From Fitch Ratings
Fitch Ratings has affirmed Glenmark Pharmaceuticals' Long-Term Issuer Default Rating (IDR) at 'BB'. The Outlook is Stable. The agency has also affirmed Glenmark's USD200 million 4.50% senior unsecured notes due 2021 at 'BB'. The notes are rated at the same level as the IDR because they constitute Glenmark's direct and senior unsecured obligations. At the same time, Fitch has withdrawn the rating on Glenmark's proposed US-dollar bonds assigned in January 2020 as the company chose not to proceed with the offering.Powered by Capital Market - Live News
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