Hot Pursuit
Oriental Hotels Ltd announced credit rating actions on its various debt instruments, disclosing information pursuant to Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015. CARE Ratings Limited placed Long Term Bank Facilities aggregating to Rs. 47.16 crore and Long Term/Short Term Bank Facilities amounting to Rs. 1.00 crore, both carrying a rating of CARE AA- (RWP), on Rating Watch with Positive Implications, while reaffirming the Short Term Bank Facilities of Rs. 81.86 crore at CARE A1+; CARE Ratings Ltd. reaffirmed its Bank Loan Facilities of Rs. 500 crore at CARE AAA with a Stable outlook, while noting that certain Bank Facilities are under “Review” due to the issuer not cooperating, and CRISIL has assigned a rating of AAA/Stable to a Long Term Bank Loan; additionally, CareEdge Ratings provided a rating reflecting opinions as on the date of the rating, and N/A ratings were also noted with limited information available and a view pending on implications of events on credit risk profile, with a rating report to be communicated separately.