S&P Global Ratings Upgrades IREDA's Long-Term International Credit Rating to 'BBB' with Stable Outlook

Indian Renewable Energy Development Agency Ltd. (IREDA) today received an upgrade in its longterm issuer credit rating from S&P Global Ratings, moving to 'BBB' from 'BBB-', with Stable Outlook. The short-term rating has also been revised to 'A-2' from 'A-3'.

This upgrade brings IREDA's international credit rating in line with India's sovereign credit rating, underscoring the company's strategic importance to the nation's renewable energy mission.

S&P Global Ratings considered IREDA's robust asset quality, sound capitalization and strong liquidity profile as key factors behind the upgrade. The rating enhancement is expected to strengthen IREDA's funding capabilities, reduce its cost of capital and further enhance investor confidence across both equity and debt capital markets, reinforcing its leadership as India's premier green financing institution.

Commenting on the development, Shri Pradip Kumar Das, Chairman & Managing Director, IREDA, said: "We are delighted with this upgrade by S&P Global Ratings, which not only validates IREDA's financial strength but also highlights our critical role in India's renewable energy transition. This alignment with the sovereign rating will enable us to access capital more competitively and deepen investor confidence in our long-term strategy."

Shares of Indian Renewable Energy Development Agency Limited was last trading in BSE at Rs. 153.35 as compared to the previous close of Rs. 153.35. The total number of shares traded during the day was 344751 in over 2880 trades.

The stock hit an intraday high of Rs. 155.70 and intraday low of 153.20. The net turnover during the day was Rs. 53204039.00.

Source : Equity Bulls

Keywords

IndianRenewableEnergyDevelopmentAgency IREDA INE202E01016 FinancialInstitution International CreditRating