SEBI has widened the permitted use of fresh borrowings for Infrastructure Investment Trusts (InvITs) with net debt above 49% of asset value, effective immediately. The regulator now allows such funds for capital expenditure to improve performance or expand capacity, and also for major maintenance costs on road projects, defined as non routine expenses tied to concession obligations. SEBI further permits refinancing by the InvIT, SPV, or holding company, but only the principal can be refinanced—interest and fees cannot.
Mortgage rates are climbing as U.S. Treasury yields rise, pulling refinancing costs higher across the housing market. The average 30-year fixed refinance rate jumped to 6.54%, while standard 30-year mortgage rates reached 6.34%. Sticky inflation and a cautious Federal Reserve outlook are keeping borrowing expensive, leaving homeowners who waited for lower rates facing a tougher reality in 2026.
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Care Ratings has downgraded Goswami Infratech’s NCDs after pointing to delayed fundraising, an extended redemption timeline, weak cash flows, and higher refinancing risk. The rating agency said the company’s holding structure and dividend reliance further limit buffers, though past refinancing success and strategic stakes offer some support to credit flexibility.
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