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IREDA

Credit Rating

Summary of Bonds / Bank Loans Rated by Rating Agencies

Rating Agency Instrument/Purpose/Issue Rating Date of issue/surveillance of rating
ICRA Limited Tax-free bonds (₹ 20000 million) Fiscal 2015-16 ICRA AA+ (Negative) Reaffirmed December 30, 2020
Taxable Green bonds (₹ 7000 million) Fiscal 2016-17 ICRA AA+ (Negative) Reaffirmed December 30, 2020
GOI Fully Serviced Bonds (₹ 16400 million) Fiscal 2016-17 ICRA AAA (Stable) Reaffirmed December 30, 2020
India Ratings Research Private Limited Tax-free bonds (₹ 20000 million) Fiscal 2015-16 IND AA+ (Stable) Affirmed December 4,2020
Taxable Green bonds (₹ 7000 million) Fiscal 2016-17 IND AA+ (Stable) Affirmed December 4,2020
Taxable Bonds (₹ 8650 million) Fiscal 2018-19 IND AA+ (Stable) Affirmed December 4,2020
Taxable Tier-II Sub Debt (₹ 1500 million) Fiscal 2018-19 IND AA+ (Stable) Affirmed December 4,2020
GOI Fully Serviced Bonds (₹ 16400 million) Fiscal 2016-17 IND AA+ (Stable) Affirmed December 4,2020
Taxable Bonds (Rs. 18030 Million) Fiscal 19-20 Series IX-A & IX-B IND AA+ (Stable) Affirmed December 4,2020
Taxable Tier-II Sub Debt (Rs. 50,000 Lakhs) Fiscal 20-21 Series X IND AA+ (Stable) Affirmed December 4,2020
CARE Ratings Limited Taxable Bonds Series III-B IV & V CARE AAA (CE), Stable September 29, 2020
Tax Free Bonds Series-XIII CARE AAA (CE), Stable September 29, 2020
Taxable Green bonds Sr. VIIA & VIIB (₹7000 million) Fiscal 2016-17 CARE AA+, Stable September 29, 2020
GOI Fully Serviced Bonds (₹ 16400 million) Fiscal 2016-17 CARE AAA, Stable September 29, 2020
Brickwork Ratings  Long Term Taxable Bonds Series II, III, IV & V BWR AAA (CE), Negative Reaffirmed November 25,2020
Tax Free Bonds Series-XIII BWR AAA (CE), Negative Reaffirmed November 25,2020
Taxable Bonds (₹ 8650 million) Fiscal 2019 BWR AAA , Negative Reaffirmed November 25,2020
Taxable Tier-II Sub Debt (₹ 1500 million) Fiscal 2018-19 BWR AAA , Negative Reaffirmed November 25,2020
Taxable Bond (Rs. 180,300 Lakhs) Fiscal 19-20 Series IX-A & IX-B BWR AAA , Negative Reaffirmed November 25,2020
Taxable Tier-II Sub Debt (Rs. 50,000 Lakhs) Fiscal 20-21 Series X BWR AAA , Negative Reaffirmed November 25,2020

A) Bank loans

Rating agency Rating Term loans Issue date

Brickworks Rating

BWR AAA

Pronounced BWRTriple A)

Outlook: Negative

  • Term loan rated total of Rs. 270,000 Lakhs. Details of the allocation;
  • HDFC Term loan : Rs. 20,000 Lakhs.
  • SBI Term Loan : Rs. 100,000 Lakhs.
  • Canara Bank : Rs. 50,000 Lakhs.
  • Bank of Baroda : Rs. 100,000 Lakhs.
  • Additional Term Loan aggregating to Rs. 2000 crores rated in FY 20-21 (for proposed bank borrowings)

November 25,2020

India Ratings Research Private Limited IND AA+ (Stable) Assigned Proposed Bank Loan for FY 20-21 (Rs. 200,000 Lakhs) December 4,2020

B) Masala Bonds

Rating Agencies Long Term Issuer rating Instrument Amount Raised Surveillance date

Moody’s Rating

Baa3, negative

Masala Bond

 

USD 300 Million

November 18,2020

Fitch Rating

BB+, Negative

Masala Bond

USD 300 Million

December 9,2020

 
Last Updated on 13/01/2021
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