Mumbai, Feb. 25 -- The agency has also affirmed the company's short-term rating at 'ACUITE A1+'.

Acuite Ratings had previously placed the company's rating on 'Rating Watch with Developing Implications' on account of impending asset monetisation transactions.

Acuite notes that ABL has completed the monetization of 5 BOTs (build-operate-transfer) and 5 HAMs (hybrid annuity model) resulting in total proceeds of Rs 2817 crore.

The proceeds have been utilized to provide an exit to SBI Macquarie, reduction in short term borrowings thereby strengthening the capital structure of the company, make payments to Viva Highways (VHL) to acquire stake in Jaora Nayagaon Toll Road Company (JNTCPL) and settle vendor payments to avail cash discounts. Hen...