Credit rating agency, CARE has revised rating of James Hotels’ long term bank facilities (Term Loan) worth Rs 78.28 crore to ‘D’ from ‘BB-’. The revision in the rating factors in recent delays in debt servicing by James Hotels.
James Hotels’ carrying out a business of Hotel & Restaurant under the name of Park Plaza having 138 rooms (including suits, premium, deluxe and luxury rooms), restaurants, bar, banquet halls, health club and spa. The hotel is a 5-start category hotel and is situated on a land of 86,424.93 square feet at block 10, Sector 17, Chandigarh.
