S&P affirms National Highways Authority of India

S&P said it affirmed its BBB- long-term issuer credit rating on National Highways Authority of India (NHAI). The outlook is stable.

S&P also affirmed its A-3 short-term issuer credit rating on the entity.

“The stable outlook on NHAI mirrors the outlook on the sovereign credit rating on India (unsolicited rating BBB-/stable/A-3). It reflects our assessment of an almost certain likelihood of extraordinary government support for NHAI in the event of financial distress,” S&P said in a news release.

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