Credit rating agency, Credit Analysis & Research (CARE) has revised rating of Educomp Solutions’ long term bank facilities worth Rs 299.07 crore to BBB- from A-. The rating agency has also revised rating of company’s Long/short term bank facilities worth Rs 410.00 crore to BBB-/A3 from A-/A1.
The revision in the ratings of (ESL) takes into consideration the weak financial performance of the company during 9MFY13 characterized by decline in operating income and low profitability.
Educomp Solution provides learning solutions to schools, governments, teachers, students and parents. It has research and development center located at Noida that creates quality products and services. The solution is based on education principles that help them to design education systems.