Asian Hotels (North) receives 'IVR D' credit rating for long-term facilities

Asian Hotels (North) Limited announced that Infomerics Valuation and Rating Ltd. has assigned a credit rating of 'IVR D' to the company's outstanding long-term facilities. This rating, dated September 9, 2025, applies to an aggregate of INR 685.05 crores.

The rated facilities comprise a Term Loan from Star Strength amounting to INR 173.54 crore with a maturity date of March 2030, a Term Loan from Ambience Cement Private Limited of INR 240.87 crore, and a Term Loan from Sammaan Capital Limited for INR 97.10 crore.

Infomerics' rating definition states that securities with an 'IVR D' rating are considered to be in default or expected to be in default soon. The rating is normally valid for one year from the rating committee meeting on September 8, 2025, with surveillance reviews conducted within 12 months.