Tourism Finance Corporation of India Limited has informed the Exchange about Credit Rating
TFCILTD · price
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Infomerics has upgraded TFCI's long-term credit rating on its bank term loan facilities from IVR A+/Stable to IVR AA-/Stable, while assigning the same IVR AA-/Stable rating to its Rs 175 crore Non-Convertible Debentures. The Rs 100 crore Commercial Paper programme was reaffirmed at the highest short-term rating of IVR A1+. Total rated facilities amount to Rs 575 crore. The upgrade is backed by a sharp improvement in asset quality, with Gross NPA falling to 0.38% in 9MFY26 from 3.22% in FY25, Net NPA dropping to 0%, and AUM growing to Rs 2,036 crore from Rs 1,694 crore a year earlier. Profit after tax rose 24% year-on-year to Rs 91.44 crore in 9MFY26, while capital adequacy remained robust at 58.13% CRAR with low gearing of 0.75x. The rating outlook is Stable.
This one-notch upgrade signals stronger creditworthiness and could help TFCI secure lower borrowing costs on future debt issuances. For shareholders, the rating action reflects materially improved business fundamentals, especially the clean-up in stressed assets, which is likely to support investor confidence in the stock.