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Entity-Specific Rating Rationales

31 Mar 2026

REC Limited: [ICRA]AAA (Stable)/[ICRA]A1+ assigned, ratings reaffirmed and rated amount enhanced

REC Limited: [ICRA]AAA (Stable)/[ICRA]A1+ assigned, ratings reaffirmed and rated amount enhanced

27 Mar 2026

REC Limited: Ratings reaffirmed; rated amount enhanced, ratings withdrawn for matured instruments

REC Limited: Ratings reaffirmed; rated amount enhanced, ratings withdrawn for matured instruments

28 Mar 2025

REC Limited: Ratings reaffirmed; rated amount enhanced

REC Limited: Ratings reaffirmed; rated amount enhanced

02 Apr 2024

REC Limited: Ratings reaffirmed; rated amount enhanced

REC Limited: Ratings reaffirmed; rated amount enhanced

13 Dec 2023

REC Limited: [ICRA]AAA (Stable) assigned; earlier ratings reaffirmed

REC Limited: [ICRA]AAA (Stable) assigned; earlier ratings reaffirmed

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Entity-Specific Credit Perspective Reports

06 May 2026

REC Limited

REC Limited (Non-SF)

01 May 2025

REC Limited

REC Limited (Non-SF)

08 Jan 2024

REC Limited

REC Limited (Non-SF)

Ratings

Description
Short Term
Medium Term
Long Term
Issuer
Borrowing Programme [ICRA]A1+ -- -- --
Long-term/Short-term – Fund-based/Non-fund based – Others [ICRA]A1+ -- [ICRA]AAA(Stable) --
Bonds/NCD/LTD -- -- [ICRA]AAA(Stable) --
Borrowing Programme -- -- [ICRA]AAA(Stable) --
Borrowing Programme -- -- [ICRA]AAA(Stable) --
Borrowing Programme -- -- [ICRA]AAA(Stable) --
Borrowing Programme [ICRA]A1+ -- -- --
Borrowing Programme Withdrawn -- -- --
Borrowing Programme Withdrawn -- -- --
LT-Market Linked Debenture -- -- Withdrawn --

Our Analysts

Analyst 1

Mishi Yadav

Analyst 2

Sandeep Sharma

Sector Head

Karthik Srinivasan
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