Moody's rates NHAI Baa3

Moody's Investors Service said it assigned a Baa3 issuer rating to National Highways Authority of India (NHAI).

The outlook is positive.

NHAI is an authority that has been established through an act of parliament and is 100% owned by the government of India, Moody's said.

NHAI's issuer rating of Baa3 primarily reflects an assessment of the very high likelihood that the authority will receive support from the government in a distress situation, the agency said.

NHAI's Baa3 rating reflects its strategic importance and status as the government arm implementing the national highways strategy, Moody's added.

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