CARE reaffirms credit ratings of Wockhardt's bank facilities and NCDs

Short Term Bank Facilities (Non-Fund Based) of Rs307.80cr reaffirmed as “CARE A3”.

Sep 07, 2021 10:09 IST India Infoline News Service

Wockhardt Ltd has informed that CARE Ratings Limited has assigned CARE BBB-; Stable for the Non-Convertible Debentures aggregating upto Rs50cr proposed to be issued by the Company and also reaffirmed the Company’s Ratings for:
  • Long-Term Bank Facilities (Fund Based) of Rs700cr as “CARE BBB-; Stable”;
  • Short Term Bank Facilities (Non-Fund Based) of Rs307.80cr as “CARE A3” ; and
  • Non-Convertible Debenture of Rs200cr as “CARE BBB-; Stable”
According to the rationale, the reaffirmation of the ratings assigned to the bank facilities and non-convertible debentures (NCDs) of Wockhardt Limited factors in considerable reduction in term debt on receipt of Rs1,533cr in FY21.

The ratings are tempered by moderation in operating performance during FY21.

At around 10:05 AM, Wockhardt was trading at Rs412.50 per piece down by Rs3.8 or 0.91% on Sensex.

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