Speciality Restaurants gets rating up-gradation from CRISIL for bank facilities

Speciality Restaurants has received rating up-gradation from credit rating agency, CRISIL. The rating agency has upgraded long term bank facilities of the company to A/Stable from A-/Stable. It has also upgraded short term bank facilities of the company to A1 from A2+.

The company has received the said rating upgradation on the back of improvement in its financial risk profile, following its recently concluded initial public offering (IPO), wherein it raised around Rs 176 crore. Moreover, the ratings also reflect Speciality’s established position in the restaurant business, wide geographical reach, and above-average financial risk profile.

Speciality Restaurants focuses on providing the guests an affordable fine dining experience with quality food and service in a modern ambience. The company’s restaurants consist of different restaurant concepts and are located across India, particularly in the western region. Its flagship brand is Mainland China which serves Chinese cuisine in a standalone fine dining setting.