Intimation of revision of credit ratings of Leela Palaces Hotels & Resorts Limited ( Company ) and its Wholly owned subsidiaries in terms of Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015
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CRISIL Ratings has reaffirmed credit ratings for Leela Palaces Hotels & Resorts Limited and its subsidiaries at CRISIL AA/Stable, indicating strong creditworthiness. The company maintains Rs. 165.9 crore in rated bank facilities (overdraft and term loan with SBI). Subsidiaries including Schloss Chennai (Rs. 557.6 crore), Schloss Chanakya (Rs. 1324.73 crore, enhanced from Rs. 1210.73 crore), and Schloss Udaipur (Rs. 293.8 crore) also retained their AA/Stable ratings. Ratings for proposed facilities were withdrawn as the company did not avail these loans. Notably, Tulsi Palace Resort Private Limited received its first credit rating of CRISIL AA/Stable for Rs. 276.3 crore term loan.
The reaffirmation of AA/Stable ratings across the group signals stable credit health. The new rating for Tulsi Palace Resort and facility enhancement for Schloss Chanakya are positive developments, while withdrawal of proposed facility ratings reflects planned debt optimization rather than credit stress.