Medicorp Tech CP gets Ind D1

FITCH ratings India has assigned `Ind D1' (Ind D one) rating to the Rs. 5 crore commercial paper programme of Medicorp Technologies India (MTIL). The rating indicates very high certainty of timely payment. Liquidity factors, including internal operating factors and access to alternative sources of funds, are excellent and supported by good fundamental protection factors. Risk factors are minor.

MTIL manufactures and markets bulk drugs and drug intermediates. The state-of-the-art plant, conforming to international quality standards, can handle a range of product mixes, which could be changed at relatively short notice. MTIL has mitigated the market risk by entering into tie-ups with multi-national innovator and generic companies in the U.K. and Canada, for supplying its products. Majority (88 per cent) of the company's sales are from exports.

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Section  : Business
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