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ICRA downgrades ratings of Taj GVK Hotels & Resorts

27 Nov 2020 Evaluate

Credit rating agency – ICRA has downgraded ratings Taj GVK Hotels & Resorts’ long term loans aggregating to Rs 160.46 crore to BBB+ with negative outlook from A- and company’s short term credit facilities aggregating to Rs 30 crore to A2 from A2- along with rational for such downgrade. The revision in the rating is on account of review of the latest development.

Taj GVK Hotels & Resorts is a joint venture of the Tata Group’s Indian Hotels Company and Hyderabad-based G V K group.

Peers
Company Name CMP
The Indian Hotels Co 727.25
ITC Hotels 156.85
Mahindra Holi.&Resor 199.85
EIH 291.90
Chalet Hotels 820.00
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