CARE Ratings upgrades IREDA's various instruments to ‘AAA’ with ‘Stable’ outlook

CARE Ratings announced the upgrade of various instruments of Indian Renewable Energy Development Agency Limited (IREDA) to AAA (Stable) from AA+ (Positive)
CARE Ratings upgrades IREDA's various instruments to ‘AAA’ with ‘Stable’ outlook
CARE Ratings upgrades IREDA's various instruments to ‘AAA’ with ‘Stable’ outlookPSU Watch

New Delhi: Rating agency CARE Ratings announced the upgrade of various instruments of Indian Renewable Energy Development Agency Limited (IREDA) to AAA (Stable) from AA+ (Positive). This significant upgrade underscores IREDA’s unwavering commitment to improving its financial performance and upholding the highest standards of corporate governance.

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On this development IREDA's Chairman & Managing Director (CMD) Pradip Kumar Das commented, “The upgrade from AA+ (Positive) to AAA (Stable) is a clear testament to IREDA’s dedication to building a robust financial foundation, achieving excellence, and fostering sustainable growth. This enhanced rating signifies our company’s increased creditworthiness and reduced risk profile, making us a more attractive and reliable NBFC. We believe this upgrade will strengthen investor and stakeholder confidence and open new opportunities for growth. We are grateful for the continued support from the Government of India, our customers, and stakeholders, and we look forward to maintaining our positive momentum.”

Details of the Rating Upgrade by CARE Ratings:

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