is not a specific debt instrument,” ICRA said.
ICRA said the removal from monitoring with negative impact was mainly due to improved company’s ability to absorb the impact of insurance claims arising from the GenG agitation in August (both in terms of liquidity and balance sheet strength).
