Coforge’s long-term issuer credit rating has been upgraded by CRISIL Ratings Limited to ‘CRISIL AA+/Stable’ from ‘CRISIL AA/Positive’. The short-term rating was reaffirmed at CRISIL A1+. This upgrade reflects CRISIL’s assessment of Coforge’s improved financial risk profile and business performance. The company has acknowledged the updated ratings.
Rating Upgrade Details
CRISIL Ratings Limited has upgraded Coforge’s long-term issuer rating to ‘CRISIL AA+/Stable’. Previously, the rating was ‘CRISIL AA/Positive’. This upgrade signifies an improvement in the company’s ability to manage its financial obligations and maintain stable performance.
Short-Term Rating Reaffirmed
In addition to the long-term rating upgrade, CRISIL has reaffirmed the short-term rating at CRISIL A1+. This rating indicates a high degree of certainty regarding Coforge’s ability to repay short-term debt obligations in a timely manner.
Company Acknowledgement
Coforge has been informed and has acknowledged the updated ratings from CRISIL. The company will integrate this information into its financial communications and reporting.
Source: BSE
