Full Press Release Details
National Stock Exchange of India Ltd. (Stock Code:
BSE Limited (Stock Code: 500124)
New York Stock Exchange Inc. (Stock Code: RDY)
NSE IFSC Ltd. (Stock Code: DRREDDY)
Sub: Disclosure under Regulation 30 of the SEBI
(Listing Obligations and Disclosure Requirements) Regulations, 2015
This is to inform that ICRA Limited has reaffirmed
the credit ratings assigned to the bank facility of the Company. Please find below the details of revision in ratings of the Company's
| Details of Bank Limits Rated by ICRA (Rated on Long-term Scale) | Amount (Rs. Crore) | Rating | Rating Action |
| Fund-based/ non-fund-based limits | |||
| Bank Facilities | 2,000.00 | [ICRA]AA+ (Stable) | Reaffirmed/assigned for enhanced amount |
A copy of the credit rating letter issued by ICRA
This is for your information and record.
For Dr. Reddy's Laboratories Limited
Company Secretary, Compliance Officer & Head-CSR
ICRA/Dr. Reddy's Laboratories Limited/27122024/1
Date: December 27, 2024
Mr. Ashok Kalyan Tavva
Head -Treasury and Finance transformation
Dr. Reddy's Laboratories Limited
8-2-337, Road No. 3, Banjara Hills
Re: ICRA's Credit Rating for below mentioned
Instruments of Dr. Reddy's Laboratories Limited
As per the Rating Agreement/Statement of Work executed
with ICRA Limited, ICRA's Rating Committee has taken the following rating actions for the mentioned instruments of your company.
| Instrument | Rated Amount (Rs. crore) | Rating Action 1 |
| Long Term-Fund Based/Non Fund Based- Others | 2,000.00 | [ICRA]AA+(Stable); Reaffirmed/ Assigned for enhanced amount |
| Total | 2,000.00 |
The aforesaid rating(s) will become due for surveillance
within one year from the date of rating communication letter. However, ICRA reserves the right to review and/or, revise the above rating(s)
at any time based on new information becoming available, or the required information not being available, or other circumstances that
ICRA believes could have an impact on the rating(s). Therefore, request the lenders and investors to visit ICRA website at www.icra.in
for latest rating(s) of the company.
The rating(s) are specific to the terms and conditions
of the instruments as indicated to us by you, and any change in the terms or size of the same would require a review of the rating(s)
by us. In case there is any change in the terms and conditions or the size of the rated instrument, the same must be brought to our notice
before the instrument is used by you. In the event such changes occur after the rating(s) have been assigned by us and their use has been
confirmed by you, the rating(s) would be subject to our review, following which there could be a change in the rating(s) previously assigned.
Notwithstanding the foregoing, any change in the over-all limit of the instrument from that specified in this letter, would constitute
an enhancement that would not be covered by or under the said Rating Agreement.
The rating(s) assigned must be understood solely as
an opinion and should not be treated, or cause to be treated, as recommendation to buy, sell, or hold the rated instrument availed/issued
You are also requested to forthwith inform us about
any default or delay in repayment of interest or principal amount of the instrument rated, as above, or any other debt instruments/ borrowing
and keep us informed of any other developments which may have a direct or indirect impact on the debt servicing capability of the company
including any proposal for re-schedulement or postponement of the repayment programmes of the dues/ debts of the company with any lender(s)
/ investor(s), or occurrence of any significant development that could impact the ability of the company to raise funds such as restriction
imposed by any authority from raising funds through issuance of debt securities through electronic bidding system. Further, you are requested
to inform us immediately as and when the borrowing limit for the instrument rated, as above, or as prescribed by the regulatory authority(ies)
We look forward to your communication and assure you
of our best services.
Srikumar Krishnamurthy
Senior Vice President & Co-Group Head
| Details of Bank Limits Rated by ICRA (Rated on Long-Term Scale) | Amount (Rs. crore) | Rating | Rating Assigned On |
| Fund/ Non Fund- based Limits | |||
| Citibank N.A. | 1,995.00 | [ICRA]AA+(Stable) | December 17, 2024 |
| Proposed | 5.00 | ||
| Total | 2,000.00 |