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Research Update: Fidelity National Information Services Upgraded To 'BB+'; Off CreditWatch; Outlook Is Stable Jul 08 Product Image

Research Update: Fidelity National Information Services Upgraded To 'BB+'; Off CreditWatch; Outlook Is Stable Jul 08

  • ID: 1872310
  • July 2008
  • Standard & Poors

Abstract
On July 2, 2008, Standard & Poor's Ratings Services raised its corporate credit rating on Jacksonville, Fla.-based Fidelity National Information Services Inc. (FIS) to 'BB+' from 'BB'. At the same time, we removed the ratings from CreditWatch, where they had been placed with developing implications on April 28, 2008. The outlook is stable. Standard & Poor's withdrew its bank loan and recovery ratings on FIS' $1.6 billion secured term loan B facility. FIS is retiring the debt in conjunction with the spin-off of its Lender Processing Services segment, now a public company known as Lender Processing Services Inc. (LPS). We also raised the issue-level rating on FIS' outstanding $200 million 4.75% secured notes due 2008 to 'BBB' (two notches higher...

Companies mentioned in this report are: Fidelity National Information Services Inc.,Lender Processing Services Inc.
Action: Outlook: Stable
Action: Removed From CreditWatch
Action: Upgraded
Action: Withdrawn

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Fidelity National Information Services Inc.,Lender Processing Services Inc.

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