Nicholas Piramal, SPPL debt programmes reaffirmed A1+

Mumbai: ICRA has reaffirmed the `A1+' rating assigned to the Rs 200-crore and Rs 30-crore short-term debt programmes of Nicholas Piramal India Ltd (NPIL) and Sarabhai Piramal Pharmaceuticals Ltd (SPPL), respectively.

The rating, indicating the highest safety in the short-term, has been reaffirmed after analysing the impact of the buy-out of the partners' 50 per cent stake in SPPL for Rs 69.30 crore by NPIL, an ICRA statement here said.