Indigrid Infrastructure Trust has informed the Exchange regarding Credit rating Review on 03/06/2025
Awaiting price reaction for this filing.
IndiGrid Infrastructure Trust received credit ratings from ICRA and India Ratings on June 3, 2025. ICRA reaffirmed AAA/Stable on existing NCDs (₹8,840 Cr), term loan (₹950 Cr), overdraft, bank guarantee, commercial paper (₹500 Cr), and issuer rating, while assigning AAA/Stable to proposed NCDs of ₹3,000 Cr. India Ratings affirmed IND AAA/Stable on bank loan facility (₹3,331 Cr, reduced from ₹3,956 Cr), NCDs (₹7,227 Cr, reduced from ₹7,686 Cr), long-term senior debt, and commercial paper, while assigning IND A1+ to a new CP of ₹25 Cr. All ratings carry a Stable outlook, indicating the highest credit quality with no change in standing.
Reaffirmation of AAA/Stable ratings by both agencies signals continued strong creditworthiness and low default risk for unit holders. The reduction in outstanding bank loan and NCD amounts suggests partial debt prepayment, while new ratings on proposed NCDs (₹3,000 Cr) and CP (₹25 Cr) indicate fresh borrowing capacity being lined up. Overall, this is credit-positive for the trust with no negative implications.