TFCI gets Rating Boost on Long Term Loans
Infomerics upgrades TFCI long term bank loan rating to AA – (Stable)
The Tourism Finance Corporation of India Limited (TFCI) has received a significant boost to its credit profile, with Infomerics Valuation and Rating Limited upgrading its long-term ratings to IVR AA- (Stable), reflecting improved financial stability and credit strength.
The rating agency has upgraded TFCI’s fund-based long-term bank facilities of ₹300 crore to IVR AA- (Stable) from IVR A+ (Stable). In addition, it has assigned an IVR AA- (Stable) rating to non-convertible debentures (NCDs) worth ₹175 crore.
Further, the agency has reaffirmed the rating for the proposed commercial paper programme of ₹100 crore at IVR A1+, indicating strong short-term creditworthiness.
Total Rated Facilities at ₹575 Crore
The total rated facilities now stand at ₹575 crore, with the upgrade factoring in TFCI’s audited financial performance for FY2025 and financial results for the first nine months of FY2026, alongside a detailed evaluation of its business and financial position.
Leadership Perspective
Commenting on the development, Anoop Bali, Managing Director of TFCI, said:
“The upgrade in our credit rating reflects consistent operational performance, disciplined credit and risk management, and the strength of our financial position. Our focus remains on building a stable portfolio across tourism, real estate, manufacturing, social infrastructure, and other sectors. This upgrade reaffirms our commitment to sustainable growth and prudent financial practices.”
Growth Backed by Diversified Portfolio
The upgrade underscores TFCI’s strategic diversification beyond tourism financing, expanding into sectors such as:
- Real estate
- Manufacturing
- Social infrastructure
This diversification, combined with prudent risk management and steady financial performance, has strengthened the company’s credit profile.
