Ind Ra assigns Biocon credit rating of 'IND AA+' with Stable outlook

India Ratings and Research (Ind-Ra) has assigned Biocon Ltd a Long-Term Issuer Rating of ‘IND AA+’. The Outlook is Stable.

Further, the proposed commercial paper ratings assigned at IND A1+.

As per the rationale report, Ind-Ra has taken a consolidated view of Biocon and its subsidiaries Syngene International Limited (65% shareholding; SYN) and Biocon Biologics Ltd (around 98% shareholding; BBL) to arrive at the ratings, given the strong operational and strategic linkages among them.

The ratings reflect Biocon’s strong positioning in the global biosimilar market with proven expertise in commercialising products in the developed markets of the US and EU.

At around 1:09 PM, Biocon Ltd is currently trading at Rs285.30 per share up by Rs0.85 or 0.3% from its previous closing of Rs284.45 per share on the BSE.

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