Credit rating agency, ICRA has assigned BBB- rating to the Rs 810.0 crore term loan facilities of Strides Arcolab. The rating agency has also assigned A3 rating to the Rs 125.0 crore short term loan facilities, Rs 250.0 crore fund based facilities and the Rs 135.0 crore non-fund based facilities of the company. The outlook on the long-term rating is stable.
The assigned ratings reflect the company’s strong focus in the niche sterile segment over the years, the traditional pharmaceutical business lending stability to revenues; its healthy track record of ANDA filings and robust product pipeline with large number of United States Food and Drug Administration (USFDA) approved products to be commercialized.
Strides Arcolab is a global pharmaceuticals company headquartered in Banglore, India that develops and manufactures wide range of IP-led niche pharmaceuticals products with an emphasis on sterlite injectables.
