New Delhi, May 19 -- Investment Information and Credit Rating Agency (ICRA) on Monday, revised its outlook for telecom tower industry to stable from negative, helped by the timely payments from key customers, along with the clearance of past over dues, which has eased the receivables cycle of the telecom tower companies.

According to ICRA, the situation has improved drastically "with consistent, timely payments to the tower companies," leading to a reduction in receivable days to around 45-60 days, which is lower than ICRA's negative outlook threshold of 80 days.

"Improvement in the credit profile of some key telecom service providers, who are the customers for tower companies, has eased the working capital cycle of tower companies. Mor...