Biocon's debt instruments were rated by India Ratings. New bank loan facilities (550 Cr) were assigned IND AA+/Stable/IND A1+, and proposed commercial paper (800 Cr) received IND A1+. Existing bank loan facilities (450 Cr) were affirmed at IND AA+/Stable/IND A1+, and existing commercial paper (1200 Cr) at IND A1+. Outlook: Stable.