New Delhi, March 27 -- The Tourism Finance Corporation of India Limited (TFCI), a specialised financing institution for the tourism sector in the country, has secured a significant ratings upgrade, with Informerics Valuation and Rating Limited raising its long-term bank loan and NCDs rating to AA-(Stable), reflecting improved credit strength and financial stability.
Infomerics has upgraded the rating for the fund-based long-term bank facility of Rs 300 Cr. to IVR AA-(Stable) from IVR A (Stable). The rating agency has further assigned an IVR AA-(Stable) rating to non-convertible debentures worth Rs 175 crore, while reaffirming the rating for the proposed commercial paper programme of Rs 100 crore, at IVR A1.
The total rated facilities aggr...