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Cambridge Technology secures SME1 rate in CRISIL ratings
By siliconindia
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Wednesday, 24 September 2008, 00:59 IST
Hyderabad: Marking the creditworthiness of the firms in the SME sector, CRISIL, an Indian rating and research firm, has ranked U.S. based global technology services and outsourcing company, Cambridge Technology (CTE) as SME1. This SME1 rating, which is the highest rating for SME's, is provided as a one-time assessment and it is valid for one year.
Credit evaluation in the SME sector needs a specialized approach, as the issues and drivers of credit quality are different from those applicable for large companies. The entire process of rating takes some weeks during which CRISIL interact with the promoters and top management of a company and then analyzes the information obtained during the interactions. It includes comprehensive details about the firm, its functioning, the sustainability of business plans and long term viability of units , assessment of promoter's competence and track record , an evaluation of size (scale and net worth), profitability, efficiency of capital and working capital management, and credit protection measures. Finally, the award is given after a complete analysis of the strength and weaknesses of a company.
Apart from the CSRIL award, Data Quest in its latest survey of Top 200 IT Companies has ranked CTE as the third fastest growing technology firm. The company has its innovation center in Cambridge, Massachusetts.