CARE upgrades short-term rating to A1 plus; reaffirms long-term at A plus Stable

CARE Ratings has upgraded Corona Remedies' short-term bank facility rating to CARE A1+ (highest grade) from CARE A1, while reaffirming the long-term rating at CARE A+ with a Stable outlook. The upgrade applies to about Rs.70 crore of long-term and short-term bank facilities from ICICI Bank (Rs.50 crore) and Citi Bank (Rs.20 crore). The long-term rating on a Rs.7 crore Citi Bank term loan (reduced from Rs.25 crore as it gets repaid) was reaffirmed. Review was based on audited FY26 and unaudited Q1FY27 results.