Fitch rates Semantic Space A(ind)

Fitch Ratings said it assigned Semantic Space Technologies Ltd. a national long-term rating of Fitch A(ind).

The outlook is stable.

Ratings reflect the company's business position characterized by its moderate size of operations, high geographic concentration and low consolidated EBIDTA margins of around 12% in the financial year ended March, according to the agency.

Ratings draw strength from the company's comfortable fiscal 2011 financial profile with a gross adjusted debt-to-EBIDTAR ratio of 1.37 times, versus 2.01 times in fiscal 2010, and positive cash flow from operations, the agency said.

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