Maple Infrastructure Trust has achieved a significant milestone with ICRA Limited assigning an issuer credit rating of [ICRA] AAA (Stable) on February 25, 2026. The rating agency also took comprehensive rating actions on the trust's debt instruments worth ₹4,050.00 crores, demonstrating strong confidence in the infrastructure investment trust's financial capabilities.

Credit Rating Assignment and Reaffirmation

ICRA Limited assigned the highest investment-grade issuer rating of AAA (Stable) to Maple Infrastructure Trust, marking a significant achievement for the infrastructure investment trust. The rating reflects the trust's strong credit profile and stable outlook in the infrastructure sector.

The rating agency simultaneously addressed multiple debt instruments through a combination of reaffirmations and new assignments:

Significant Term Loan Enhancement

The most notable aspect of the rating action was the substantial enhancement of the term loan facility from ₹1,000.00 crores to ₹3,750.00 crores. This represents a significant increase in the trust's borrowing capacity, indicating strong lender confidence and the trust's ability to service larger debt obligations.

Banking Partner Distribution

The rated facilities are distributed across multiple reputable financial institutions, providing diversified funding sources for the trust:

Regulatory Compliance and Disclosure

The trust has fulfilled its regulatory obligations under Regulation 23 of SEBI (Infrastructure Investment Trusts) Regulations, 2014, and the SEBI Master Circular for Infrastructure Investment Trusts dated July 11, 2025. The rating information has been formally communicated to BSE Limited and made available on the trust's website at www.maplehighways.com .

The facility structures include various sublimits and interchangeable arrangements, such as the DSRA Bank Guarantee limits of ₹160.00 crores with sublimit of short-term loans of ₹60.00 crores, and performance bank guarantee limits with overdraft sublimits, providing operational flexibility for the trust's infrastructure operations.

Maple Infrastructure Trust announced significant board decisions on February 23, 2026, including key leadership appointments and approval of a major ownership restructuring transaction. The board meeting of the Investment Manager was held to address critical governance and strategic matters affecting the trust.

Leadership Appointment

The board approved the appointment of Ms. Deepika Periwal as Chief Financial Officer and Key Managerial Personnel of the Investment Manager, effective February 23, 2026. The appointment was made based on recommendations from both the Nomination and Remuneration Committee and Audit Committee.

Change in Control Transaction

The board approved a significant ownership restructuring involving the Investment Manager. This transaction continues from the share purchase agreement disclosed on December 25, 2025, for the proposed sale of 42.5% equity share capital of the Investment Manager.

Regulatory Approvals and Next Steps

The change in control transaction requires multiple approvals before completion. The board has approved postal ballot notices to seek unitholder approval for the transaction and other related matters.

Required approvals include:

• Unitholders of the Trust approval
• SEBI approval
• Other applicable regulatory approvals
• Third-party approvals

The postal ballot will also seek unitholder approval for revision in remuneration of M/s. S. R. Batliboi & Co. LLP, Chartered Accountants (Firm Registration No. 301003E/E300005), who serve as Statutory Auditors of the Trust.

Meeting Details and Compliance

The board meeting was conducted efficiently, commencing at 12:30 P.M. and concluding at 12:45 P.M. on February 23, 2026. In accordance with SEBI InvIT Regulations, specifically Regulation 9(17) read with Regulation 22(2)(e), Axis Trustee Services Limited, as Trustee of the Trust, will obtain requisite approvals and handle all activities pertaining to the change in control of the Investment Manager.

The decisions align with applicable provisions of Securities and Exchange Board of India (Infrastructure Investment Trusts) Regulations, 2014, and SEBI Master Circular for Infrastructure Investment Trusts dated July 11, 2025.