ScoutQuest23 Oct 2026
Torrent Power532779Credit rating maintained/reaffirmed

India Ratings and CRISIL affirm IND AA+/Stable and CRISIL AA+/Stable; ₹2500 crore proposed NCDs rated

By ScoutQuest · · 1 min read

102 (INR billion)Total rated long-term NCD limits (India Ratings
NCDs reaffirmed by India Ratings₹ 7700 Crore
NCDs assigned rating (India Ratings and CRISIL₹ 2500 Crore
Total rated long-term NCD limits (India Ratings 102 (INR billion): NCDs reaffirmed by India Ratings ₹ 7700 Crore, NCDs assigned rating (India Ratings and CRISIL ₹ 2500 Crore.
Rating action
IND AA+/Stable and CRISIL AA+/Stable reaffirmed; IND A1+ and CRISIL A1+ reaffirmed
Proposed NCDs
₹2500 crore proposed NCDs assigned AA+/Stable
Net leverage
2.1x post Nabha Power buy
Agency
India Ratings and Research; CRISIL Ratings
Action
Reaffirmed

India Ratings and CRISIL affirm IND AA+/Stable and CRISIL AA+/Stable; ₹2500 crore proposed NCDs rated.

IND AA+; CRISIL AA+Reaffirmed · India Ratings and Research; CRISIL Ratings
Reaffirmed by India Ratings and Research; CRISIL Ratings · IND AA+; CRISIL AA+ · outlook Stable.
More numbers
  • Proposed NCDs assigned rating (India Ratings and CRISIL)₹ 2500 Crore
  • NCDs reaffirmed by India Ratings₹ 7700 Crore
  • Bank loan facilities and NCDs reaffirmed by CRISIL₹ 8735 Crore
  • Total rated long-term NCD limits (India Ratings)102 (INR billion)
  • Rated short-term commercial paper limits10 (INR billion)
  • EBITDA margins FY2619.1 (%)
Source: BSE · 23 Oct 2026

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