Ind-Ra upgrades ESDS Software’s credit rating to ‘A’ with stable outlook

NEW DELHI: India Ratings and Research (Ind-Ra) has upgraded the long-term rating on ESDS Software Solution’s long-term ₹50 crore bank loan facilities to IND A/Stable from IND BBB+/Positive, while also upgrading the short-term rating to IND A1 from IND A2+.

Ind-Ra attributed its ratings upgrade to ESDS’s larger and more diversified business over FY24-FY26, growth in recurring cloud and managed services revenue, greater visibility from its order book, and stronger credit metrics, ESDS said in a media statement.