ICRA Nepal upgrades rating of Global IME Bank

KATHMANDU: ICRA Nepal, the first credit rating agency in Nepal which follows world-renowned Moody’s standard, has upgraded the issuer rating of Global IME Bank to [ICRANP-IR] A from [ICRANP-IR] A- and its existing subordinated debentures to [ICRANP] LA from [ICRANP] LA-.

The ratings indicate an adequate degree of safety regarding the timely servicing of financial obligations and the instruments issued by the bank carry low credit risk.