India Ratings revises Wockhardt’s bank facilities ratings

29 Aug 2019

Credit rating agency, India Ratings and Research Private has revised Wockhardt’s ratings for short-term Bank facilities / Commercial Paper to ‘A4+’ from ‘A3’; and for long-term loan facilities rating to ‘BB+ / Negative’ from ‘BBB-/Negative’. The agency has revised the rating of the company owing to refinancing risks, R&D expenses, regulatory overhang etc.

Wockhardt is one of the few companies with end to end integrated capabilities for its products, starting with the manufacture of the oral and sterile API’s, the dose forms and marketing through wholly owned subsidiary in the US, enabling the company to capture maximum value.

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