CRISIL has reaffirmed 'AA/Stable/A1+' on the bank facilities of NIIT Technologies (NTL).The ratings continue to reflect NTL's healthy business risk profile, driven by its diversified revenue mix across geographies and verticals.

The ratings also factor in the company's strong financial risk profile and the benefits it is expected to derive from the stable outlook for the Indian information technology (IT) services industry over the long term. These rating strengths are partially offset by the company's average scale of operations and its exposure to intense competition in the IT industry.

CRISIL believes that NTL will maintain its business risk profile over the medium term, supported by its established market position and diversified revenue mix. The company will also maintain its conservative financial policy and hence its capital structure, over this period.

The outlook may be revised to 'Positive' if NTL achieves significant and sustained growth in revenue, resulting in a larger scale of operation, while improving its profitability and maintaining its healthy capital structure. Conversely, the outlook may be revised to 'Negative' if the company's financial risk profile deteriorates significantly, most likely because of large debt-funded capex or acquisitions, or lower-than-expected revenue growth and profitability.

Shares of the company declined Rs 2.75, or 0.74%, to trade at Rs 368.05. The total volume of shares traded was 5,207 at the BSE (3.25 p.m., Tuesday).