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Entity-Specific Rating Rationales

01 Apr 2026

National Highways Authority of India: Rating reaffirmed

National Highways Authority of India: Rating reaffirmed

02 Apr 2025

National Highways Authority of India: Rating reaffirmed

National Highways Authority of India: Rating reaffirmed

03 Apr 2024

National Highways Authority of India: Rating reaffirmed

National Highways Authority of India: Rating reaffirmed

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Entity-Specific Credit Perspective Reports

27 Apr 2026

National Highways Authority of India

National Highways Authority of India (Non-SF)

30 Apr 2025

National Highways Authority of India

National Highways Authority of India (Non-SF)

02 May 2024

National Highways Authority of India

National Highways Authority of India (Non-SF)

05 May 2023

National Highways Authority of India

National Highways Authority of India (Non-SF)

Ratings

Description
Short Term
Medium Term
Long Term
Issuer
Borrowing Programme -- -- [ICRA]AAA(Stable) --
Borrowing Programme -- -- [ICRA]AAA(Stable) --
Borrowing Programme -- -- [ICRA]AAA(Stable) --
Bonds/NCD/LTD -- -- [ICRA]AAA(Stable) --
Borrowing Programme -- -- [ICRA]AAA(Stable) --
Borrowing Programme -- -- [ICRA]AAA(Stable) --
Fund Based – Overdraft * -- -- --
54 EC Bonds under the Long-term Borrowing Programme for 2017-18 -- -- * --
54EC bonds – 2014-15 -- -- * --

Our Analysts

Analyst 1

Mrinal Jain

Analyst 2

Ritu Goswami

Sector Head

Ashish Modani
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