The rating revision also takes into account the comfortable leverage position and debt coverage indicators over the years,
Saksoft share price rose 6 percent intraday on January 15 after CARE upgraded the ratings of the company’s long-term bank facilities.
Credit Analysis & Research Limited upgraded the long-term bank facilities from CARE BBB + positive to CARE A- stable.
The revision takes into account the consistent improvement in the scale of operations of the company with improved profitability over the last few years, with sharp growth observed in FY19.
The rating revision also takes into account the comfortable leverage position and debt coverage indicators over the years, it said.At 0955 hours, Saksoft was quoting at Rs 243.75, up Rs 9.05, or 3.86 percent, on the BSE.Get access to India's fastest growing financial subscriptions service Moneycontrol Pro for as little as Rs 599 for first year. Use the code "GETPRO". Moneycontrol Pro offers you all the information you need for wealth creation including actionable investment ideas, independent research and insights & analysis For more information, check out the Moneycontrol website or mobile app.