Max Healthcare and subsidiary credit ratings reaffirmed by CARE Ratings

CARE Ratings Limited has reaffirmed the credit ratings for Max Healthcare Institute Limited. The long-term bank facilities, amounting to ₹1,160.38 Cr. (enhanced from ₹871.01 Cr.), received a "CARE AA+; Stable" rating, while short-term bank facilities of ₹80.00 Cr. were rated "CARE A1+ (A One Plus)". Both ratings for Max Healthcare Institute Limited received a "Reaffirmed" action, bringing the total facilities to ₹1,240.38 Cr.

Additionally, CARE has reviewed the credit ratings of Crosslay Remedies Limited (CRL), a material subsidiary, following its proposed merger into Jaypee Healthcare Limited. CRL's long-term bank facilities of ₹95.67 Cr. were rated "CARE AA+ (RWD) [Double A Plus (RWD)]" and placed on "Rating Watch with Developing Implications." Its short-term bank facilities of ₹45.00 Cr. received a "CARE A1+ (A One Plus)" rating, which was "Reaffirmed." The total facilities for CRL amount to ₹140.67 Cr.