Capital Infra Trus has informed the Exchange regarding Credit rating Review on 03/02/2026
Awaiting price reaction for this filing.
Crisil Ratings has reaffirmed its AAA/Stable rating on Capital Infra Trust's non-convertible debentures worth about Rs 1,919 crore and its corporate credit rating, following a review on February 3, 2026. The trust, an InvIT with 12 operational road (HAM) assets, partially redeemed NCDs and prepaid about Rs 420 crore of external debt using proceeds from a Rs 345 crore preferential unit issue to sponsor Gawar Construction and Rs 75 crore of internal accruals. In December 2025, the trust acquired three more HAM SPVs funded via a Rs 1,250 crore QIP and roughly Rs 1,150 crore of fresh debt. Leverage came down to 45.6% from 55.0%, and DSCR stands at a comfortable 1.9–2.1 times. Crisil also withdrew its rating on Rs 480.63 crore of NCDs after partial redemption was confirmed by the debenture trustee.
AAA/Stable reaffirmation reflects strong financial health and predictable cash flows from NHAI-backed annuities, which lowers refinancing risk for unit holders. The debt prepayment and lower leverage strengthen the balance sheet, while future debt-funded acquisitions remain a monitorable.