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The Indian Renewable Energy Development Agency Limited (IREDA) has achieved a notable milestone by obtaining an international credit rating from S&P Global Ratings. In its recent update, S&P assigned IREDA a long-term issuer credit rating of ‘BBB-’ and a short-term rating of ‘A-3,’ with a Stable Outlook. This rating represents a significant advancement for the agency, marking a step forward in its global financial strategy.

S&P Global’s decision to rate IREDA one notch above the typical starting point for finance companies in India highlights the agency’s strong governmental support and stable operational framework. The rating underscores IREDA’s solid financial foundation and its capacity to manage credit risks effectively, reflecting positively on its long-term sustainability and market positioning

This international credit rating is expected to facilitate IREDA’s efforts to broaden its global reach. By enhancing its ability to access international capital markets, IREDA can tap into a wider array of funding sources, potentially securing more favorable borrowing terms. The rating will support the agency's plans to expand its international footprint and strengthen its role in the global renewable energy sector.

Shri Pradip Kumar Das, Chairman & Managing Director of IREDA, expressed his satisfaction with the rating, emphasizing its significance for the agency’s future. “The international credit rating assigned to IREDA is a testament to our dedication to maintaining high standards of corporate governance and upholding investor trust. This achievement will bolster our efforts to secure funding at competitive rates and enhance our presence in global markets,” Das said. He further reassured stakeholders of IREDA’s commitment to sustaining robust financial performance and exemplary corporate governance.