Asian Hotels (North) Limited has informed the Exchange about General Updates. Intimation dated 27.02.2026 under Regulation 30 of SEBI (LODR) regarding withdrawal of Crediting rating attached
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Asian Hotels (North) Limited has informed the exchanges that Infomerics Valuation and Rating Ltd. has withdrawn the long-term rating of 'IVR D' (a default-category rating) on the company's bank facilities with immediate effect, effective February 26, 2026. The withdrawal was initiated at the company's request, supported by No Dues Certificates from lenders — Star Strength, Ambitious Cement Private Limited, and Sammaan Capital Limited. The rated bank facility amount has been reduced from Rs. 685.05 crore to zero, indicating that the company has fully repaid all bank facilities that were under Infomerics' rating coverage. The company's FY25 audited financials show a sharp turnaround, with PAT of Rs. 187.26 crore (versus a loss of Rs. 87.50 crore in FY24) and total debt falling from Rs. 1,052.41 crore to Rs. 550.06 crore.
Positive for shareholders — the company has completely cleared its rated bank borrowings, reducing leverage and eliminating the default-rated debt overhang. However, investors should note that the withdrawn 'IVR D' rating reflects a history of default, even though the debt has now been settled, so balance-sheet quality remains a key watchpoint.