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Dhaka, January 27, 2009
Press
Release
CRISL Rates Southtech
Dhaka, 27th January, 2009: CRISL has
recently rated Southtech’s credit worthiness as follows
|
Rating |
Long term |
Short term |
|
Entity ranking |
A
(Single A) |
ST-2 |
|
Outlook |
Positive |
|
Date of Rating Declaration |
January 26, 2009 |
The long term credit rating of ‘A’ indicates
that Southtech Limited is an Investment Grade company. With this rating
Southtech is adjudged to be of adequate safety for timely repayment of
financial obligations. This level of rating indicates a corporate entity
with an adequate credit profile.
The short term credit rating of ‘ST-2’ ensures
that Southtech has a high certainty of timely payment. Liquidity factors
of the company are strong and are supported by good fundamental protection
factors. Risk factors are very small.
CRISL has assigned this rating to Southtech on the basis of good fundamentals
such as loyal customer base, low degree of financial leverage, high programmer
productivity, decade long experience in the IT sector, sound professional
team and modern IT infrastructure.
About Southtech Limited
Southtech Limited is a consulting house and an ICT solution
provider. It is a CMMI Level-3 company. It is also one of the largest
ISO 9001:2000 certified software companies in terms of number of employees
and countrywide coverage of solutions in Bangladesh.
Southtech specializes in banking and microfinance, retail
and wholesale management, enterprise resource planning and human resource
management solutions.
Southtech is a Microsoft Gold Certified Partner, an Oracle
Partner, an IBM Business Partner, a Prometric and VUE certified test center.
For more information, please visit www.southtechlimited.com.
Syed Mamnun Quader
Managing Director & CEO
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