Credit rating agency, CARE has revised rating of Vivimed Labs’ long term bank facilities worth Rs 72.36 crore to ‘BB+’ from ‘BBB-’. The rating agency has also revised rating of company’s short term bank facilities worth Rs 166.00 crore to ‘A4+’ from ‘A3’. The revision in the ratings assigned to the bank facilities of Vivimed Labs is on account of deterioration in the liquidity position of the company, leveraged capital structure, stressed debt service indicators with high repayment obligations in the medium term and decline in profitability margins in FY14 (refers to the period April 1 to March 31).
Vivimed Labs (VLL) is a listed company engaged in the business of manufacturing products (active ingredients, formulations, etc) for pharmaceutical, personal care and colour chemistry industry. VLL (Consolidated) has manufacturing facilities in India and Overseas.
