IREDA | Investor Information

Investor Information / Credit Rating

Summary of Bonds / Bank Loans Rated by Rating Agencies

The Company has raised resources through the issuance of Taxable Bonds, Tax-Free Bonds, and borrowings from banks and financial institutions. In this regard, it has obtained credit ratings from both domestic and international credit rating agencies. The details of ratings assigned by various credit rating agencies in respect of different debt instruments are given below:-

Sl. No.	Rating Agency	Long term Rating on Taxable/Tax free Bonds/ Sub Debts	Long term Rating on Perpetual Debt	Rating on Bank Borrowings *	Rating on ECB Term Loan
1.	ICRA	ICRA AAA (Stable)	ICRA AA+ (Stable)	ICRA AAA (Stable)/ ICRA A1+**	Not Applicable
2.	CARE	CARE AAA (Stable)	Not Applicable	Not Applicable	Not Applicable
3.	India Ratings	IND AAA (Stable)	IND AA+ (Stable)	IND AAA (Stable) / IND A1+**	IND AAA/Stab le
4.	Brickwork Ratings	BWR AAA (Stable)	Not Applicable	Not Applicable	Not Applicable
5.	Acuite Rating	Not Applicable	Not Applicable	ACUITE AAA (Stable)	Not Applicable

*Bank Borrowings includes short-term loans.
**For short-term borrowing from banks.

International credit rating of IREDA:

Sl. No.	Rating Agency	Long Term Issuer Rating	Short Term Issuer Rating	Outlook
1.	S&P Global Ratings Limited	BBB	A-2	Stable

Rating assigned on GOI Fully Serviced Bonds:

Sl. No.	Rating Agency	Instrument	Rating
1	CARE Ratings Limited	GOI Fully Service Bonds	AAA (Stable)
2	India Ratings & Research Private Limited
3	ICRA Limited

Last Updated on 12/06/2026