IREDA’s Credit Rating Upgraded to BBB – A Boost for India’s Green Finance Future

Mumbai: The Indian Renewable Energy Development Agency Ltd. (IREDA) has received an upgrade in its long-term international issuer credit rating from S&P Global Ratings, moving from ‘BBB–’ to ‘BBB’ with a Stable Outlook. The agency’s short-term rating has also been revised from ‘A-3’ to ‘A-2’.

This upgrade aligns IREDA’s international credit rating with India’s sovereign rating, reinforcing the organization’s strategic role in advancing the country’s renewable energy goals.

S&P Global Ratings cited IREDA’s robust asset quality, sound capitalization, and strong liquidity profile as key drivers behind the rating enhancement. The improved rating is expected to bolster IREDA’s ability to raise funds, lower its cost of capital, and increase investor confidence across both equity and debt markets. This further strengthens its position as India’s leading green financing institution.

Commenting on the development, Pradip Kumar Das, Chairman and Managing Director of IREDA, said, “We are delighted with this upgrade by S&P Global Ratings, which not only validates IREDA’s financial strength but also highlights our critical role in India’s renewable energy transition. This alignment with the sovereign rating will enable us to access capital more competitively and deepen investor confidence in our long-term strategy.”