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<item><link>http://www.alacrastore.com/storecontent/spcred/666643</link><guid isPermaLink="false">spcred/666643</guid><spcred:index_mode xmlns:spcred="http://www.alacra.com/spcred">norm</spcred:index_mode><description>The latest Summary from S&amp;P</description><spcred:dataset xmlns:spcred="http://www.alacra.com/spcred">global</spcred:dataset><pubDate>8/21/2008 1:14:37 PM</pubDate><spcred:price xmlns:spcred="http://www.alacra.com/spcred">175</spcred:price><title>Summary: TNS Inc.</title><spcred:type xmlns:spcred="http://www.alacra.com/spcred">Summary</spcred:type><spcred:docid xmlns:spcred="http://www.alacra.com/spcred">666643</spcred:docid><spcred:index_entry_dispcountry xmlns:spcred="http://www.alacra.com/spcred">United States</spcred:index_entry_dispcountry><spcred:index_entry_dispgics xmlns:spcred="http://www.alacra.com/spcred">Data Processing &amp; Outsourced Services</spcred:index_entry_dispgics><spcred:index_entry_dispregion xmlns:spcred="http://www.alacra.com/spcred">United States</spcred:index_entry_dispregion><spcred:index_entry_dispsector xmlns:spcred="http://www.alacra.com/spcred">Global Issuers</spcred:index_entry_dispsector><spcred:index_entry_dispsector xmlns:spcred="http://www.alacra.com/spcred">Corporations</spcred:index_entry_dispsector><spcred:index_entry_dispsector xmlns:spcred="http://www.alacra.com/spcred">High Technology</spcred:index_entry_dispsector><spcred:index_entry_disptype xmlns:spcred="http://www.alacra.com/spcred">Summary</spcred:index_entry_disptype><spcred:index_entry_excerpt xmlns:spcred="http://www.alacra.com/spcred">The rating on Reston, Va.-based TNS Inc. reflects the company's narrow addressed market, declining domestic point-of-sale (POS) business, high customer concentrations, and moderate leverage. These factors partly are offset by the company's solid niche market position and prospects for continued international expansion. TNS provides private data communications networks for transaction-oriented applications globally; call signaling and database access services to the telecommunications industry; and secure data and voice network services to the financial services industry. Despite its leadership position in its selected niche, TNS remains vulnerable to substantially larger competitors. The company's market positions are defensible in the intermediate term because of investments in its proprietary and scalable technology, coupled with contractual customer relationships with moderate switching costs. However, the company</spcred:index_entry_excerpt><spcred:index_entry_primcountry xmlns:spcred="http://www.alacra.com/spcred">USA</spcred:index_entry_primcountry><spcred:index_entry_primgics xmlns:spcred="http://www.alacra.com/spcred">45102020 451020 4510 45</spcred:index_entry_primgics><spcred:index_entry_primissuer xmlns:spcred="http://www.alacra.com/spcred">TNS Inc.</spcred:index_entry_primissuer><spcred:index_entry_primissuerid xmlns:spcred="http://www.alacra.com/spcred">350470</spcred:index_entry_primissuerid><spcred:index_entry_primreg xmlns:spcred="http://www.alacra.com/spcred">USA</spcred:index_entry_primreg><spcred:index_entry_primticker xmlns:spcred="http://www.alacra.com/spcred">TNI</spcred:index_entry_primticker><spcred:index_entry_reporttype xmlns:spcred="http://www.alacra.com/spcred">SUMMARY</spcred:index_entry_reporttype><spcred:index_entry_sector xmlns:spcred="http://www.alacra.com/spcred">GLOBISS</spcred:index_entry_sector><spcred:index_entry_sector xmlns:spcred="http://www.alacra.com/spcred">CORP</spcred:index_entry_sector><spcred:index_entry_sector xmlns:spcred="http://www.alacra.com/spcred">High</spcred:index_entry_sector><category>Credit &amp; Investment Research</category><alacra:ip>S&amp;P Credit Research</alacra:ip></item><item><link>http://www.alacrastore.com/storecontent/ccbn/T1888996</link><guid isPermaLink="false">ccbn/T1888996</guid><ccbn:index_mode xmlns:ccbn="http://www.alacra.com/ccbn">norm</ccbn:index_mode><description>...Good day, ladies and gentlemen, and welcome to the second quarter #### TNS Inc earnings conference call. At this time, all participants are in a listen-only mode. We will be facilitating a question-and-answer session toward the end of today's conference. (OPERATOR INSTRUCTIONS). As a reminder, this conference is being recorded for replay purpose. I would now like to turn the presentation to your host for today's conference, Mr. Jim McLaughlin, Corporate Secretary. Please proceed. ...

