Biocon has announced updates to the credit ratings of its debt instruments, as per a release dated December 9, 2025. India Ratings has assigned ratings of IND AA+/Stable/IND A1+ to bank loan facilities (INR 5,500 million) and IND A1+ to proposed commercial paper (INR 8,000 million). Additionally, ratings were withdrawn for non-convertible debentures (INR 10,700 million) and ratings were affirmed for bank loan facilities (INR 4,500 million) as IND AA+/Stable/IND A1+.
Credit Rating Actions
India Ratings has taken the following actions on Biocon’s debt instruments:
Bank Loan Facilities
For bank loan facilities with an issue size of INR 5,500 million, a rating of IND AA+/Stable/IND A1+ has been assigned.
Proposed Commercial Paper
For proposed commercial paper with an issue size of INR 8,000 million, a rating of IND A1+ has been assigned.
Non-Convertible Debentures
The rating for non-convertible debentures amounting to INR 10,700 million has been withdrawn, as the instrument has been paid in full, and a no-dues certificate has been received. This aligns with India Ratings’ policy on Withdrawal of Ratings.
Affirmed Bank Loan Facilities
The ratings for bank loan facilities of INR 4,500 million have been affirmed at IND AA+/Stable/IND A1+.
Source: BSE