Cipla Ltd.

Credit rating agency, India Ratings & Research has affirmed Cipla’s long-term issuer rating at ‘AAA’ with a stable outlook. The rating agency has also affirmed the company’s Rs 1000 crore commercial paper/short-term debt programme at ‘A1+’.

Meanwhile, the rating agency has withdrawn the ‘AAA(exp)’ rating assigned to Cipla’s proposed Rs 2000 crore non-convertible debenture issuance (NCD) programme on September 24, 2013 since the company has not proceeded with the issuance.

The ratings reflect the company’s strong business profile as a leading generics player in the domestic market. Cipla’s domestic product sales account for 45% of the turnover while exports account for 55% presently.

Cipla has emerged as one of the most respected pharmaceutical names in India as well as across more than 170 countries. Its portfolio includes 2000 products in 65 therapeutic categories with one quality standard globally.