ICRA Nepal Updates Ratings: Kumari Bank Removed from Negative Watch; Daunne Agro Farm Assigned BB– Rating

ICRA Nepal Limited has updated the credit ratings of Kumari Bank Limited and Daunne Agro Farm Limited, reflecting notable changes in their financial risk outlooks.

Kumari Bank Limited’s Issuer Rating and Subordinated Debenture Rating have been removed from the ‘Watch with Negative Implications’ category. The bank now holds an issuer rating of [ICRANP-IR] BB+ and a subordinated debenture rating of [ICRANP] LBB+.

According to ICRA Nepal, these ratings indicate a moderate risk of default in meeting financial obligations. On ICRA’s rating scale, BB+ is one notch above BB, and one notch below BBB–, signaling that the bank’s overall credit position has stabilized compared to its previous negative outlook.

Meanwhile, Daunne Agro Farm Limited has been assigned an issuer rating of [ICRANP-IR] BB– by ICRA Nepal.
This rating also denotes a moderate risk of default in fulfilling financial commitments.

The assigned rating reflects the company’s overall creditworthiness and is not specific to any particular debt instrument. On ICRA’s rating scale, BB– is one notch below BB, and two notches below BB+, suggesting a relatively weaker but still moderate credit standing.