KNR Constructions Limited has informed the Exchange about Credit Rating- Revision
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Awaiting price reaction for this filing.
KNR Constructions has informed the exchanges that CRISIL Ratings has placed its long-term rating on the company's bank facilities at 'CRISIL AA / Watch Developing' and its short-term rating at 'CRISIL A1+ / Watch Developing'. Importantly, the underlying ratings have not been downgraded — they remain at AA (long-term) and A1+ (short-term), both strong investment-grade levels. The 'Watch Developing' tag means the rating is under review and could move either up or down depending on how a recent regulatory matter plays out. Specifically, on 21st May 2025, NHAI issued a show cause notice to KNR Constructions and its wholly-owned subsidiary KNR Ramanattukara Infra Private Limited over failure of the main carriageway, service road, and associated structures between chainage 276.8 and 277.05 on a highway project. The rating action is linked to uncertainty around the financial and operational impact of this NHAI action.
No immediate rating downgrade — KNR retains a strong AA credit profile with low default risk, so borrowing costs should not spike in the short term. However, the watch status keeps the stock under a cloud until the NHAI issue is resolved, and shareholders should watch for any penalty, liability, or project loss disclosure that could tilt the rating toward a downgrade.