Torrent Power Limited has received reaffirmed long-term and short-term credit ratings from both India Ratings and Research and CRISIL Ratings. India Ratings assigned a rating of ‘IND AA+/Stable’ to proposed non-convertible debentures and reaffirmed other ratings. CRISIL Ratings also assigned ‘CRISIL AA+/Stable’ to proposed debentures and reaffirmed existing ratings, underscoring the company’s robust financial standing and stable outlook.
Key Credit Rating Updates from India Ratings and CRISIL
On October 23, 2026, Torrent Power Limited announced significant credit rating updates from two major rating agencies, India Ratings and Research (Ind-Ra) and CRISIL Ratings. These updates reflect the company’s consistent financial performance and stable business outlook.
India Ratings and Research Actions
India Ratings and Research, via a letter dated October 23, 2026, assigned a long-term credit rating of ‘IND AA+/Stable’ to proposed non-convertible debentures amounting to ₹2500 Crore. The agency also reaffirmed its rating on the long-term credit rating of non-convertible debentures totaling ₹7700 Crore with the same outlook. Furthermore, India Ratings and Research reaffirmed the short-term commercial paper rating as ‘IND A1+’.
CRISIL Ratings Actions
Similarly, CRISIL Ratings, in its communication dated October 23, 2026, assigned a long-term credit rating of ‘CRISIL AA+/Stable’ to proposed non-convertible debentures of ₹2500 Crore. The agency also reaffirmed its rating on the long-term credit rating of bank loan facilities and non-convertible debentures amounting to ₹8735 Crore with a ‘CRISIL AA+/Stable’ outlook. The short-term bank loan facilities and commercial paper were also reaffirmed as ‘CRISIL A1+’.
Rationale and Attachments
The detailed rationale provided by both India Ratings and Research and CRISIL Ratings for these rating actions has been attached with the disclosure for further information.
The company has requested that these updates be taken on record.
Source: BSE
