Moody’s: Indian Renewable Energy note program Baa3

Moody's Investors Service said it assigned a provisional Baa3 long-term senior unsecured rating and provisional P-3 short-term rating to the $300 million medium-term note program that was established by the Indian Renewable Energy Development Agency Ltd. (local and foreign currency issuer rating: Baa3, standalone credit profile: ba3).

The outlook is stable.

The provisional ratings are in line with Indian Renewable Energy’s Baa3 long-term issuer ratings and reflect the structure of the proposed issuance.

The notes issued under the program constitute the issuer's direct, unconditional, unsubordinated and unsecured obligations. Currencies, interest rate structures, maturities and redemption methods of the notes will be specified in the relevant pricing supplements.

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