Moody s Investors Service has assigned Ba3 rating to the proposed 7.25-year USD senior secured notes of up to 620 million dollars to be issued by a newly-formed restricted group (RG5) of ReNew Power Pvt Ltd (RPPL). ReNew Wind Energy (AP 2) Pvt Ltd is part of the restricted group. The rating outlook is stable. Formed specifically to facilitate the proposed USD notes, the restricted group comprises 10 wholly-owned restricted subsidiaries of RPPL. Each entity will be liable as an issuer and guarantor for the USD notes. The 10 restricted subsidiaries are ReNew Wind Energy (AP 2), Ostro Jaisalmer, Ostro Urja Wind, Ostro Madhya Wind, Badoni Power, AVP Powerinfra, Prathamesh Solarfarms, Ostro Anantapur, Ostro Mahawind Power, and ReNew Wind Energy Delhi.
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