Comments
The Rating Committee of ICRA (Investment Information and Credit Rating Agency) has reaffirmed the long-term rating of Apeejay Surrendra Park Hotel Groups for the captioned Line of Credit (LOC) at “[ICRA]A+” (pronounced ICRA A plus) for Rs 504.03 crore.
The agency has also reaffirmed the short-term rating for the captioned LOC at “[ICRA]A1+” (pronounced ICRA A one plus).
The outlook on the ratings is 'stable', Apeejay Surrendra Park Hotels said in a release.
ICRA reviews the ratings assigned to a company on an annual basis or as and when the circumstance warrants.
According to Vijay Dewan, MD, Apeejay Surrendra Park Hotels, the rating re-affirms the company’s success and growth story.
“Leadership in occupancy and rev-par, high share of food and beverage income and a balanced capital structure have been key drivers,” he said.
Comments
COMMENT NOW
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.