09-Oct-2026Today's Market Indicators


CARE Ratings downgraded Themis Medicare's bank facilities, corporate bonds, and other instruments
(12:50, 09 Oct 2026)

Themis Medicare Ltd announced ratings actions from CARE Ratings Limited, resulting in downgrades across several instruments. Specifically, CARE Ratings Limited downgraded the Long Term Bank Facilities from CARE BBB-; Negative to CARE BB+; Stable, and Short Term Bank Facilities from CARE A3 to CARE A4+; Stable, impacting amounts of Rs 77.39 crore and Rs 48.50 crore respectively, alongside Corporate Bonds and Debentures; the agency also assigned a rating of CARE A3 to Non-fund-based - ST-BG/LC of Rs 48.50 crore on August 12, 2025, and a rating of CARE BBB-; Negative to Fund-based - LT-Cash Credit of Rs 37.85 crore on the same date, with previous ratings of CARE BBB-; Stable assigned on June 25, 2025, and CARE BBB- on November 22, 2024 (RWP); the downgrades reflect a deterioration in key financial metrics including a TD/GCA ratio moving from 2.29x in FY25 to 10.79x (FY26) and an interest coverage ratio declining from 5.04x in FY25 to 0.26x (FY26), while CareEdge Ratings and other agencies provided no rating data.