ICRA Limited ("Credit Rating Agency") has upgraded the long-term rating to [ICRA] A+ (pronounced ICRA A plus) ("Rating") from [ICRA] A (pronounced ICRA A) ("Rating") and reaffirmed the short-term rating at [ICRA]A1 for facilities of Windlas Biotech Limited as per the letter dated September 21, 2021.
The outlook on the long-term rating remains Stable. Instruments with [ICRA] A+ Rating are considered to have adequate degree of safety regarding timely servicing of financial obligations. Such instruments carry low credit risk. Instruments with [ICRA] A1 rating are considered to have very strong degree of safety regarding timely payment of financial obligations. Such instruments carry lowest credit risk.