EconomyIndia: The Indian Renewable Energy Development Agency Limited (IREDA) has achieved a significant milestone by obtaining an international credit rating. S&P Global Ratings, an esteemed international credit rating agency, has assigned IREDA a long-term issuer credit rating of ‘BBB-‘ and a short-term issuer credit rating of ‘A-3’ with a ‘stable’ outlook.
This rating will enable IREDA to expand its reach in the international market, leverage attractive funding sources, and support its lending initiatives. In the rating update released today by S&P Global, the agency stated, “We rate IREDA one notch higher than its stand-alone credit profile, reflecting ongoing government support for finance companies (FinCos) in India.”
Expressing his delight over this achievement, IREDA’s Chairman and Managing Director, Mr. Pradip Kumar Das, said, “The international credit rating assigned to IREDA is a testament to our commitment to maintaining the highest standards of corporate governance and earning the trust of our investors and stakeholders. This rating will support our efforts to secure competitive funding and enhance our presence in global markets. We remain focused on maintaining our strong market position, robust financial performance, and exemplary corporate governance to promote sustainable development.”
This development marks a crucial step in IREDA’s strategy to broaden its global footprint and underscores the company’s dedication to supporting India’s renewable energy ambitions through strategic financial management and international cooperation.