</description><pubDate>8/4/2008 6:05:00 PM</pubDate><ccbn:name xmlns:ccbn="http://www.alacra.com/ccbn">TNS INC</ccbn:name><ccbn:price xmlns:ccbn="http://www.alacra.com/ccbn">54.0000</ccbn:price><ccbn:revision xmlns:ccbn="http://www.alacra.com/ccbn">Final</ccbn:revision><ccbn:storetitle xmlns:ccbn="http://www.alacra.com/ccbn">TNS INC Q2 2008 Earnings Conference Call Transcript</ccbn:storetitle><ccbn:ticker xmlns:ccbn="http://www.alacra.com/ccbn">TNS</ccbn:ticker><ccbn:time xmlns:ccbn="http://www.alacra.com/ccbn">5:00pm ET</ccbn:time><title>TNS INC Q2 2008 Earnings Conference Call Transcript</title><ccbn:type xmlns:ccbn="http://www.alacra.com/ccbn">Transcript</ccbn:type><ccbn:docid xmlns:ccbn="http://www.alacra.com/ccbn">T1888996</ccbn:docid><category>Credit &amp; Investment Research</category><alacra:ip>Thomson StreetEvents</alacra:ip></item><item><link>http://www.alacrastore.com/storecontent/spcred/658879</link><guid isPermaLink="false">spcred/658879</guid><spcred:index_mode xmlns:spcred="http://www.alacra.com/spcred">norm</spcred:index_mode><description>The latest Full Report from S&amp;P</description><spcred:dataset xmlns:spcred="http://www.alacra.com/spcred">global</spcred:dataset><pubDate>7/10/2008 1:02:53 PM</pubDate><spcred:price xmlns:spcred="http://www.alacra.com/spcred">400</spcred:price><title>TNS Inc.</title><spcred:type xmlns:spcred="http://www.alacra.com/spcred">Full Report</spcred:type><spcred:docid xmlns:spcred="http://www.alacra.com/spcred">658879</spcred:docid><spcred:index_entry_dispcountry xmlns:spcred="http://www.alacra.com/spcred">United States</spcred:index_entry_dispcountry><spcred:index_entry_dispgics xmlns:spcred="http://www.alacra.com/spcred">Data Processing &amp; Outsourced Services</spcred:index_entry_dispgics><spcred:index_entry_dispregion xmlns:spcred="http://www.alacra.com/spcred">United States</spcred:index_entry_dispregion><spcred:index_entry_dispsector xmlns:spcred="http://www.alacra.com/spcred">Global Issuers</spcred:index_entry_dispsector><spcred:index_entry_dispsector xmlns:spcred="http://www.alacra.com/spcred">Corporations</spcred:index_entry_dispsector><spcred:index_entry_dispsector xmlns:spcred="http://www.alacra.com/spcred">High Technology</spcred:index_entry_dispsector><spcred:index_entry_disptype xmlns:spcred="http://www.alacra.com/spcred">Full Report</spcred:index_entry_disptype><spcred:index_entry_excerpt xmlns:spcred="http://www.alacra.com/spcred">Leading market position in a niche industry sector; Proprietary and scalable network technology; and Good free cash flow generation. Narrow addressed market; Declining domestic point-of-sale (POS) business; Significant customer concentrations; and Vulnerable to larger competitors. The rating on Reston, Va.-based TNS Inc. reflects the company's narrow addressed market, declining domestic point-of-sale (POS) business, high customer concentrations, and increased leverage. These factors partly are offset by the company's solid niche market position and prospects for continued international expansion. TNS provides private data communications networks for transaction-oriented applications globally, call signaling and database access services to the telecommunications industry, and secure data and voice network services to the financial services industry. 