SATV, Kathmandu, Feb. 18 - ICRA Nepal Limited has assigned an ‘A Plus Rating’ to Citizen Investment Trust (CIT).

The company has awarded the fund an ICRANP-IR A Plus rating, the company said in a statement on Tuesday.

"Institutions receiving this rating are considered to have adequate safety with regard to the timely servicing of their financial obligations. The decision was made by ICRA Nepal’s rating committee," read the statement.

Established in 1990, the CIT began its operations in January 1992. The fund operates several schemes, including the Employees’ Savings Growth Retirement Fund, Gratuity and Pension Scheme, Investor Pension Scheme, Life Insurance Fund for Civil Servants, Citizen Unit Scheme, Citizen Pension Scheme, and the Insurance Fund of the Nepal Agricultural Research Council.

Currently, the fund has more than 700,000 participants.