LIVE MARKET TRACKER :   BSE SENSEX   29593.73      |    NSE NIFTY 8996.25    
GLOBAL MARKETS :  NASDAQ 4976.778   -0.63%    |    FSI London 6915.63   -0.36%    |    NIKKEI Japan 18815.16   -0.06%
  USD GBP EUR CAD AUD INR
USD - 0.6498 0.8929 1.2444 1.2758 61.838
GBP 1.539 - 1.3742 1.9152 1.9635 95.1718
EUR 1.12 0.7278 - 1.3937 1.4289 69.2586
CAD 0.8039 0.5223 0.7178 - 1.0256 49.709
AUD 0.7842 0.5095 0.7002 0.9758 - 48.4915
INR 0.0162 0.0105 0.0144 0.0201 0.0206 -
Indian-Commodity  :  Corporate  :  CARE revises rating for Bharat Hotels' bank facilities

CARE revises rating for Bharat Hotels' bank facilities (04-Dec-2012)

CARE has revised the rating assigned for Bharat Hotels' long-term bank facilities, aggregating to the worth of Rs 645.14 crore (reduced from Rs 679.4 crore), to 'BBB+' from 'A+'. Further, the rating agency, also has revised the rating for company's short-term bank facilities, aggregating to the worth of Rs 40 crore (reduced from Rs 55 crore), to 'A3+' from 'A1+'. Meanwhile, the rating assigned for company's Rs 106.67 crore worth Non-Convertible Debenture (NCD) also has been revised, from 'A+' to 'BBB+'

The revision in the ratings take into account the decline in the operating performance due to  increasing competition across all locations, moderation in the financial risk profile as characterized by increase in the leverage and deterioration in the  coverage indicators and delay in the proposed  sale of non-core assets. The ratings are also constrained due to large ongoing debt-funded projects coupled with bunching of debt repayments in the medium term and an overall subdued industry. The ratings, however, continue to derive strength from the experienced promoters, long track record of operations and presence at multiple locations.

Bharat Hotels owns and operates nine five-star hotels under the brand name, Lalit,  at Delhi, Mumbai, Bangalore, Udaipur, Goa, Khajurao, Jaipur and Srinagar and a spa-cum-resort located at Bekal (Kerela).


Top News Today
Global ratings agencies not much convinced with the Budget
(03-Mar-2015)

Global ratings agencies not much convinced with the BudgetAlthough the first full year budget of the new government has been termed pragmatic, it failed to turn heads of global ratings agencies and Standard & Poor's (S&P) ruled out a rating upgrade......click on news to read complete article.

Hero MotoCorp, Jubilant Life and Suzlon to see some action today
(03-Mar-2015)

Hero MotoCorp, Jubilant Life and Suzlon to see some action todayHero MotoCorp, the country's largest two-wheeler maker has reported a decline of 3.85% in total sales at 484,769 units in February 2015 as against 504,181 units sold in the same month last year. The company......click on news to read complete article.

Airlines to bear double whammy of Service tax and ATF price hike
(02-Mar-2015)

Airlines to bear double whammy of Service tax and ATF price hikeIt's going to be double whammy for the Indian aviation sector, while the Union Budget of 2015-16 has made the air travel costlier by proposing hike in service tax from 12.36 per cent to 14 per cent for......click on news to read complete article.

International Stock News
US markets closed higher; Nasdaq ends above 5,000
(03-Mar-2015)

US markets closed higher; Nasdaq ends above 5,000The US markets closed higher on Monday, with a rally lifting the Nasdaq Composite above 5,000 - a level not reached since 2000 for the tech-heavy index - while the S&P 500 and the Dow Jones Industrial......click on news to read complete article.

US markets closed lower on weak economic data
(28-Feb-2015)

US markets closed lower on weak economic dataThe US markets closed lower on Friday, with the main indexes finished the week roughly where they started it, but still booked hefty monthly gains. On the economy front, consumers spent a bundle in fourth......click on news to read complete article.

US markets closed mostly lower; Nasdaq ends in green
(27-Feb-2015)

US markets closed mostly lower; Nasdaq ends in greenThe US markets closed mostly lower on Thursday, as downbeat economic reports and selling pressure from the energy sector weighed on the benchmarks. The markets are still reeling under many risks, such......click on news to read complete article.

 

     
  
Recent Corporate News
 
EquityInvestmentCompany ReportsIPO
Disclaimer
By clicking on this page you accept all the terms and conditions framed by us. News made available here are for informational purpose only. While utmost care has been taken in providing the same. We claim no responsibility for its accuracy. Readers of this blog who make their decision based on the information posted here are solely responsible for their actions.