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'