ICRA assigns 'LAA+' to Indian Hotels Rs 602 cr NCD programme
Rating agency ICRA on Friday assigned high credit quality rating (LAA+) to Rs 602 crore Non-Convertible Debenture (NCD) programme of Indian Hotels, a Tata Group company.
By PTI |
NEW DELHI: Rating agency ICRA on Friday assigned high credit quality rating (LAA+) to Rs 602 crore Non-Convertible Debenture (NCD) programme of Indian Hotels, a Tata Group company.
The rating reflects the company's leadership position in the hotel industry and the established 'Taj' brand name, ICRA said in a release.
It also takes into account the company's strong profitability, comfortable cash accruals and the improvement in return on capital (RoCE) despite considerable capital expenditure over the past five years, it said.
The rating is however constrained by the inherent cyclicity and significant expansion plans through both inorganic acquisitions and investments of the company, it added.
The rating reflects the company's leadership position in the hotel industry and the established 'Taj' brand name, ICRA said in a release.
It also takes into account the company's strong profitability, comfortable cash accruals and the improvement in return on capital (RoCE) despite considerable capital expenditure over the past five years, it said.
The rating is however constrained by the inherent cyclicity and significant expansion plans through both inorganic acquisitions and investments of the company, it added.
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