Cube Highways Trust has informed the Exchange regarding Credit rating Review on 28/08/2025
Awaiting price reaction for this filing.
ICRA has reaffirmed Cube Highways Trust's credit rating at [ICRA]AAA (Stable) — the highest investment-grade rating — across all its debt instruments as on August 28, 2025. This covers a Rs. 10,450 crore long-term term loan (from SBI, Axis Bank, HDFC Bank, and NaBFID), Rs. 3,862 crore of non-convertible debentures (NCDs) listed on BSE/NSE, and a Rs. 500 crore non-fund based bank guarantee facility. The non-fund based limit was also reaffirmed and assigned for an enhanced amount, indicating an expansion in the trust's bank guarantee capacity. Lenders and NCD holders include major public and private sector banks along with institutional investors.
Reaffirmation of the top-tier AAA rating signals strong debt-servicing ability and low credit risk, which is positive for existing NCD holders and supportive of the trust's ability to raise future debt at competitive rates. The enhanced non-fund based facility may also improve operational flexibility, though no direct impact on unit price is expected from a routine reaffirmation.