Credit rating agency, CARE has withdrawn rating assigned to Tourism Finance Corporation of India’s (TFCI) long-term unsecured bonds aggregating to Rs 31.34 crore.
The rating agency has withdrawn rating with immediate effect as the company has fully repaid the amounts under the said issue and there is no amount outstanding under the issue as on date.
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.
