Moody’s gives UPL, bonds Baa3

Moody's Investors Service said it assigned a Baa3 issuer rating to UPL Corp. Ltd., the wholly owned subsidiary of UPL Ltd. (UPL, unrated).

The agency also assigned a Baa3 rating to the proposed bonds to be issued by UPL Corp.

The outlook is stable.

"UPL Corp.'s Baa3 rating reflects the company's strong business profile, as evidenced by its presence across the entire spectrum of the agricultural value chain and strategic position within the UPL group," Moody's vice president and senior analyst Kaustubh Chaubal said in a news release.

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