Cube Highways Trust has informed the Exchange regarding Credit rating obtained on 04/06/2025
Awaiting price reaction for this filing.
Crisil Ratings has assigned and reaffirmed top-tier ratings on Cube Highways Trust's debt instruments on June 4, 2025. New ratings were assigned: Crisil AAA/Stable on Rs 1,000 crore Non-Convertible Debentures and Crisil A1+ on Rs 1,350 crore Commercial Papers, to fund acquisitions of QZ and JU assets worth ~Rs 4,000 crore. Existing ratings were reaffirmed: Crisil AAA/Stable on Rs 600 crore NCDs, and Crisil AAA/Stable (long-term) and Crisil A1+ (short-term) on total bank loan facilities of Rs 13,150 crore, backed by 25 road assets under NHAI concessions. The outlook remains Stable, supported by toll revenue growth of 7.5% YoY, DSCR around 1.75x, and adequate reserves.
Strong reaffirmation at the highest credit grade (AAA) and Stable outlook signals excellent debt-servicing capability, supportive of unit price stability. The newly assigned ratings for Rs 2,350 crore of fresh debt enable the trust's pending acquisitions without immediate stress to unitholders.