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Entity-Specific Rating Rationales

30 Apr 2026

Ayana Renewable Power Private Limited: Ratings reaffirmed and assigned for enhanced amount

Ayana Renewable Power Private Limited: Ratings reaffirmed and assigned for enhanced amount

25 Nov 2025

Ayana Renewable Power Private Limited: Change in limits; rating withdrawn for Rs. 150.0 crore NCD programme

Ayana Renewable Power Private Limited: Change in limits; rating withdrawn for Rs. 150.0 crore NCD programme

27 May 2025

Ayana Renewable Power Private Limited: Long-term rating upgraded to [ICRA]AA+ (Stable) and removed from Watch with Positive Implications; Stable outlook assigned; short-term rating reaffirmed

Ayana Renewable Power Private Limited: Long-term rating upgraded to [ICRA]AA+ (Stable) and removed from Watch with Positive Implications; Stable outlook assigned; short-term rating reaffirmed

26 Mar 2025

Ayana Renewable Power Private Limited: Rating assigned for proposed NCD programme; long-term rating continues on watch with positive implications; short-term rating reaffirmed

Ayana Renewable Power Private Limited: Rating assigned for proposed NCD programme; long-term rating continues on watch with positive implications; short-term rating reaffirmed

21 Feb 2025

Ayana Renewable Power Private Limited: Long-term rating placed on watch with positive implications; short-term rating outstanding

Ayana Renewable Power Private Limited: Long-term rating placed on watch with positive implications; short-term rating outstanding

02 Dec 2024

Ayana Renewable Power Private Limited: Rating assigned for enhanced bank limits and reaffirmed for existing instruments

Ayana Renewable Power Private Limited: Rating assigned for enhanced bank limits and reaffirmed for existing instruments

05 Sep 2024

Ayana Renewable Power Private Limited: Ratings reaffirmed

Ayana Renewable Power Private Limited: Ratings reaffirmed

14 Jul 2023

Ayana Renewable Power Private Limited: Ratings reaffirmed

Ayana Renewable Power Private Limited: Ratings reaffirmed

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Entity-Specific Credit Perspective Reports

12 Jun 2026

Ayana Renewable Power Private Limited

Ayana Renewable Power Private Limited (Non-SF)

30 Jun 2025

Ayana Renewable Power Private Limited

Ayana Renewable Power Private Limited (Non-SF)

10 Oct 2024

Ayana Renewable Power Private Limited

Ayana Renewable Power Private Limited (Non-SF)

11 Aug 2023

Ayana Renewable Power Private Limited

Ayana Renewable Power Private Limited (Non-SF)

Ratings

Description
Short Term
Medium Term
Long Term
Issuer
Long-term/Short-term – Non-fund based – Others [ICRA]A1+ -- [ICRA]AA+(Stable) --
Long-term – Fund-based – Term Loan -- -- [ICRA]AA+(Stable) --
Long-term/Short-term – Unallocated limits – Unallocated limits [ICRA]A1+ -- [ICRA]AA+(Stable) --
Short-term – Fund-based – Others [ICRA]A1+ -- -- --
Short-term – Fund-based/Non-fund based – Others [ICRA]A1+ -- -- --
Non Convertible Debenture -- -- Withdrawn --

Our Analysts

Analyst 1

Arnav Gandhi

Analyst 2

Rachit Mehta 2

Sector Head

Girish kumar Kadam
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Beyond renewables - Investment outlook and emerging role of thermal power

Girishkumar Kadam,Ankit Jain,Asmita Pant

07 May 2026 04:00 PM

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West Asia Crisis-Impact and Outlook on Oil & Gas and downstream sectors

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