Credit Analysis & Research (CARE) has revised credit rating pertaining to Panacea Biotec’s long term bank facilities to B from BB and to A4 from A4 (under credit watch) in regard to short term bank facilities. B rating is applicable to instruments having tenure of more than one year and is considered to have high risk of default regarding timely servicing of financial obligations.
Meanwhile, A4 rating is applicable to instruments having tenure up to one year and is considered to have minimal degree of safety regarding timely payment of financial obligations. Such instruments carry very high credit risk and are susceptible to default.
Panacea Biotec is one of India’s leading research based health management companies with established research, manufacturing and marketing capabilities.
