CARE reaffirms ratings of Accel Frontline’s bank facilities

Credit rating agency, CARE has reaffirmed ‘BB’ rating to Accel Frontline’s long term bank facilities worth Rs 79.25 crore which was enhanced from Rs 77.00 crore and ‘A4’ rating to company’s Short term Bank Facilities worth Rs 93 crore. The ratings continue to be constrained by the elevated financial risk profile of Accel Frontline marked by muted growth in sales, lower profitability, continued tight liquidity position on account of increased exposure to group companies as well as stretched collection period. Accel Frontline is one of the leading IT Services Company and an end-to-end IT solutions provider specializing in IT Infrastructure services, software solutions and warranty management services. It employs over 2000 skilled IT professionals and serves over 500 customers.