(The following statement was released by the rating agency)
SINGAPORE/MUMBAI, July 18 (Fitch) Fitch Ratings has assigned
Glenmark Pharmaceuticals Ltd (Glenmark) a Long-Term
Default Rating (IDR) of 'BB'. The Outlook is Positive. Fitch
has also assigned
Glenmark's proposed Reg S notes an expected rating of 'BB(EXP)'.
Glenmark's rating incorporates its geographically diversified
demonstrated track record in regulatory compliance and its