Ipca Laboratories ratings affirmed for bank facilities and paper

Ipca Laboratories announced that India Ratings & Research, a Fitch Group Company, has affirmed its ratings for the company's financial instruments. The ratings include an IND A1+ for Commercial Paper, based on an issue size of INR 500 million. Ratings were also affirmed for fund and non-fund-based working capital limits (IND AA+/Stable / IND A1+) relating to an issue size of INR 20,150 million, long-term loans due on 27.03.2028 (IND AA+/Stable) relating to an issue size of INR 3787.3 million (reduced from INR 5185.6 million) and proposed long term loans (IND AA+/Stable) relating to an issue size of INR 2,000 million. The company confirmed that the commercial paper is not carved out of Ipca's fund-based working capital limits.