Brickwork Rating India has upgraded the rating to Tourism Finance Corporation of India’s unsecured bond issues worth Rs 200, 175, 100 and 200 crore from AA- to AA. The rating agency has also upgraded the rating to company NCD worth Rs 50 crore from AA- to AA.
Tourism Finance Corporation of India (TFCI) is engaged in the business of providing financial assistance to tourism-related activities/projects. TFCI provides financial assistance in form such as Rupee Loan, Underwriting of public issues of shares/debentures and direct subscription to such securities, guarantee of deferred payments and credit raised abroad, equipment finance, equipment leasing, assistance under suppliers' credit, working-capital financing, takeover financing and advances against credit-card receivables.
