A positive traction towards refinancing is visible as developers with completed projects are tapping capital markets and banks for exploring refinancing opportunities, said India Ratings and Research wing adding that refinancing of Rs 8,450-cr along with a risk-balancing approach could steer the highway sector out of trouble, Indian Ratings and Research (Ind-Ra) believes that although the highway sector is weighed down by concerns such as over-leverage, lower-than- expected cash flows and land acquisition issues, the possibility of refinancing to the tune of Rs 84.5 billion plus, the risk-balancing approach could well prove to be the silver lining in the dark clouds looming over the sector's horizon for the past few years, the rating agency added.
