Ashoka Buildcon announced that ICRA has upgraded the Credit Ratings for Long Term – Fund Based – Term Loan of Ashoka Ankleshwar Manubar Expressway (SPV), a wholly owned subsidiary of Ashoka Concessions, a subsidiary of the Company as follows:

The ICRA has assigned the Credit Rating for Long Term – Fund Based – Term Loan as [ICRA] AAA upgraded from [ICRA] AA; Outlook revised to stable from Positive.