Indus Towers update on request for withdrawal of issuer rating

Indus Towers announced that due to some procedural misunderstanding, it was erroneously mentioned in the said intimation that ICRA Limited has withdrawn the issuer rating assigned to the Company.

While the Company had requested ICRA for withdrawal of issuer rating, there is a procedure of withdrawal wherein the issuer rating is placed on ‘Notice of withdrawal’ for at least one month before being withdrawn.

In this regard, ICRA Limited has reaffirmed the issuer rating of [ICRA] AA+ (Stable) and has also put the same on notice of withdrawal for one month. The rating will be withdrawn after the expiry of one month subject to the approval from rating committee.