Wednesday, 29 March 2017

Moody's assigns (P)Baa3 ratings to the MTN program of IREDA

Moody's Investors Service, a global rating agency, on Tuesday assigned a (P)Baa3 long-term senior unsecured rating and (P)P-3 short-term rating to the USD 300 million medium-term note (MTN) program that was established by the Indian Renewable Energy Development Agency Limited (IREDA), local and foreign currency issuer rating: Baa3, standalone credit profile: ba3). The rating outlook is stable, said Moody’s. According to Moody’s, the provisional ratings are in line with IREDA's Baa3 long-term issuer ratings and reflect the structure of the proposed issuance.

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