19th Jun 2018 18:26
LONDON (Alliance News) - UK Ministry of Defence has given outsourcing & professional services firm Capita PLC the highest possible risk rating after an internal assessment, The Financial Times reported late Tuesday.
The newspaper said that the document was updated on June 7, but emerged recently, as early on Tuesday, Capita confirmed that it has been selected as the winning tenderer for the Defence Fire & Rescue Project by the UK Ministry of Defence.
Capita did not provide any financial details of the agreement, but The Financial Times valued a new firefighting contract at GBP500 million, as the company will take over 69 defence fire stations worldwide.
Turning back to the assessment, the newspaper said that UK Ministry of Defence indicated Capita with the highest probability of distress, as it received ten points out of ten. For the 'health score', UK Ministry of Defence awarded Capita with three points out of 100.
The Financial Times noted that any company scoring 25 points or less judged to be in a red "warning area", indicating it may be "vulnerable and should be viewed with care".
The Financial Times also said that Capita beat public services firm Serco Group PLC for the deal, with the latter company being judged an eight points of risk out of ten.
https://www.ft.com/content/37d9219e-73b3-11e8-aa31-31da4279a601
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