Sun Pharmaceutical Industries Ltd.

Credit rating agency, ICRA has assigned the long-term/short-term rating of AAA/A1+ to the Rs 2000 crore Long-term/Short-term borrowing program of Sun Pharmaceutical Industries. The rating agency has also assigned the short-term rating of A1+ of the enhanced short-term bank facilities, from Rs 600 crore to Rs 2,000 crore to the company. In addition to this, the Rs 2000 crore Commercial Paper programme has been revalidated at A1+ by ICRA.

The assigned rating takes into consideration Sun Pharma’s strong business profile characterised by its leading market position and well established presence in the Indian Pharmaceutical market, its strong presence in U.S. generics segment (along with increasing focus on specialty segments) and financial profile characterised by strong credit metrics and sizeable cash reserves and liquidity.

Sun Pharma is a leading Indian pharmaceutical company engaged in developing, manufacturing and marketing formulations and APIs. Its business is broadly categorized in four segments - India Branded Generics, US Formulations, International Generics or RoW business and APIs.