Mumbai: State-owned telecom and defense PSU ITI Limited has received a long-term credit rating of IVR BBB- with Stable outlook and a short-term rating of IVR A3 from Infomerics Valuation and Ratings Ltd., the company informed stock exchanges on Wednesday.
The ratings have been assigned to bank facilities aggregating ₹4,221.39 crore, covering both fund-based and non-fund-based working capital limits.
The disclosure was made pursuant to Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, and has been filed with both BSE Limited and the National Stock Exchange of India Limited (NSE).
Details of Credit Facilities Rated
According to the communication received from Infomerics dated February 4, 2026, the rating committee assigned the following:
-
Long-term facilities:
-
Amount: ₹1,450 crore
-
Rating: IVR BBB- / Stable
-
Meaning: Moderate degree of safety with stable outlook
-
-
Short-term facilities:
-
Amount: ₹2,771.39 crore
-
Rating: IVR A3
-
-
Total facilities rated: ₹4,221.39 crore
Basis of Rating
Infomerics stated that the rating is based on the consolidated financial profile of ITI Limited and its associate company India Satcom Limited (ISL), in which ITI holds 49.06% equity. Inter-company transactions have been eliminated for consolidation purposes.
The rating reflects ITI’s position as a Government of India undertaking, its established presence in telecom manufacturing, network services, defense communication, and satellite-related projects.
Validity and Surveillance
-
The rating is valid for one year, up to February 1, 2027
-
Infomerics will conduct periodic surveillance, with the right to review or revise the rating if circumstances warrant
-
ITI is required to submit monthly No Default Statements and quarterly operational and financial data to the rating agency
Market Significance
A BBB- rating indicates moderate credit risk, while a stable outlook suggests no immediate downgrade pressure. The A3 short-term rating reflects the company’s ability to meet short-term obligations, though with relatively higher risk compared to top-tier ratings.
For lenders, investors, and market participants, the rating provides an independent assessment of ITI’s creditworthiness and debt-servicing capability.
Company Overview
ITI Limited, incorporated in 1950, is India’s first public sector telecom company and operates under the Ministry of Communications. The company is listed on both BSE (Scrip Code: 523610) and NSE (Symbol: ITI).