Acuite has reaffirmed the lengthy-term score of ‘ACUITE AA-‘ (study as ACUITE double A minus) to the Rs. 300.00 Cr. Secured redeemable Non-convertible debenture issued via Tourism Finance Corporation of India Limited (TFCI). The outlook is revised from ‘Stable’ to ‘Negative’.

The revision within the outlook is pushed by way of boom in careworn assets (Gross Non-Performing loans and investments and 50 percent of investments in security receipts) from Rs. L 00.23 Crore as on March 31, 2019 to Rs. 168.29 Crore as on September 30, 2019 particularly because of slippage in a single massive account. Acuite believes that any similarly slippages in asset quality. Ought to impart a terrible bias to the rating. Acuite. Based totally on discussions with management of TFCI. Understands that adequate provisions had been mode for these burdened exposures.

Shares of TOURISM FINANCE CORPORATION OF INDIA LTD. Become ultimate trading in BSE at Rs.77.7 as compared to the preceding near of Rs. Seventy seven.5. The total range of stocks traded in the course of the day became 3247 in over forty five trades.