Fitch Affirms IBM india at AAA

Fitch, a global rating agency has affirmed IBM India’s National longterm rating at ‘Fitch AAA (ind)’ and the rating outlook is stable. Fitch said that its ratings and outlook reflect that IBM India has a prominent position in the domestic servers and storage devices market with a well-established brand name. And IBM’s outsourcing business in India has contributed significantly for its revenues. The agency said that the strong bonding with its parent company is IBM India’s strength and orders from parent company are being executed on a costplus basis but there are no legal ties between them.