Hot Pursuit
Sun Pharmaceutical Industries Ltd announced today that CRISIL Ratings has reaffirmed its ratings on the company, including the long-term rating of "CRISIL AAA/Stable" and the short-term rating of "CRISIL A1+," while simultaneously withdrawing the ratings as they are no longer required by the rated entity; India Ratings & Research (Ind-Ra) has also reaffirmed its ratings, assigning a long-term rating of "IND AAA (Stable)" and a short-term rating of "IND A1+"; furthermore, CARE Ratings has reaffirmed its ratings, maintaining a long-term rating of "CRISIL AAA (Stable)" and a short-term rating of "CRISIL A1+," with a standalone credit watch positive; these ratings cover bank loan facilities aggregating to INR 27,000 crore, commercial paper of INR 2,000 crore, and preference shares amounting to INR 1,000 crore, with the reaffirmations reflecting Sun Pharma’s strong financial risk profile and market position, and the withdrawals by CRISIL are solely due to the company’s request.