Torrent Power Limited — Credit Ratings, 05-02-2026: Credit Rating

India Ratings & Research has assigned 'IND AA+/Stable' to Torrent Power's proposed NCDs of ₹2000 Cr, reaffirmed 'IND AA+/Stable' for existing NCDs of ₹1875 Cr, and affirmed 'IND A1+' for Commercial Paper of ₹1650 Cr. The 'Stable' outlook reflects strong operating performance, a regulated business model, and healthy credit metrics with declining net leverage.