The Indian Renewable Energy Development Agency Limited (IREDA) has reached a significant milestone by obtaining its first 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 markets, opening doors to attractive funding opportunities and supporting its borrowing plans. In its rating update, S&P Global highlighted that IREDA’s rating is one notch higher than the baseline for financial companies in India, reflecting ongoing government support.
Shri Pradip Kumar Das, Chairman & Managing Director of IREDA, expressed his satisfaction with the achievement, stating, “The international credit rating is a testament to our dedication to maintaining high standards of corporate governance and the trust of our investors and stakeholders. This rating will help us secure funds at competitive rates and expand our presence in global markets. We remain committed to sustaining our strong market position, robust financial performance, and exemplary corporate governance to drive sustainable development.”
