Hot Pursuit
SMS Pharmaceuticals Ltd. announced that CARE Ratings Limited has reaffirmed its ratings on various bank facilities, including Long Term Bank Facilities at CARE A; Stable, with the outlook revised from Positive, and Short Term Bank Facilities at CARE A1, alongside enhancements to the Long Term Bank Facilities from 350.87 to 570.07; CARE Ratings also noted a disclaimer pertains to ratings issued and content published, and indicated a surveillance/review is possible annually, with ratings subject to revision or withdrawal based on periodic review. Additionally, the rating agency provided details regarding Term Loans from Export Import Bank of India (amounts of 180.00 and 95.00), Term Loans from Axis Bank Ltd. (38.38), IDBI Bank Ltd. (13.75 and 1.96), State Bank of India (8.38, 2.24), Export Import Bank of India (6.37 and 2.99), and various Fund Based Limits and Standby Lines of Credit from State Bank of India, IDBI Bank Ltd., RBL Bank Limited, Letters of Credit, Bank Guarantees, and Credit Exposure Limits, all totaling facilities of 622.90, while CareEdge Ratings acknowledged that the ratings reflect opinions as on the date of the rating, and CARE Ratings Ltd. has also indicated that the issuer is not cooperating.