Exhibit 99.1
Dr. Reddy’s Laboratories Ltd. 8-2-337, Road No. 3, Banjara Hills, Hyderabad - 500 034, Telangana, India. CIN : L85195TG1984PLC004507
Tel :+91 40 4900 2900 Fax :+91 40 4900 2999 Email :mail@drreddys.com www.drreddys.com |
May 1, 2020
The Secretary / Executive Director
BSE Limited
National Stock Exchange of India Ltd.
Dear Sir/Madam,
Sub: Credit Rating
Pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, we wish to inform you that India Ratings and Research (Ind-Ra) has assigned/affirmed the ratings for the following instruments:
Instrument Type | Date of Issuance | Coupon Rate | Maturity Date | Size of Issue (million) | Rating / Outlook | Rating Action |
Long-Term Issuer Rating | - | - | - | - | IND AA+/Stable | Affirmed |
Fund-based working capital limits | - | - | - | INR 100 (increased from INR 80) | IND AA+/ Stable/ IND A1+ | Long-term rating affirmed; short term assigned |
Non-fund-based working capital limits | - | - | - | INR 1,200 (increased from INR 920) | IND AA+ /Stable /IND A1+ | Long-term rating assigned; short-term rating affirmed |
Proposed working capital limits** | - | - | - | INR 4,700 (reduced from INR 5,000) | Provisional IND AA+/Stable/ Provisional IND A1+ | Affirmed |
Commercial paper (CP) | - | - | 7-365 days | INR 8,000 | IND A1+ | Assigned |
** The ratings are provisional and shall be confirmed upon the sanction and execution of the loan documents for the above facilities by DRL to the satisfaction of Ind-Ra.
This is for your information and record.
With regards,
Sandeep Poddar
Company Secretary
CC: New York Stock Exchange Inc., USA