S&P assigns 'BBB-' long-term rating to IREDA, outlook stable Published 3 months ago By SuperAdmin This development is poised to significantly boost IREDA’s capabilities in accessing international markets, thereby supporting its borrowing strategies aimed at tapping into new funding sources.New Delhi: In a notable advancement in the financial sector, the Indian Renewable Energy Development Agency Limited (IREDA) secured an international credit rating from S&P Global Ratings Limited. The agency assigned IREDA a 'BBB-' long-term and 'A-3' short-term issuer credit ratings, with a stable outlook.This development is poised to significantly boost IREDA’s capabilities in accessing international markets, thereby supporting its borrowing strategies aimed at tapping into new funding sources. The stable outlook reflects the agency's confidence in IREDA’s financial stability and the ongoing support from the Indian government."The international credit rating assigned to IREDA is a testament to our commitment to upholding the highest standards of corporate governance and maintaining the trust of our investors and stakeholders," said Pradip Kumar Das, Chairman & Managing Director, IREDA. He added, "This rating will support our efforts to secure funds at competitive rates and enhance our footprint in global markets. We remain focused on maintaining our strong market position, robust financial performance, and exemplary corporate governance to drive sustainable development."S&P Global in its rating update highlighted, "We rate IREDA one notch above our starting point for rating finance companies in India to reflect ongoing government support.” This endorsement underscores IREDA’s enhanced ability to pursue broader international opportunities and attract diverse funding avenues necessary for its expansion plans.
