ICRA revises Zensar Technologies' long term rating outlook to 'Stable', reaffirms rating

ICRA Limited has re-affirmed long-term rating at [ICRA] AA+ and short-term rating at [ICRA] A1+of Zensar Technologies Limited.

Further, it has revised the outlook on the long-term rating, from negative to stable.

The revision in outlook to Stable from Negative for Zensar Technologies Limited (ZTL) reflects its healthy operating profitability and liquidity position in 9M FY2021 leading to an improvement in the credit profile.

The ratings remain constrained by the moderately high customer concentration risk arising out of the dependence for revenues on a single client, mitigated to a large extent by the strong and established relationship with the customer.

Zensar Technologies ended trading at Rs278.80 apiece up by Rs1.8 or 0.65% from its previous closing of Rs277 apiece on the BSE.