IREDA's IFSC Arm IGGEFIL Secures 'BBB+/Stable' International Rating

IREDA Global Green Energy Finance IFSC Limited (IGGEFIL), a wholly owned subsidiary of Indian Renewable Energy Development Agency Limited (IREDA), today received its inaugural international credit rating from CareEdge Global Ratings.

IGGEFIL has been assigned a Long-Term Foreign Currency Issuer Rating of 'BBB+/Stable', which is at par with India's sovereign rating.

The rating reflects IGGEFIL's institutional linkage with its parent organisation, IREDA, and its strategic role in supporting the renewable energy financing ecosystem.

Shri Pradip Kumar Das, Chairman of IGGEFIL and CMD, IREDA, said the rating strengthens the company's global strategy and enhances its position to access international capital markets for clean energy financing. He added that the rating is expected to help in diversifying funding sources and reducing the cost of borrowing.

Shares of Indian Renewable Energy Development Agency Limited was last trading in BSE at Rs. 109.20 as compared to the previous close of Rs. 114.30. The total number of shares traded during the day was 1220708 in over 8322 trades.

The stock hit an intraday high of Rs. 114.20 and intraday low of 108.70. The net turnover during the day was Rs. 135645195.00.

Source : Equity Bulls

Keywords

IndianRenewableEnergyDevelopmentAgency IREDA INE202E01016 FinancialInstitution IREDAGlobalGreenEnergyFinanceIFSC RatingUpdate