Basnet’s five-star hotel Grand Central upgrades rating of Rs 1.10 billion loan

लगानी न्यूज

१६ कार्तिक २०८२, आईतवार १५:०५November 2, 2025

. The five-star hotel ‘Grand Central Hotel’ built in Sunsari has earned a rating of loan worth one and a quarter billion rupees. Rating agency Infomerics Credit Ratings Nepal has rated the hotel for a short-term and long-term loan of Rs 1.13 billion.

The company’s long-term debt has been rated “IRN BB” by Infomerics Credit Ratings and “IRN A4” by Infomerics Credit Ratings.TAG_OPEN_div_24 Earlier, the hotel had received ‘IRN BB (Double B Minus)’ and ‘IRN A4’ ratings for the same loan.

The rating agency has upgraded the rating on the company’s long-term bank performance. The company’s long-term loan rating of Rs 1.10 billion has been upgraded to IRN Double B from minus IRN Double B.

The current rating by Infomerics indicates that the company’s financial position is moderate.TAG_OPEN_div_20 The company’s rating indicates that while there is some risk to its long-term debt serve, the company has demonstrated sufficient ability to meet its obligations so far.

The hotel, which is being operated with the sole investment of Deshbandhu Basnet, President of Tourism and Air Transport Committee of Federation of Nepalese Chambers of Commerce and Industry (FNCCI), will be able to avail bank loan facility of Rs 110.30 crore for long term from double ‘B’ rating and Rs 30 million for short term from second rating.TAG_OPEN_div_18

The hotel, which is accredited by Wyndham Hotel Asia Pacific, has been rated on the basis of its location, construction activity, accreditation from foreign hotels and success of investors, according to rating provider Infomerics.TAG_OPEN_div_16 The rating was given on the basis of the experience of the company’s investors, the priority given by the government to the tourism and service sector, among others.

Basnet’s Investment Company has been directly investing and constructing projects in many projects in the service and tourism sector.TAG_OPEN_div_14 The hotel has partnered with reputed foreign chain Hotel Wyndham to bring the Ramada brand. Wyndham Hotels operates more than 9,100 hotels in 95 countries around the world. The hotel, which is being built at a total investment of Rs 1.07 billion, is expected to be soft launched by mid-2025. It is planned to be fully operational by early 2026.