On February 21, 2025, CRISIL Ratings revised the outlook on Indus Towers Ltd's long-term bank loan facilities and INR 1,750 Crore bond from Stable to Positive, reaffirming the rating at CRISIL AA+. The Rs 750 crore bond's rating was withdrawn after redemption, with short-term facilities reaffirmed at Crisil A1+.