S&P upgrades outlook on TCS to positive on improvement in business position

The rating gency said it may revisit the outlook revision to stable if TCS fails to sustain faster growth or above-average profitability

Rating agency Standard and Poor's (S&P) has revised its outlook on Tata Consultancy Services Ltd. (TCS) from "stable" to "positive" on improvement in business position.

S&P also affirmed 'A' long-term issuer credit rating on the Indian software services company.

S&P in a statement said TCS' business position is strengthening following its recent large orders and robust profitability. The company's increasing penetration into digital services should result in double-digit revenue growth over the next 24 months.

TCS is likely to maintain its growth and profit leadership in the global software services business. The company's revenue rose 10 per cent in the