India Ratings revises Outlook on Glenmark Life Sciences' Bank Loans to Positive, affirms 'IND AA-'

India Ratings and Research (Ind-Ra) has taken the following rating actions on Glenmark Life Sciences Limited's (GLS) bank facilities.

Ind-Ra has revised its rating approach for GLS to standalone from the bottom-up approach, given that the company is now 75% held by Nirma Limited (Nirma, 'IND AA'/Stable) and is no longer a subsidiary of Glenmark Pharmaceuticals Limited (GPL; 'IND AA'/Stable).

Source : Equity Bulls

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