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Firstsource Solutions on Friday informed the exchanges that Crisil has upgraded its long-term rating - Crisil A/Stable (upgraded from Crisil A-/stable), and short-term rating to Crisil A1 (upgraded from Crisil A2+).
The upgrade reflects steady reduction in FSL’s debt, leading to sustained improvement in the financial risk profile, and steady operating performance with improving profitability.
Long-term debt and total debt were at ₹315 crore and ₹692 crore, respectively, as on March 31, 2018, against ₹713 crore and ₹941 crore, respectively, as on March 31, 2017, said Crisil in a report. Shares of Firstsource Solutions closed 0.48 per cent higher at ₹73 on the NSE.
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