Care Ratings: Changes In Hybrid Annuity Model Concession - A Credit Positive
Traffic moves along National Highway 7 as road construction takes place in Bangalore, India, (Photographer: Namas Bhojani/Bloomberg)

Care Ratings: Changes In Hybrid Annuity Model Concession - A Credit Positive


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Care Ratings Research Report

In a bid to address the key issues faced by the stakeholders under existing concession agreement and to enhance the bidding appetite for Hybrid Annuity Model (HAM) based road projects, Ministry of Road Transport and Highways, on November 10, 2020, issued revised model concession agreement for new HAM-based road projects.

Key changes introduced in the revised model concession agreement of HAM are -

Interest annuities for upcoming HAM projects are now linked to average of one year marginal cost of funds based lending rate of top five scheduled commercial banks as against bank rate linked interest annuities payable under existing agreement.

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Care Ratings Changes in HAM Concession A Credit Positive.pdf


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