Leela Palaces Hotels & Resorts Limited has announced a comprehensive review of its credit ratings by CRISIL Ratings Limited. As of April 9, 2026, the agency has reaffirmed ratings for several of the company’s and its subsidiaries’ existing bank facilities while withdrawing ratings for proposed, unavailed long-term facilities. Furthermore, a new credit rating has been assigned to Tulsi Palace Resort Private Limited to reflect its current financial standing.
Credit Rating Reaffirmations
Following a recent assessment, CRISIL Ratings Limited has reaffirmed the Crisil AA/Stable credit rating for various existing bank facilities held by Leela Palaces Hotels & Resorts Limited and several of its subsidiaries. This reflects continued financial stability for the company’s core operational debt, including overdrafts and term loans held by the parent entity, Schloss Chennai Private Limited, Schloss Chanakya Private Limited, and Schloss Udaipur Private Limited.
Rating Withdrawals for Proposed Facilities
The rating agency has officially withdrawn the ratings previously assigned to several proposed long-term bank loan facilities, as well as specific working capital facilities. These withdrawals are attributed to the fact that these proposed credit lines were not eventually availed by the respective entities. This move streamlines the credit profile by removing inactive or non-implemented financial instruments from the monitoring list.
New Assignment for Tulsi Palace Resort
In addition to existing facility updates, a new credit rating of Crisil AA/Stable has been assigned to the bank facilities of Tulsi Palace Resort Private Limited, a step-down wholly-owned subsidiary. This assignment integrates the entity into the broader credit monitoring framework of the group, ensuring consistent transparency across its operational assets.
Summary of Financial Outlook
Across the board, the Stable outlook associated with the Crisil AA rating remains in place for all reaffirmed and newly assigned facilities. These adjustments ensure that the company’s publicly disclosed credit ratings accurately reflect its current debt obligations and financial commitments as of the start of the Q1 FY2026-27 period.
Source: BSE
