Moody s assigns A3 rating to Infosys with stable outlook
Wednesday - October 3, 2018 8:28 pm ,
Category : BUSINESS
Moody s assigns A3 rating to Infosys with stable outlook
Bengaluru Oct 3 (IANS) Global credit rating agency Moody s Investors Service on Wednesday assigned A3 local-currency issuer rating to Infosys with stable outlook citing the company s strong financial profile.
"The rating is based on Infosys status as a leading IT consulting and services firm with operations across business segments and geographies profitability and a solid balance sheet " said the city-based firm in a statement citing Moody s.
The rating puts the $10.9-billion software exporter two notches above the Indian government s Baa2 stable rating thanks to the information technolgy major s international revenue base and a strong financial profile.
Infosys has A rating from the US-based financial services firm Standard & Poor s.
"With Moody s and S&P s ratings the company will have dual investment grade ratings which are higher than India s sovereign ratings from both these agencies " Infosys said.
The stable outlook takes into account the company s liquidity a debt-free balance sheet strong operating metrics and a robust business model.
"Moody s rating is a testimony to our resilient global business model which has delivered consistent business outcomes over the years " said the company s Chief Financial Officer M.D. Ranganath in the statement.
The rating is also reflective of the company s robust financial position healthy cash flow and a good financial performance added Ranganath.
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"The rating is based on Infosys status as a leading IT consulting and services firm with operations across business segments and geographies profitability and a solid balance sheet " said the city-based firm in a statement citing Moody s.
The rating puts the $10.9-billion software exporter two notches above the Indian government s Baa2 stable rating thanks to the information technolgy major s international revenue base and a strong financial profile.
Infosys has A rating from the US-based financial services firm Standard & Poor s.
"With Moody s and S&P s ratings the company will have dual investment grade ratings which are higher than India s sovereign ratings from both these agencies " Infosys said.
The stable outlook takes into account the company s liquidity a debt-free balance sheet strong operating metrics and a robust business model.
"Moody s rating is a testimony to our resilient global business model which has delivered consistent business outcomes over the years " said the company s Chief Financial Officer M.D. Ranganath in the statement.
The rating is also reflective of the company s robust financial position healthy cash flow and a good financial performance added Ranganath.
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