Announcement regarding upgradation of ratings assigned to its bank facilities by Infomerics Valuation and Rating Ltd.The upgrade reflects the company''s strong financial performance and ....
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Fredun Pharmaceuticals Ltd has received a credit rating upgrade from Infomerics Valuation and Rating Ltd. Its long-term bank facility rating has been raised from IVR BBB-/Stable to IVR BBB/Stable, with the combined long-term/short-term facility now rated IVR BBB/Stable and IVR A3+. The total bank facilities rated amount to Rs. 139.64 crore. The upgrade is driven by a 26.38% year-on-year growth in total operating revenue, a comfortable gearing ratio, and a diversified product portfolio spanning 23 therapeutic classes with exports to over 46 countries. The outlook has been kept stable, reflecting the company's strong financial position and favourable industry conditions.
The rating upgrade signals improved creditworthiness, which may help the company access funds at lower borrowing costs in the future. For shareholders, this is a positive indicator of financial health and operational strength, though it may not have an immediate impact on stock price.