Hester Biosciences Ltd. intimated stock exchanges that credit rating agency CARE Ratings Limited has reaffirmed credit for its short-term, and long-term banking facilities.
Hester informed that its Long-term Bank facilities have been assigned a credit rating of A- (pronounced as single A-minus), and for short-term facilities rating was confirmed at A2. For the company’s External Commercial Borrowings (ECB), the ratings will be A- (A minus).
CARE has given a stable outlook for the company’s debt instruments.
Hester is an animal and poultry vaccines manufacturing Company with plants situated in Gujarat and Nepal. The company currently holds more than a 30% share of the poultry vaccines market in India.
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