The Indian Hotels Company Limited — Credit Ratings, 20-02-2026: Credit Rating- Revision

ICRA has upgraded The Indian Hotels Company Limited's long-term fund-based facilities to [ICRA]AAA (Stable) from [ICRA]AA+ (Stable). Its short-term facilities are reaffirmed at [ICRA]A1+. This upgrade reflects IHCL's strengthening business and financial profiles, dominant market position in Indian hospitality, healthy operating income (Rs. 8,334.5 Cr in FY2025), and strong liquidity, backed by its Tata Group parentage.