CARE reaffirms ratings of Accel Frontline’s bank facilities

01 Dec 2015 Evaluate

Credit rating agency, CARE has reaffirmed ‘BB+’ rating to Accel Frontline’s long term bank facilities worth Rs 54 crore and ‘A4+’ rating to company’s Short term Bank Facilities worth Rs 52.50 crore. The ratings assigned to the bank facilities of Accel Frontline (AFL) continue to be constrained by the elongated working capital cycle of the company, concentration of revenues with few clients and highly competitive nature of the IT industry. The ratings also factor in the decline in the revenues of AFL, losses for FY15 (refers to the period April 1 to March 31) and H1FY16 (refers to the period April 1 to September 30).

Accel Frontline is engaged in providing IT infrastructure and Software services. AFL operates under 4 different verticals, viz, System Integration (IT SI), Infrastructure Management Services (IT IMS), Software Services (SS) and Warranty Management Services (WMS).

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