Crisil reaffirms Infosys'' long-term, commercial paper programmes

Mumbai: Credit rating agency Crisil has reaffirmed the ratings assigned to Infosys Technologies' long-term and commercial paper programmes, which stand rated at AAA and P1plus, respectively. Crisil says it expected the company to sustain its robust financial profile in the short to medium term.

The company's strong business fundamentals have enabled it to build up a robust financial profile, which is characterised by a debt-free balance sheet as on 31 March 2003, large cash surplus (Rs 1,640 crore) and strong business inflows, as witnessed in the past, notes Crisil.

The ratings reflect Infosys' status as one of the country's leading software services companies. The company's key business challenges, according to Crisil, are maintaining profitability in an increasingly challenging business environment and improving geographical distribution of its revenues for insulation against downturns in specific markets.