Credit Ratings
Credit Rating
Glenmark Pharmaceuticals LimitedGLENMARK · Filed with the exchange
India Ratings and Research (Ind-Ra) has upgraded Glenmark Pharmaceuticals Limited’s long-term bank loans to ‘IND AA+’ with a Stable Outlook, while affirming the short-term bank loans at ‘IND A1+’. Additionally, the agency has assigned ‘IND AA+/Stable/IND A1+’ ratings to new bank loan facilities worth 4,150 Cr.
The upgrade reflects strengthened financial visibility and a reduced reliance on capital support for its subsidiary, driven by a major licensing deal.
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