Moody's withdraws NHAI ratings for business reasons 
Latest News

Moody’s withdraws NHAI ratings for business reasons

Moody's Investors Service has withdrawn the NHAI's issuer rating and senior unsecured medium-term note program rating for business reasons

PSU Watch Bureau

New Delhi: Moody's Investors Service on Wednesday said it has withdrawn the National Highways Authority of India's issuer rating and senior unsecured medium-term note program rating for business reasons.

Prior to the withdrawal, the agency said the outlook on the issuer was stable.

The agency said it has "withdrawn National Highways Authority of India's (NHAI) Baa3 issuer rating and (P) Baa3 senior unsecured medium-term note program rating".

"Moody's has decided to withdraw the ratings for its own business reasons," it added.

NHAI was constituted by an Act of Parliament — the National Highways Authority of India Act, 1988.

It is 100 per cent owned by the government. NHAI operates under the Ministry of Road Transport and Highways (MoRTH) and is responsible for the development, maintenance and management of the national highways entrusted to it.

(With PTI inputs)

(PSU Watch– India's Business News centre that places the spotlight on PSUs, Bureaucracy, Defence and Public Policy is now on Google News. Click here to follow. Also, join PSU Watch Channel in your Telegram. You may also follow us on Twitter here and stay updated.)

GRSE signs MoU with Germany’s Reintjes GmbH to enhance marine propulsion capabilities

RITES, iSky Transport sign MoU to explore sustainable urban mobility solutions

Finance Ministry working on strategy to insulate economy from geo political shocks: DIPAM Secy

NSDL's Rs 4,011 crore IPO subscribed 41 times on final day of offer

India Post Payments Bank starts Aadhaar-based face authentication for digital banking