Fitch rates Wanbury loans BBB(ind)

Fitch Ratings said it assigned a national issuer rating of BBB(ind) to Wanbury Ltd., along with a BBB(ind) rating to Wanbury's long-term bank loans aggregating Rs.2,852 million and fund-based cash credit limits of Rs.410 million and F3(ind) to Wanbury's fund-based limits of Rs.140 million and non-fund based limits of Rs.302 million.

The outlook is stable.

The ratings reflect Wanbury's established position in the active pharmaceutical ingredients market with a leading market share in Metformin and Tramadol, Fitch said, and also take into account the established position of its major formulation brands like C-Pink and RabiPlus, as well as the company's growing exports to both the United States and Europe, which have benefited Wanbury's volumes and margins.

The ratings also derive comfort from Wanbury's position as the world's largest Metformin producer, the agency said, and the expectation of comfortable growth in the product on the back of its use in anti-diabetes treatment.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.