Credit rating agency, India Ratings & Research (India Ratings), a Fitch Group Company, has upgraded Strides Arcolab’s long-term issuer rating to ‘BBB+’ from ‘BBB-’ with stable outlook.
The upgrade reflects the agency’s expectation of a sustained improvement in the company’s financial leverage (adjusted debt / EBITDA) in the medium term.
Strides Arcolab is a global pharmaceutical company headquartered in Bangalore, India that develops and manufactures wide range of IP-lead niche pharmaceutical products with an emphasis on sterile injectables.
