ICRA An Affiliate of Moody's

Entity-Specific Rating Rationales

27 Nov 2025

Indus Towers Limited (formerly Bharti Infratel Limited): Long-term rating upgraded to [ICRA]AAA (Stable); short-term rating reaffirmed; outlook revised to Stable from Positive

28 May 2025

Indus Towers Limited (formerly Bharti Infratel Limited): Ratings reaffirmed; outlook revised to Positive from Stable

29 May 2024

Indus Towers Limited (formerly Bharti Infratel Limited): Ratings reaffirmed

18 Jan 2024

Indus Towers Limited (formerly Bharti Infratel Limited): Change in Limits

30 May 2023

Indus Towers Limited (formerly Bharti Infratel Limited): Ratings reaffirmed

03 Feb 2023

Indus Towers Limited (formerly Bharti Infratel Limited) - Update on Material Event

Entity-Specific Credit Perspective Reports

24 Dec 2025

Indus Towers Limited (formerly Bharti Infratel Limited)

Indus Towers Limited (formerly Bharti Infratel Limited) (Non-SF)

23 Jun 2025

Indus Towers Limited (formerly Bharti Infratel Limited)

Indus Towers Limited (formerly Bharti Infratel Limited) (Non-SF)

17 Jun 2024

Indus Towers Limited (formerly Bharti Infratel Limited)

Indus Towers Limited (formerly Bharti Infratel Limited) (Non-SF)

27 Jun 2023

Indus Towers Limited (formerly Bharti Infratel Limited)

Indus Towers Limited (formerly Bharti Infratel Limited) (Non-SF)

Ratings

Description	Short Term	Medium Term	Long Term	Issuer
Non-Convertible Debenture	--	--	[ICRA]AAA(Stable)	--
Term Loan	--	--	[ICRA]AAA(Stable)	--
Fund based/Non Fund based limits	[ICRA]A1+	--	[ICRA]AAA(Stable)	--
Unallocated Limits	[ICRA]A1+	--	[ICRA]AAA(Stable)	--
Issuer rating	--	--	*	--
Commercial Paper	[ICRA]A1+	--	--	--

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