Credit rating agency, CARE has reaffirmed ‘BBB-’ rating to Suven Life Sciences’ long term bank facilities worth Rs 138.11 crore which was enhanced from Rs 105.56 crore and ‘A3’ rating to company’s Short term Bank Facilities worth Rs 22.50 crore which was enhanced from Rs 16.50 crore.
The company has received the said rating on the back of its experienced promoter and management team, established track record under CRAMS with reputed clientele, strong Research & Development (R&D) competency, growing scale of operations with improving profitability margins and satisfactory gearing levels over the period.
Suven Life Science is a biopharmaceutical company focused on discovering, developing and commercializing novel pharmaceutical products, which are first in class or best in class CNS therapies through the use of GPCR targets.
