National Highways Infra Trust has informed the Exchange regarding Credit rating Review on 17/02/2026
Awaiting price reaction for this filing.
CARE Ratings has reaffirmed CARE AAA; Stable rating on National Highways Infra Trust's existing debt facilities, including term loans of ₹20,997.64 crore (reduced from ₹21,161.49 crore), non-convertible debentures of ₹1,500 crore, zero coupon bonds of ₹2,031.68 crore, and the issuer rating. New ratings were assigned to a ₹3,325 crore long-term bank facility and a ₹50 crore long-term/short-term bank facility (CARE AAA; Stable / CARE A1+). A proposed NCD of ₹968.32 crore was also reaffirmed for refinancing existing debt. One earlier proposed instrument of ₹2,500 crore was withdrawn as it was not placed. Total outstanding debt stood at ₹21,746 crore as of December 31, 2025. Toll collection averaged ₹11.37 crore daily in 9MFY26, up sharply from prior years.
The reaffirmation of the highest AAA rating with a Stable outlook reinforces NHIT's strong credit profile, backed by NHAI sponsorship and government backing. New facility assignments support the trust's expansion plans (round-5 road assets), which should be neutral to positive for unitholders.