GUJTHEMGujarat Themis Biosyn Limited
Themis Medicare’s bank facilities downgraded by CARE to BB+ (Stable) and A4+
- Credit rating
- Pharma
Themis Medicare Limited, which filed the intimation on 9 Oct 2026 through its Gujarat Themis Biosyn listing, has told the exchanges that CARE Ratings has downgraded the rating on its bank facilities. Long-term bank facilities of ₹77.39 crore are now CARE BB+; Stable, down from CARE BBB-; Negative, and short-term bank facilities of ₹48.50 crore are now CARE A4+, down from CARE A3.
The company filed CARE’s draft press release along with the intimation, as a request to the exchanges to take note of the rating action.
Inference
The downgrade takes the long-term rating from investment grade to below investment grade on CARE’s scale. The outlook moved from Negative to Stable, which means CARE sees no further downgrade as likely in the near term.
The text reviewed here does not set out the reasons for the downgrade.
Reference: Original filing (PDF)
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