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Wockhardt gets credit rating upgrade from CARE

CARE Ratings has revised the Company’s Ratings for: 1. Long-Term Bank Facilities (Fund Based)

CARE Ratings has revised the Company’s Ratings for:

1. Long-Term Bank Facilities (Fund Based) upgraded from “CARE BB+; Under credit watch with positive implications” to “CARE BBB-; Stable”; and

2. Short Term Bank Facilities (Non-Fund Based) upgraded from “CARE A4+; Under credit watch with positive implications” to “CARE A3”

CARE Ratings has revised the Company’s ratings on account of improvement in company’s liquidity position over medium term owing to execution of business transfer agreement with Dr. Reddy’s Laboratories Limited in June, 2020.

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