S&P upgrades IREDA long-term international credit rating to BBB
IREDA · price
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On the reaction day the stock moved 1.2 pts less than Nifty Midcap 150 and 0.7 pts less than its Financial Institution peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.
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S&P Global Ratings upgraded IREDA's long-term international issuer rating to BBB from BBB- with a stable outlook. The short-term rating rose to A-2 from A-3, supported by strong asset quality, capitalization and liquidity. IREDA expects improved funding access and lower capital costs.
The upgrade may reduce borrowing costs, improve funding access and strengthen investor confidence in IREDA's debt and equity.