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CARE revises credit rating for bank facilities of Orchid Pharma; Stock ends 2% lower

The rating on long-term bank facilities of the company has been revised to CARE BBB -; Stable.

September 30, 2021 4:30 IST | India Infoline News Service
CARE Ratings Limited has revised/assigned its rating for the bank facilities of Orchid Pharma Limited.

The rating on long-term bank facilities Rs186cr (reduced from Rs427cr) has been revised from CARE BB+; Stable to CARE BBB-; Stable. On short-term bank facilities Rs50cr, the credit rating agency has revised CARE A4+ to CARE A3.

Meanwhile for long-term bank facilities Rs75cr CARE BBB-; Stable has been assigned by CARE Ratings.

Orchid Pharma Ltd ended at Rs423.95 per piece down by Rs8.55 or 1.98% from its previous closing of Rs432.50 per piece on the BSE.

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