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CARE BBB- rating assigned to proposed NCD issue of Wockhardt Limited
Posted On: 2021-04-06 05:13:59 (Time Zone: Arizona, USA)
CARE Ratings Limited (CARE Ratings) has assigned Wockhardt Limited s proposed Non-Convertible Debenture issue aggregating to Rs. 200 crore a rating of CARE BBB-; Stable (Triple B Minus; Outlook: Stable) .
The rating assigned to proposed non-convertible debenture issue factors in improvement in company s liquidity position post closure of sale of select divisions of domestic formulations business to Dr. Reddy s Laboratories Limited (DRL). The company received Rs. Rs.1483 crore upfront and Rs.67 crore were deposited in Escrow account out of which Rs.54 crore have been credited to WL in Q1FY21 which has improved company s liquidity position over medium term. The rating continues to derive strength from established track record of company in global pharmaceutical industry as well as experienced and resourceful promoters. WL s rating also derive strength
CARE revises rating of PNC Bareilly Nainital Highways Private Limited
Posted On: 2021-04-01 22:49:21 (Time Zone: Arizona, USA)
Care Ratings Limited has revised credit rating on the bank facilities of PNC Infratech Limited s Subsidiary, PNC Bareilly Nainital Highways Private Limited.
The rating on Long-Term Bank Facilities of Rs. 330.25 crore (Reduced from Rs. 415.38 crore) has been revised from CARE BBB; Stable (Triple B; Outlook: Stable) to CARE BBB+; Stable (Triple B Plus; Outlook: Stable).
Shares of PNC Infratech Ltd was last trading in BSE at Rs.257.3 as compared to the previous close of Rs. 257.4. The total number of shares traded during the day was 62034 in over 1061 trades.
CARE revises ratings of Kanoria Chemicals & Industries Limited
Posted On: 2021-03-09 01:58:31 (Time Zone: Arizona, USA)
Care Ratings Limited has revised the rating for the long-term bank facilities of Kanoria Chemicals & Industries Limited as CARE A- (Single A Minus) from the existing rating of CARE A (Single A) and rating for the short-term bank facilities as CARE A2+ (A Two Plus) from the existing rating of CARE A1(A One).
Shares of KANORIA CHEMICALS & INDUSTRIES LTD. was last trading in BSE at Rs.95.45 as compared to the previous close of Rs. 91.1. The total number of shares traded during the day was 24978 in over 198 trades.