ICRA reaffirms ratings of Biocon’s bank facilities

Credit rating agency, ICRA has reaffirmed the ‘AA+’ rating outstanding on the Rs 20 crore fund based facilities and Rs 27 crore non-fund based facilities of Biocon. The outlook on the long term rating is stable. The rating agency has also reaffirmed the ‘A1+’ rating outstanding on the Rs 203 crore (inter fund based changeable) facilities of Biocon.    The reaffirmation in ratings continues to take into account the company’s strong business profile with an integrated presence spanning research and development (R&D), manufacturing and marketing, the company’s comfortable financial position and its diversified revenue stream. Biocon is India’s largest and Asia's leading biotechnology company with a strategic focus on biopharmaceuticals and research services. It is a fully integrated, innovation-driven biopharma enterprise offering affordable solutions for chronic diseases to patient's worldwide.