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Summary: Fidelity National Information Services Inc. Mar 07
Standard & Poors, March 2007
The ratings on Jacksonville, Fla.-based Fidelity National Information Services Inc. (FIS) reflect its stable recurring revenue base, good cash-flow generation, and the opportunity to realize both product and cost synergies over time. The combination with Certegy Inc. provides risk management solutions and outsourcing services to financial institutions, retailers, mortgage lenders, and real estate professionals. While recent operating performance has been good, with operating margins in the mid-20% area, the company has grown rapidly through acquisitions, and has yet to demonstrate a sustained track record of performance. Growth opportunities include the cross-selling of an integrated suite of products and services, and international markets that are expected to grow more rapidly than the U.S. markets. Competition in niche markets is fragmented, and...
Companies mentioned in this report are: Fidelity National Information Services Inc.
Standard and Poors RatingsXpress Credit Research provides in-depth coverage of international corporates, financial institutions, insurance companies, utilities, sovereigns and structured finance programs. RatingsXpress Credit Research lets users determine the credit rating of holdings and identify key factors underlying an issuer's creditworthiness, distinguishes the different risk exposures for new and existing deals, and provides an understanding of how their analysts interpret key regulatory, political and environmental events and their economic impact.
This product consists of a Summary Analysis: Bi-annual (at least). An abbreviated analysis containing Standard & Poor's issuer credit ratings as of the time the article was published. The analysis includes a rating rationale - the basis on which the rating was assigned - and an outlook section if the issuer is not on CreditWatch. Financial statistics are not included.
Fidelity National Information Services Inc.