Mankind Pharma announced the withdrawal of the credit rating for its commercial paper, amounting to ₹3,500 crore, following a request to ICRA Limited. However, other outstanding ratings remain, including ₹5,000 crore in Non-Convertible Debentures rated (ICRA) AA+/Stable, ₹1,500 crore in Commercial Paper rated (ICRA) A1+, and ₹1,250 crore in Long-term/Short term fund based limits rated (ICRA)AA+ (Stable)/(ICRA)A1+.
Credit Rating Withdrawal
Mankind Pharma has withdrawn the credit rating for its commercial paper amounting to ₹3,500 crore. The withdrawal was executed via a letter dated November 13, 2025, following a request made to ICRA Limited.
Outstanding Credit Ratings
Despite the withdrawal, Mankind Pharma retains several outstanding credit ratings for other instruments:
- Non-Convertible Debentures: ₹5,000 crore, rated (ICRA) AA+/Stable.
- Commercial Paper: ₹1,500 crore, rated (ICRA) A1+.
- Long-term/Short term fund based limits: ₹1,250 crore, rated (ICRA)AA+ (Stable)/(ICRA)A1+.
These ratings reflect the company’s creditworthiness and financial stability as assessed by ICRA. The ratings for Non-Convertible Debentures and Long-term/Short term fund based limits are categorized as ‘Outstanding’, indicating a favorable assessment.
Source: BSE