Recovery Report: Fidelity National Information Services Inc.'s Recovery Rating Profile Aug 11
Standard & Poors, August 2011
Abstract
Standard & Poor's Rating Services is updating its recovery analysis on Jacksonville, Fla.-based Fidelity National Information Services Inc.'s (FIS) first-lien credit facilities and senior unsecured notes. The ratings are unchanged. We simulate a default occurring in a scenario of adverse competitive conditions, declining revenue, and weak debt refinancing market conditions, ultimately resulting in debt payment default. We believe that in a default, FIS would remain a viable business given its market leading position as one of the largest global providers of banking and payment processing solutions and high customer switching costs. FIS has a simple capital and legal structure, comprised of Fidelity National Information Services Inc., the single borrowing entity, and operating subsidiaries. Obligations under FIS' credit facility and senior...
Companies mentioned in this report are: Fidelity National Information Services Inc.,Metavante Corp.
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.
Research Type: Full Analysis
Fidelity National Information Services Inc.,Metavante Corp.
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