Fitch lifts Claris Lifesciences

Fitch Ratings said it upgraded Claris Lifesciences Ltd.'s national long-term rating to A-(ind) from BBB+(ind), along with its Rs. 1.52 billion long-term loans and Rs. 1.81 billion fund-based cash credit limits to A-(ind) from BBB+(ind). Fitch also said it affirmed its Rs. 175 million fund-based limits and Rs. 640 million non-fund based limits at F2+(ind).

The outlook is stable.

The upgrades reflect the company's strong revenue and profitability visibility in high-margin regulated markets, Fitch said, as well as its comfortable credit metrics and established domestic and emerging market businesses.

The ratings continue to factor in its strong focus on the pharmaceutical injectable business, the agency said.

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