Credit rating agency, Credit Analysis & Research (CARE), has revised credit rating for long term debt instruments issued by Ranbaxy Laboratories from ‘AA+’ to ‘AA’. Long term instruments with ‘AA’ rating are considered to have high degree of safety regarding timely payment of financial obligations and carry very low credit risk.
The credit rating agency has however reaffirmed the ‘A1+’ rating assigned to the short term bank facilities of the company. Short term debt instruments with rating of ‘A1+’ are considered to have very strong degree of safety regarding timely payment of financial obligations and carry lowest credit risk.
Ranbaxy Laboratories is an integrated, research based, international pharmaceutical company producing a wide range of quality, affordable generic medicines, trusted by healthcare professionals and patients across geographies.
