Feb 09, 2009, 06.10 PM IST | Source: Moneycontrol.com

Fitch assigns AA(ind)/F1+(ind) rating to MindTree's loans

MindTree Limited, a global IT and R&D Services Company, announced today that it has been assigned a Long-term rating of AA(ind) and a Short-term rating of F1+(ind) by Fitch Ratings.

MindTree Limited , a global IT and R&D Services Company, announced today that it has been assigned a Long-term rating of AA(ind) and a Short-term rating of F1+(ind) by Fitch Ratings . Further, the agency has rated the Outlook as stable. Fitch is a leading global rating agency that provides credit opinions.

 

MindTrees Long-term rating [AA(ind)] indicates very low credit risk, and is valued up to INR1,926.2M of long-term loans. The Short-term F1+(ind) rating, which is the highest in the category, covers fund-based working capital limits up to INR1,717M and non-fund based working capital limits up to INR53M.

 

Fitch took a consolidated view of MindTree and Aztecsoft Ltd. for this evaluation.

 

These ratings are significant as they reflect our financial strength and stability, even in the challenging economic environment that we live in today. This would not only help drive down interest costs for us, but also, more importantly, reinforce our stakeholders trust in us, said MindTree Chief Financial Officer Rostow Ravanan. The two key highlights of the Fitch report are our strong client relationships and ability to manage rapid growth. We hope to continue to invest strategically to maintain these strengths, he added. 

 

Sourced From: Corporate Voice|Weber Shandwick

Mindtree stock price

On April 17, 2014, Mindtree closed at Rs 1419.40, up Rs 38.75, or 2.81 percent. The 52-week high of the share was Rs 1724.95 and the 52-week low was Rs 782.70.


The company's trailing 12-month (TTM) EPS was at Rs 107.85 per share as per the quarter ended December 2013. The stock's price-to-earnings (P/E) ratio was 13.16. The latest book value of the company is Rs 314.10 per share. At current value, the price-to-book value of the company is 4.52.

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