Panacea Biotec Ltd has informed BSE that Credit Analysis & Research Ltd (CARE) has revised credit rating pertaining to Long Term Bank Facilities to ''CARE BB'' (Double B) from ''CARE A-'' (Single A Minus) and to ''CARE A4'' (A Four) from ''CARE A2+'' (A Two Plus) in regard to Short Term Bank Facilities.
''CARE BB'' (Double B) rating is applicable to instruments which are considered to have moderate risk of default regarding timely servicing of financial obligations.
''CARE A4'' (A Four) rating is applicable to instruments having tenure up to one year and are considered to have minimal degree of safety regarding timely payment of financial obligations. Such instruments carry very high credit risk and are susceptible to default.
NSE: PANACEABIO
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