India Ratings and Research assigns A1-plus rating to Dr Reddy's commercial papers
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Mumbai: India Ratings and Research (Ind-Ra) has accorded AA-plus rating to Dr Reddy's Laboratories Ltd's (DRL's) long-term issuer rating with stable outlook and A1-plus to commercial papers.
DRL has 52 subsidiaries and step-down subsidiaries in India and overseas which are engaged in the manufacturing and selling of pharmaceutical formulations.
It has a strong product portfolio and presence across geographies -- the United States (45 per cent of its consolidated FY19 revenue), India (19 per cent), Russia (10 per cent) and rest of the world (26 per cent).
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