Monday 11th of December 2017

Follow Us

Breaking News

National Highways Authority of India going Strong

New Delhi,Nov 18,(Fast Mal):-- Following the upgrade of India's sovereign rating from Baa3 positive to Baa2 stable on 16th November 2017, Moody's Investors Service has upgraded the issuer ratings of National Highways Authority of India to Baa2 from Baa3 and revised outlook to stable from positive. The ratings of NTPC, NHPC and GAIL have also been upgraded.

 

According to Moody’s "The upgrade in ratings for NTPC, NHPC, NHAI and GAIL follows the upgrade of the Indian sovereign rating and reflects the strategic importance of these entities to the country, as well as their close operational and financial links with the government,"

 

It was only about a month back on October 9th that Moody’s had assigned a first time Baa3 rating to NHAI. The upgrade to Baa2 has come for NHAI in a very short time.

 

 

Meanwhile, a report of the global rating agency CRISIL issued on 16th November 2017 has also said that reforms by NHAI have resulted in a steep decline in the percentage of high risk highways projects from 53 percent two years back to 21 percent now. The reforms that have made this possible include quicker approvals, loan support for languishing projects, termination of stuck projects and their subsequent re-awarding, and affording a change in sponsor. According to CRISIL about 80 % of the operational portfolio comprising nearly 100 BOT projects are at low risk today in terms of debt servicing.

 

The CRISIL report also acknowledges that NHAI reforms have resulted in doubling of highways construction rate from 12 km per day in 2015 to 23 km per day in 2017. It says, the awarding of contracts is expected to sustain given the announcement and subsequent implementation of Bharatmala project.

 

The CRISIL report goes on to say that with the improved ground situation both debt and equity investors are showing more interest in the road sector.

Fast Mail Media,(FMM)

Related Business News

Fish production in the country increases from 0.75 million tonne in 1950-51 to 11.41 million tonne in 2016-17: Radha Mohan Singh

 Panaji,Dec 10(TheFastMail):-Union Minister for Agriculture and Farmers Welfare, Radha Mohan Singh said that India is second largest fish producer in the world. Overall fish production has increased from 0.75 million tonne of 1950-51 to 11.41 million tonne in 2016-17. Besides, this sector provi....

Direct tax collections rise 14.4% during April–November

 New Delhi,dec 9:-- Direct tax collections has registered a growth of 14.4 per cent during April to November of this fiscal. Central Board of Direct Taxes in a statement said, tax collections up to November this year stood at 4.8 lakh crore rupees, which is 14.4 per cent higher than the net col....

Tata Motors rolls out first Tigor EV

Mumbai, Dec 9:-- Automobile major Tata Motors on Wednesday rolled out the first batch of the compact sedan Tigor's electric variant from its Sanand facility in Gujarat.    According to the company, Tigor EVs (electric vehicles) are being manufactured for the Union government's order of ele....

National Conference on E-Courts Project

New Delhi,Dec 8,(Fast Mail):-- The eCommittee, of the Supreme Court of India in association with the Department of Justice (DoJ) of the Government of India held a two day National Conference in New Delhi on December 2 and 3 in which all the Central Project Coordinators of various High Courts connect....

ESI scheme has presence now in over 461 districts of the country providing benefit to around 10 percent of Indian population- Santosh Kumar Gangwar

New Delhi,Dec 8,(Fast Mail):-- The Union Minister of State for Labour & Employment (I/C), Santosh Kumar Gangwar announced that the ESI Scheme is on the path of sustained growth with its presence now in over 461 districts of the country providing benefit to around 10% of India’s population ....

Links
Contact
Editor :
Jagadananda Pradhan
Email :
fastmailmedia@gmail.com
fastmail@yahoo.com
Mob :(+91) 9437155542
Ph : 06764 223911
Contact Us
© 2015 Fast Mail Media Pvt Ltd. All Rights Reserved.
Developed by : FM Media Pvt Ltd.