ICRA Nepal Limited has upgraded the issuer rating of Chirkhwa Hydropower Limited from [ICRANP-IR] D to [ICRANP-IR] BB, reflecting an improvement in the company’s creditworthiness. The BB rating indicates a moderate risk of default in meeting financial obligations and is based on the company’s overall credit profile rather than any specific debt instrument.

ICRA Nepal also noted that plus (+) or minus (–) symbols may be added to ratings from AA to C to indicate relative position within each category, such as BB+ being stronger than BB, and BB– being slightly weaker.