Following the update of the Business Plan to 2030 and the presentation of the economic and financial results, both rating agencies deemed there were conditions to revise upwards the rating or outlook for the Iren Group's long-term creditworthiness and senior unsecured debt. In particular, S&P improved the rating to "BBB" Outlook "Stable" from the previous "BBB-" Outlook “Positive", while Fitch confirmed the rating at BBB, increasing the Outlook to "Positive" from "Stable".

On May 11, 2023 Fitch Ratings announced an upward revision of Iren Group’s Outlook to “Positive” from “Stable”, while confirming its rating at “BBB” both for long-term creditworthiness and senior unsecured debt. The Outlook revision is driven by Iren's improving position on its financial metrics and the rating reflects the well-integrated and balanced business mix of the Group predominantly exposed to regulated and quasi-regulated activities, which allows stable performance in the current volatile energy market. Fitch also expresses a positive view on the Group's state of good liquidity.

April 27, 2023, Standard & Poor's Global Ratings Agency (S&P) announced an upward revision of its rating for the long-term creditworthiness of the Iren Group to "BBB" Outlook "Stable" from the previous "BBB-" Outlook "Positive". The same rating is also given to senior unsecured debt. The rating upgrade by S&P analysts reflects the resilience of the Group's business model demonstrated during 2022 and the update of the strategic plan at 2030, that includes significant positioning in regulated businesses to support stable future cash flows. The Stable Outlook also reflects S&P analysts' expectations of Iren's management's commitment to maintain its current rating level and balanced financial policy. From a financial perspective, the assigned rating also expresses the Group's state of good liquidity, with strong credibility in the capital market.