Crisil assigns AAA/Stable rating to Rs. 1150 Crore proposed non-convertible debentures
Crisil Ratings has assigned Crisil AAA/Stable to proposed Non-Convertible Debentures of size 1,150 Crore.
By ScoutQuest · · 1 min read
- Rating
- Crisil AAA/Stable
- Instrument
- Proposed Non-Convertible Debentures
- Issue Size
- 1,150 Crore
- Rating Letter Date
- September 23, 2026
- Revalidation Period
- 180 days from letter date
What was shared
The Investment Manager, Cube Highways Fund Advisors Private Limited, intimated BSE and NSE about a credit rating received for the InvIT, as required under the InvIT and listing disclosure norms.
The rating
- Rating agency: Crisil Ratings Limited
- Instrument: Proposed Non-Convertible Debentures
- Size of the issue: 1,150 Crore
- Rating and outlook: Crisil AAA/Stable
Crisil explains that securities with this rating are considered to have the highest degree of safety regarding timely servicing of financial obligations and carry the lowest credit risk. "Stable" outlook indicates Crisil's current expectation on the direction of the rating.
Conditions attached
- The debentures are marked as yet to be issued.
- If the issue is not made within 180 days from the letter date, or if there is any change in the size or structure of the proposed issue, a fresh revalidation letter from Crisil will be necessary.
- Crisil keeps the rating under surveillance for the life of the instrument and may revise or withdraw it based on new information.
Why it matters to a unitholder
A credit rating is an opinion on the trust's ability to repay borrowings on time. A top-grade rating on proposed debentures generally signals that the borrowing programme is viewed as low credit risk, which can matter for the cost at which the trust raises debt. Crisil itself states that a rating is not a recommendation to buy, sell or hold, and does not comment on market price or suitability for any particular investor.
The trust already has several listed non-convertible debenture series, and the intimation was also copied to the Trustee, Axis Trustee Services Limited, and the Debt Security Trustee, Catalyst Trusteeship Limited.
Also from Cube Highways Trust
Investor call on October 29, 2026 to discuss quarter and half year ended September 30, 2026 financials
23 Oct 2026
Board meeting on October 28 to approve Q2 and H1 financials, consider distribution to unitholders
21 Oct 2026
Quarterly corporate governance compliance report for the quarter ended September 30, 2026
16 Oct 2026
More numbers
- Size of proposed NCD issue1,150 Crore
- Rated NCD amount (rating letter)Rs. 1150 Crore
- Revalidation window if issue not made180 days
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