IREDA Secures International Credit Rating of 'BBB-' with Stable Outlook from S&P Global

S&P Global Ratings Limited has assigned IREDA a 'BBB-' long-term and 'A-3' short-term issuer credit rating, with a Stable Outlook.

Indian Renewable Energy Development Agency Limited (IREDA) has achieved a significant milestone by securing its international credit rating. S&P Global Ratings Limited has assigned IREDA a 'BBB-' long-term and 'A-3' short-term issuer credit rating, with a Stable Outlook.

This rating is expected to enhance IREDA's ability to access international funding sources and support its borrowing plans. S&P Global noted in its rating update that IREDA's rating is one notch above the starting point for Indian finance companies, reflecting ongoing government support.

Shri Pradip Kumar Das, Chairman & Managing Director of IREDA, welcomed the rating, describing it as a testament to the agency's commitment to high standards of corporate governance and investor trust. He emphasized that the rating will help IREDA secure funds at competitive rates and expand its presence in global markets. Das reaffirmed IREDA's focus on maintaining strong financial performance, robust market positioning, and exemplary governance to drive sustainable development.