ICRA revises ratings of Anuh Pharma’s bank facilities

Credit rating agency ICRA has revised the rating assigned to the Rs 5.0 crore fund based cash credit facilities of Anuh Pharma to BBB+ from LBBB. The outlook on the long term rating is stable. The rating agency has also revised the rating assigned to the Rs 5.0 crore short term fund based facilities and the Rs 30 crore non-fund based facilities to A2+ from A2. The short term fund based facilities are interchangeable with long term cash credit facilities.

The revision of ratings reflects the healthy growth in the company’s revenues and its strong financial profile underscored by its robust credit protection metrics and comfortable liquidity position.

Anuh Pharma, a part of the SK group of companies is a small-sized player in the API/bulk drug industry and is engaged in manufacturing products such as: erythromycin and its salts, higher macrolides like azithromycin, roxithromycin etc, pyrazinamide and chloramphenicol.