Asian Hotels (North) credit rating withdrawn following loan closures

Asian Hotels (North) Limited has confirmed the withdrawal of its credit rating by Brickwork Ratings India Private Limited, effective September 3, 2025. This decision, conveyed through a letter from Brickwork Ratings, stems from the closure of a loan facility, leading to the company's request for the rating withdrawal.

The company had previously received a "BWR D" long-term rating, with its bank loan facilities classified as "ISSUER NOT COOPERATING," as per a December 20, 2024, letter from Brickwork Ratings. Brickwork Ratings confirmed that Asian Hotels (North) had secured "No Dues Certificates" from all lenders, with the debt from Punjab National Bank, IndusInd Bank (assigned to VSJ Investments Pvt. Ltd.), and Yes Bank (assigned to JC Flowers ARC) fully settled.

The withdrawal applies to the Bank Loan Facility, which aggregated INR 0.00 Cr. The announcement, made under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements), Regulations, 2015, indicates that the company has now resolved its outstanding loan obligations.