CloudExtel has secured a significant credit rating upgrade from CARE Ratings, moving its long-term bank facilities to ‘CARE A+; Stable’ from ‘CARE A-; Stable’. The two-notch upgrade highlights the company’s strong profitability growth, improving financial profile, and rapid expansion in digital infrastructure.
The upgrade reflects CloudExtel’s consistent growth across key segments such as small cell hosting, fiber deployment, and FTTH connectivity. Rising demand for high-speed data and accelerated 5G rollout in India have driven strong revenue momentum over the past two years.
Kunal Bajaj, CEO & Co-Founder of CloudExtel, said, “This two-notch upgrade reflects our consistent focus on building CloudExtel on a strong foundation of disciplined execution, financial prudence, and long-term vision. We have delivered robust growth while steadily reducing leverage. This reflects our strong commitment to building scalable, high-quality digital infrastructure to support India’s rapidly expanding data demands.”
CARE Ratings also cited the company’s stable revenue model, supported by long-term agreements with telecom operators and ISPs, ensuring predictable cash flows. Improved margins from small cell and fiber projects further strengthened its credit profile.
He further added, “Over the past few years, we have significantly expanded our footprint while strengthening partnerships across the ecosystem. With the continued support of our investors and the unwavering commitment of our team, we are well-positioned to play a pivotal role in accelerating India’s digital transformation.”
Backed by investors like Macquarie Capital and Advencap, CloudExtel continues to reduce leverage while scaling operations. The company remains focused on building robust digital infrastructure to support India’s growing connectivity and data demands.
