Piramal Healthcare has received A1+ rating from rating agency ICRA for its enhanced Rs 3,500 crore worth of Commercial Paper (CP)/ Short Term Debt (STD) programme of the company. The rating agency also has an outstanding rating of AA rating on Rs 150 crore Non Convertible debenture (NCD) programme and Rs 300 crore long term fund based limits. The long term rating carries stable outlook.
Further, ICRA has A1+ rating outstanding on Rs 300 crore short term non-fund based limit and Rs 200 crore short term fund based limits. The fund based facilities are interchangeable between long-term and short-term exposures and the total fund based utilization should not exceed Rs 300 crore
The company has received the said ratings on the back of its strong and experienced management team with track record of successfully scaling up businesses and generating adequate returns.
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