Summary: Fidelity National Information Services Inc. Jul 06
Standard & Poors, July 2006
Abstract
The ratings reflect Jacksonville, Fla.-based Fidelity National Information Services Inc.'s (FIS') 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 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 technology, process,...
Companies mentioned in this report are: Fidelity National Information Services Inc.
Action: Review
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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.
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