NHAI’s Raajmarg InvIT Secures AAA Rating, Boosting Investor Confidence and Growth

CARE Ratings attributed RIIT’s strong rating to multiple factors, notably the experience, credibility, and proven performance of its sponsor — the National Highways Authority of India (NHAI).

The NHAI-sponsored Infrastructure Investment Trust (InvIT) — Raajmarg Infra Investment Trust (RIIT) — has achieved a major milestone with CARE Ratings Limited awarding it a AAA (Stable) rating for its long-term bank facilities. This top-tier rating underscores the highest level of creditworthiness, reflecting exceptional financial stability and extremely low risk of default.

A AAA (Stable) rating represents the strongest possible endorsement of safety for investors, signalling that RIIT’s debt instruments are among the most secure investment avenues in India’s infrastructure sector. The ‘Stable’ outlook further indicates that this rating is expected to remain consistent over the near and medium term, reinforcing investor trust.

CARE Ratings attributed RIIT’s strong rating to multiple factors, notably the experience, credibility, and proven performance of its sponsor — the National Highways Authority of India (NHAI). As India’s premier highways development agency, NHAI brings deep institutional expertise in planning, executing, and managing large-scale road infrastructure.

The rating also reflects the strategic importance of NHAI’s asset monetisation programme, a central pillar in financing India’s expanding highway network. To date, NHAI has successfully monetised road assets worth ₹1.43 lakh crore, creating a cycling pipeline of capital for new projects and infrastructure upgrades.

RIIT recently received approval from the Securities and Exchange Board of India (SEBI) as a registered Public Infrastructure Investment Trust, marking a major advancement in the authority’s monetisation strategy. As a Public InvIT, RIIT aims to:

• Unlock the long-term monetisation potential of National Highway assets,

• Offer a high-quality investment instrument for retail and domestic investors,

• Deepen public participation in India’s infrastructure growth story, and

• Promote sustainable capital formation in the roads sector.

The AAA rating significantly bolsters RIIT’s credibility as an investor-friendly vehicle, enabling wider participation from households, institutional investors, and pension and insurance funds. It also highlights the strong governance structure, operational performance, and revenue stability inherent in NHAI-backed assets.

This achievement marks a major step forward in aligning India’s infrastructure financing ecosystem with global best practices. By combining stable, long-term returns with a transparent investment framework, RIIT is poised to play a transformative role in supporting India’s highway expansion and broader economic growth.