IREDA

Credit Rating

Summary of Bonds / Bank Loans Rated by Rating Agencies

The Company has raised resources by issue of taxable/tax-free/ bank loans for which it has obtained ratings for these issuances from Domestic and international rating agencies. The details as at 31 March 2025 are as under: -

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

*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-3	Stable

Rating assigned on GOI Fully Serviced Bonds:

Rating Agency	Instrument/Purpose/Issue	Rating
CARE Ratings Limited	GOI Fully Service Bonds	AAA, Stable
India Ratings & Research Private Limited
ICRA Limited

Last Updated on 24/04/2025

Credit Rating

Investor Information

Summary of Bonds / Bank Loans Rated by Rating Agencies