Hester Biosciences Limited — Credit Ratings, 20-03-2026: Credit Rating

CARE Ratings has downgraded Hester Biosciences' Long-term Bank Facilities to 'BBB; Stable' (from 'BBB+; Stable') and Short-term Bank Facilities to 'A3+' (from 'A2'). This downgrade reflects operational & financial performance. Hester views this as transitional, citing improved margins, debt coverage, and a new vaccine license post-September 2025.