Fitch Ratings measuring Nepal’s sovereign rating

Kathmandu, January 2

The government has awarded Fitch Ratings, a United States-based international credit rating agency, to study and confirm Nepal’s sovereign credit rating.

Of the three rating agencies that had expressed to conduct the country’s sovereign credit rating, the Ministry of Finance (MoF) has assigned the task to Fitch Ratings, informed , spokesperson for the Finance Ministry.

Along with Fitch Ratings, Moody’s and Standard & Poor’s were the two other that had expressed interest to gauge Nepal’s creditworthiness.

As per Khatri, Fitch Ratings is carrying out works related to the sovereign rating in coordination with the Department for International Development (DFID), .

“Fitch has already started collecting necessary and documents to calculate and determine the country’s rating. We have asked the agency to complete the credit rating process by the end of the ongoing ,” informed Khatri.

Sovereign credit rating determines the trustworthiness of the business environment and credit of a potential debtor, an individual, company, business, government or any other sovereign entity.

Read the full news article on The Himalayan Times.

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