Fitch Ratings affirms Issuer Default Rating of Jubilant Pharma Ltd

Fitch Ratings has affirmed the Issuer Default Rating ('IDR') of Jubilant Pharma Limited ('JPL'), the wholly owned subsidiary of the Company, at 'BB' and has revised the Outlook on JPL's Long-Term IDR to Negative, from Stable. Fitch Ratings has also affirmed JPL's senior unsecured rating and the rating on its USD200 million 6.00% senior unsecured notes due 2024 at 'BB'. Fitch Ratings has cited that Negative Outlook reflects its expectation of lower profitability and increase in leverage of JPL. The Company has received the Rating Action Commentary from Fitch Ratings on February 15, 2022.

Shares of Jubilant Pharmova Limited was last trading in BSE at Rs. 446.10 as compared to the previous close of Rs. 452.50. The total number of shares traded during the day was 18392 in over 1281 trades.

The stock hit an intraday high of Rs. 458.00 and intraday low of 444.10. The net turnover during the day was Rs. 8316334.00.

Source : Equity Bulls

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JubilantPharmova INE700A01033 RatingUpdate