CARE reaffirms ratings of Dynacons Systems & Solutions’ bank facilities

13 Oct 2014

Credit rating agency, CARE has reaffirmed ‘BB+’ rating to Dynacons Systems & Solutions’ long term bank facilities worth Rs 13.26 crore which was enhanced from Rs 13.42 and ‘A4+’ rating to company’s Short term Bank Facilities worth Rs 4.89 crore which was enhanced from Rs 3.50 crore.

The ratings assigned to the bank facilities of Dynacons Systems & Solutions (DSSL) continue to be constrained by its relatively modest scale of operation, moderate profitability margins, working capital intensive nature of operations resulting in high working capital utilization, moderately weak debt coverage indicators and operations in highly fragmented and competitive industry.

Dynacons Systems & Solutions, incorporated in 1995, is engaged in providing IT services, viz, System Integration (consisting of 42% of total income of FY14; refers to the period April 01 to March 31), IT infrastructure Management (consisting of 26% of total income of FY14), Networking and Software solution services.

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