CARE assigns ‘BB’ and 'A4' ratings to Scanpoint Geomatics’ bank facilities

redit rating agency, CARE has assigned ‘BB’ rating to Scanpoint Geomatics’ Long-term bank facilities worth Rs 7.96 crore. The rating agency has also assigned ‘A4’ rating to the company’s Short-term bank facilities worth Rs 3.85 crore. The company has received the said ratings on account of its modest scale of operations, high working capital intensity, competition from international players and susceptibility to risk associated with exposure to the Government projects. Scanpoint Geomatics (SGL) developed India’s first indigenous software IGiS (Indigenous GIS and Image Processing Software) in collaboration with ISRO which can be used in various verticals such as land information, urban planning, defense, resource exploration and estimation, education etc.