ICRA assigns A+ rating to NCD program of Tulip Telecom

Credit rating agency, ICRA has assigned a long term rating of A+ for the Rs 150 crore Non Convertible Debenture (NCD) program of Tulip Telecom. The outlook on the rating is stable. The rating agency has also reaffirmed the A1 rating for Rs 150 crore Commercial Paper (CP) program of the company.

The ratings continue to take into account the company’s established position in the corporate data connectivity segment, increasing proportion of revenues from the relatively more profitable corporate data connectivity segment, and its pan-India data connectivity network which increases its market size.

Tulip Telecom is a data telecom service and IT solutions provider. The company offers an innovative IP based infrastructural solutions to its customers.