“Based on a review of the latest developments, the Rating Committee of ICRA, after due consideration has downgraded the long-term rating on the Rs190.46cr LOC to ICRA BBB+ from ICRA A-.
The rating committee has also revised the short-term rating on the aforementioned LOC of company to ICRA A2 from ICRA A2+. The outlook on the long-term rating continues to be Negative. The aforesaid ratings will be due for surveillance any-time before June 26, 2021,” company said in a regulatory filing on Friday.
At around 3.03 pm, TajGVK Hotels & Resorts Ltd was trading at Rs139.10 per piece down by Rs2.95 or 2.08% from its previous closing of Rs142.05 per piece on the BSE.