TajGVK Hotels receives credit rating upgrade from ICRA

TajGVK Hotels & Resorts Limited has seen an upgrade in its long-term credit rating from ICRA Limited (ICRA). The company's long-term rating has been raised to [ICRA]A (pronounced ICRA A) from [ICRA]A-. At the same time, the short-term rating has been reaffirmed at [ICRA]A2+. The outlook for the long-term rating is Stable.

This upgrade follows a review by ICRA's Rating Committee, considering the latest developments and circumstances. TajGVK Hotels & Resorts Limited will be under surveillance for its credit rating until September 28, 2024.

TajGVK Hotels & Resorts Limited is encouraged to promptly inform ICRA of any defaults, delays in repayments, or other developments that could impact its debt servicing capability, ensuring transparency in its financial affairs.

The upgraded credit rating signifies improved creditworthiness for TajGVK Hotels & Resorts Limited and can positively influence its borrowing capabilities and financial relationships with lenders and investors.