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Fitch: Infinite Computer receives AA-(ind)
Fitch Ratings said it assigned Infinite Computer Solutions (India) Ltd. a national long-term rating of Fitch AA-(ind). The outlook is stable.
The ratings derive comfort from Infinite being a key vendor to its top two customers, with whom it has had over a decade-long relationship and which account for over 50% of consolidated revenue, the agency noted.
The ratings reflect a strong revenue visibility - around 85% of expected revenues for FY12 - attributed to long-term contracts and repeat business from its top two customers, while also reflecting the company's steadily increasing EBITDA margins and a strong financial profile, supported by low financial leverage, high interest cover and sound liquidity position, the agency said.
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