Fortis Healthcare Limited has informed the Exchange regarding 'reaffirmation of Credit Rating'.
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CRISIL Ratings has reaffirmed Fortis Healthcare's credit ratings on its bank facilities (Rs 425.98 crore) and non-convertible debentures (Rs 1,550 crore) at 'CRISIL AA+/Stable' for the long term and 'CRISIL A1+' for the short term. The reaffirmation maintains the upgraded status that CRISIL had assigned in September 2025, when the long-term rating was lifted from AA/Stable to AA+/Stable. The rating is supported by strong financial performance — H1 FY26 revenue grew 17% year-on-year to Rs 4,498 crore, with EBITDA margin improving 300 basis points to 23.3%. Fortis operates 33 hospitals across India with 5,700+ beds, and revenue is projected to cross Rs 10,000 crore over the medium term. Despite acquisition-related debt pushing gross debt to about Rs 3,195 crore, gearing is expected to stay below 0.6 times and net debt/EBITDA below 1.5 times.
The reaffirmation of a high investment-grade rating (AA+/Stable) signals continued financial strength and is a positive for shareholders, supporting easier and cheaper access to debt. Watch items for investors include pending litigations, regulatory risks, and sizeable debt-funded acquisitions, any of which could pressure the rating.