Credit rating agency, Brickwork Ratings India has assigned ‘AA’ rating to the subordinated bonds of Tourism Finance Corporation of India (TFCI) amounting Rs 100 crore. These bonds were allotted in March/April 2009 and the company has obtained an additional rating from Brickwork.
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.
