Samhi Hotels: CARE Ratings Reaffirms 'A+' Rating on Bank Facilities
Samhi Hotels Limited's Long Term Bank Facilities of ₹138.17 crore have been reaffirmed with a 'CARE A+; Stable' rating by CARE Ratings. Several subsidiaries also had their bank facilities reaffirmed at similar ratings. The total value of reaffirmed facilities across the company and its subsidiaries amounts to several hundred crore rupees.
Credit ratings are important for a company's borrowing costs and access to capital. A stable rating reaffirms investor and lender confidence, though the impact is moderate as it's a reaffirmation rather than an upgrade.
The reaffirmation of credit ratings by CARE Ratings indicates continued financial stability and confidence in the company's creditworthiness, which is a positive development.
Samhi Hotels Limited (SHL) has received an intimation regarding the credit rating assigned by CARE Ratings Limited (CareEdge Ratings). The rating agency has reaffirmed the 'CARE A+; Stable' rating for the company's Long Term Bank Facilities amounting to ₹138.17 crore, which has been reduced from ₹228.32 crore. Additionally, the Long Term/Short Term Bank Facilities of ₹50.68 crore have been reaffirmed with ratings 'CARE A+; Stable/ CARE A1'.
Ratings were also reaffirmed for several subsidiaries of Samhi Hotels Limited. Duet India Hotels (Hyderabad) Private Limited's Long Term Bank Facilities of ₹171.49 crore (reduced from ₹178.60 crore) and Short Term Bank Facilities of ₹16.00 crore were reaffirmed as 'CARE A+; Stable' and 'CARE A1' respectively. Duet India Hotels (Ahmedabad) Private Limited's Long Term Bank Facilities of ₹35.79 crore (reduced from ₹37.30 crore) and Short Term Bank Facilities of ₹1.00 crore were reaffirmed as 'CARE A+; Stable' and 'CARE A1'.
Duet India Hotels (CE 0) Private Limited saw its Long Term Bank Facilities of ₹27.78 crore (reduced from ₹29.00 crore) and Short Term Bank Facilities of ₹1.00 crore reaffirmed as 'CARE A+; Stable' and 'CARE A1'. Duet India Hotels (Pune) Private Limited's Long Term Bank Facilities of ₹27.90 crore (reduced from ₹29.10 crore) and Short Term Bank Facilities of ₹1.50 crore were reaffirmed as 'CARE A+; Stable' and 'CARE A1'. Argon Hotels Private Limited's Long Term/Short Term Bank Facilities of ₹20.00 crore were reaffirmed as 'CARE A+; Stable/ CARE A1', and its Long Term Bank Facilities of ₹83.02 crore (reduced from ₹84.30 crore) were reaffirmed as 'CARE A+; Stable'.
Further, other facilities including Long Term/Short Term Bank Facilities of ₹40.00 crore and ₹102.91 crore (reduced from ₹105.80 crore) were reaffirmed as 'CARE A+; Stable/ CARE A1'. Long Term Bank Facilities of ₹205.64 crore (reduced from ₹208.79 crore) and ₹3.50 crore were reaffirmed as 'CARE A+; Stable'. Lastly, Long Term Bank Facilities of ₹20.17 crore (reduced from ₹30.00 crore) were reaffirmed as 'CARE A+; Stable'.
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Samhi Hotels Limited filed this with the NSE as a statutory disclosure, categorised under credit ratings. It is a primary document, not a recommendation, and the desk marks it medium impact: worth reading, rarely worth acting on by itself.
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See the model portfoliosA plain-language summary of a public exchange filing by Samhi Hotels Limited. Read the original for the full detail.