Cohance Lifesciences Limited has announced the withdrawal of certain credit ratings assigned by CRISIL Ratings Limited, following a request from the company. These withdrawn ratings pertained to lower-limit facilities. The company has clarified that its higher-limit credit facilities are adequately covered by ratings from India Ratings and Research Private Limited, which remain valid. Consequently, this withdrawal is not expected to impact the company’s existing credit facilities or borrowing arrangements.
CRISIL Ratings Withdrawal Announced
Cohance Lifesciences Limited has informed stakeholders about the withdrawal of specific credit ratings previously assigned by CRISIL Ratings Limited. This action, effective August 12, 2026, was initiated at the request of Cohance Lifesciences and pertains to certain lower-limit facilities. CRISIL Ratings has confirmed that the withdrawal is based on the company’s request and following receipt of no-objection certificates from the banks.
Impact on Credit Facilities
The company emphasized that the facilities for which CRISIL ratings have been withdrawn are sufficiently covered by existing credit ratings from India Ratings and Research Private Limited. These ratings from India Ratings remain valid and in force for the company’s higher-limit credit facilities. Therefore, the withdrawal of the CRISIL ratings is not anticipated to have any adverse impact on Cohance Lifesciences’ ongoing credit facilities or its overall borrowing arrangements. The company continues to maintain its credit ratings with India Ratings.
Rating Rationale Context
In a related development, a rating rationale from CRISIL Ratings dated August 12, 2026, indicated that Cohance Lifesciences was classified as an “Issuer not cooperating” entity. The rationale detailed that ratings were migrated to ‘Crisil BB/Stable/Crisil A4+ Issuer not cooperating’ from previous ratings of ‘Crisil AA-/Positive/Crisil A1+’ due to a lack of management interaction and information provision. Despite this, the company stated that its credit ratings from India Ratings are valid and in force.
Source: BSE
