Astra-IDL fixed deposit programme gets FAA rating
By Our Corporate Bureau | 23 Mar 2000
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- Fixed deposit programme Rating : FAA
A FAA (pronounced F double A) rating has been assigned to the Fixed Deposit programme of Astra-IDL Limited (Astra-IDL).
The rating factors in strength arising out of strong brands in chosen therapeutic segments, integrated operations, cGMP compliant facilities and highly favourable financial profile. These strengths are off-set by the decision of AstraZeneca to pull out of the venture leading to, among others, phasing out of the major brands of the company by December 2004 and limited therapeutic coverage.
In the nine months ended December 1999, the company has recorded a net profit of Rs 70 million on a income of Rs 789.9 million.
