Corporate
S&P assigns 'BBB' to Wipro on better financial health
Global rating agency Standard & Poor"s (S&P) today assigned its "BBB" corporate credit rating to Wipro Ltd, the country"s third largest software exporter, implying better financial health and cost efficiency. - Mindtree Q2 net up 33.8% - FIIs raise holding in frontline IT stocks - Wipro bags 10-year contract for Delhi airport - 'It was only growth that eluded us' - Rolta Q2 net doubles to Rs 56 cr, to raise $250 mn - Indian cities still hot for outsourcing "We have rated Wipro higher than India"s sovereign rating (BBB-/Negative/A-3) because we believe the company would be able to service its debt even if the sovereign defaults on its obligation," S&P said in a statement. The rating, which falls under investment grade, reflects S&P"s view of the company"s modest financial risk profile, superior cost efficiency, relatively weak business profile of the company"s non-IT service business, and exposure to foreign exchange fluctuations, it said. Wipro also has other businesses including consumer care, lighting and infrastructure. For the year ended March 31, 2009, the IT services contributed about 75 per cent to Wipro"s total revenues of $5 billion. "Wipro"s IT service business has a competitive advantage from its experience of operating global delivery models with a majority of the workforce based in low cost countries, especially India," said Standard & Poor"s credit analyst, managing director --Corporate & Government Ratings, South and South East Asia, Suzanne Smith.Fast Cash Loans commented:
This rating they have got because of their good work and therefore they should be proud of this
29.08.2011
Payday Loans commented:
It is good to know about the rating of WIPRO in the international market
01.10.2011
Paydaybank commented:
They deserve this rating.Congras to them. Thanks for such informative post.
12.10.2011
car hire in Singapore commented:
Hoping such good result and rating will be maintained and raises more and more .Thanks for such post.
02.11.2011
Multi Family Offices commented:
Wipro is one of the leading software company of the India and is doing the business from long time and its very nice to see this company getting this \'BBB\' rating.
05.12.2011