Fitch Ratings revises credit rating of UPL subsidiary

Fitch Ratings (Fitch) on 06 June 2024 has revised the credit rating of UPL Corporation, wholly owned subsidiary of UPL.

Fitch has downgraded UPL Corporation's Long-Term Issuer Default Rating (IDR) to 'BB', from 'BB+'. The Outlook is Negative.

Fitch has also downgraded UPL Corp's senior unsecured rating and the ratings on the senior unsecured notes to 'BB', from 'BB+'. The senior unsecured notes have a Recovery Rating of 'RR4'

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