Research Update: Fidelity National Information Services Inc. Upgraded To 'BB+'; Proposed Unsecured $500M Notes Rated 'BB+' (Recovery: 3) Mar 12

Standard & Poors, March 2012

Abstract
Fidelity National Services (FIS), a leading global provider of banking and payment technologies, reported strong operating results and reduced debt in fiscal 2011. FIS recently announced that it intends to issue $500 million of senior unsecured notes due 2017, using the proceeds to repay outstanding senior secured indebtedness. We are raising our corporate credit rating on FIS to 'BB+' from 'BB' and assigning a 'BB+' issue rating with a '3' recovery rating to the proposed unsecured notes. The stable outlook reflects FIS' diversified and recurring revenue model and consistent profitability. On March 5, 2012, Standard & Poor's Ratings Services raised its corporate credit rating on Jacksonville, Fla.-based Fidelity National Services Inc. (FIS) to 'BB+' from 'BB'. The outlook is stable....

Companies mentioned in this report are: Fidelity National Information Services Inc.
Action: Upgraded

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.

Product Type: Research Update
Research updates complement media releases. They offer more depth and detail than summary analyses by incorporating all information published in the media release. They are more up to date than summaries in that they are published simultaneously with media releases.

Fidelity National Information Services Inc.

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