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

This upgrade brings IREDA’s international credit rating in line with India’s sovereign credit rating, reaffirming its strategic significance in advancing the nation’s renewable energy mission.

According to S&P Global Ratings, the rating improvement reflects IREDA’s robust asset quality, strong capitalization, and healthy liquidity position. The enhanced rating is expected to strengthen IREDA’s global funding capabilities, reduce its cost of capital, and boost investor confidence across both equity and debt markets, further reinforcing its leadership as India’s premier green financing institution.

Commenting on the development, Pradip Kumar Das, Chairman & Managing Director, IREDA, said, “We are delighted with this upgrade by S&P Global Ratings, which validates IREDA’s financial strength and underscores our pivotal 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 growth strategy.”