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.
| Company Name | CMP |
|---|---|
| Indian Hotel | 659.55 |
| ITC Hotels | 162.45 |
| EIH | 321.55 |
| Chalet Hotels | 778.90 |
| Mahindra Holi.&Resor | 272.70 |
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