Fitch rates Wockhardt AA-(ind)

Fitch Ratings said it assigned an issuer rating of AA-(ind) with a stable outlook to Wockhardt Ltd., along with an AA-(ind) to its Rs.2,500 million cash credit limits and term loans aggregating Rs.2,500 million, and F1+(ind) to its non-fund based limits of Rs.1,450 million.

The ratings reflect Wockhardt's demonstrated ability to rapidly scale up its business while maintaining stable margins, Fitch said.

The ratings also factor in Wockhardt's emerging presence in the domestic bio-generics space with the supply of three biopharmaceutical products, the agency said.

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