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These factors partly are offset by the company's solid niche market position and prospects for continued international expansion. TNS provides private data communications networks for transaction-oriented applications globally, call signaling and database access services to the telecommunications industry, and secure data and voice network services to the financial services industry. The company had about $237 million of operating lease-adjusted debt as of Dec. 31, 2007. Despite its leadership position in its selected niche, TNS remains vulnerable to substantially larger competitors. The company's market positions are defensible in the intermediate term because of investments in its proprietary</spcred:index_entry_excerpt><spcred:index_entry_primcountry xmlns:spcred="http://www.alacra.com/spcred">USA</spcred:index_entry_primcountry><spcred:index_entry_primgics xmlns:spcred="http://www.alacra.com/spcred">45102020 451020 4510 45</spcred:index_entry_primgics><spcred:index_entry_primissuer xmlns:spcred="http://www.alacra.com/spcred">TNS Inc.</spcred:index_entry_primissuer><spcred:index_entry_primissuerid xmlns:spcred="http://www.alacra.com/spcred">350470</spcred:index_entry_primissuerid><spcred:index_entry_primreg xmlns:spcred="http://www.alacra.com/spcred">USA</spcred:index_entry_primreg><spcred:index_entry_primticker xmlns:spcred="http://www.alacra.com/spcred">TNI</spcred:index_entry_primticker><spcred:index_entry_reporttype xmlns:spcred="http://www.alacra.com/spcred">SUMMARY</spcred:index_entry_reporttype><spcred:index_entry_sector xmlns:spcred="http://www.alacra.com/spcred">GLOBISS</spcred:index_entry_sector><spcred:index_entry_sector xmlns:spcred="http://www.alacra.com/spcred">CORP</spcred:index_entry_sector><spcred:index_entry_sector xmlns:spcred="http://www.alacra.com/spcred">High</spcred:index_entry_sector><category>Credit &amp; Investment Research</category><alacra:ip>S&amp;P Credit Research</alacra:ip></item><item><link>http://www.alacrastore.com/storecontent/newstex/BW-0001-26539117</link><guid isPermaLink="false">newstex/BW-0001-26539117</guid><newstex:index_mode xmlns:newstex="http://www.alacra.com/newstex">xml</newstex:index_mode><description> Jul. #, #### (Business Wire) --  TNS, Inc. (NYSE: TNS), a leading provider of business-critical, cost-effective data communications services for transaction-oriented applications, will hold its conference call to discuss second quarter...</description><newstex:cat xmlns:newstex="http://www.alacra.com/newstex">04000000</newstex:cat><newstex:cat xmlns:newstex="http://www.alacra.com/newstex">04016000</newstex:cat><newstex:cat xmlns:newstex="http://www.alacra.com/newstex">04016001</newstex:cat><newstex:cat xmlns:newstex="http://www.alacra.com/newstex">04016018</newstex:cat><newstex:cat xmlns:newstex="http://www.alacra.com/newstex">04016048</newstex:cat><pubDate>7/9/2008 11:18:17 AM</pubDate><newstex:event xmlns:newstex="http://www.alacra.com/newstex">18000000</newstex:event><newstex:event xmlns:newstex="http://www.alacra.com/newstex">18004000</newstex:event><newstex:event xmlns:newstex="http://www.alacra.com/newstex">18008000</newstex:event><newstex:Publication xmlns:newstex="http://www.alacra.com/newstex">Business Wire</newstex:Publication><title>TNS, Inc. Second Quarter 2008 Financial Results Conference Call</title><newstex:docid xmlns:newstex="http://www.alacra.com/newstex">BW-0001-26539117</newstex:docid><newstex:index_entry_company xmlns:newstex="http://www.alacra.com/newstex">TNS INC</newstex:index_entry_company><newstex:index_entry_ticker xmlns:newstex="http://www.alacra.com/newstex">TNS</newstex:index_entry_ticker><category>News</category><alacra:ip>Newstex</alacra:ip></item><item><link>http://www.alacrastore.com/storecontent/moodys/COP_807490937</link><guid isPermaLink="false">moodys/COP_807490937</guid><moodys:index_mode xmlns:moodys="http://www.alacra.com/moodys">html</moodys:index_mode><description>Global Credit Research Credit Opinion ## MAY ####   Credit Opinion: TNS, Inc. TNS, Inc. Reston, Virginia, United States Ratings Category Moody's Rating Outlook Stable Corporate Family Rating B# Transaction Network Services, Inc. Outlook...</description><pubDate>5/24/2008 12:26:42 AM</pubDate><moodys:format xmlns:moodys="http://www.alacra.com/moodys">html</moodys:format><moodys:issuer xmlns:moodys="http://www.alacra.com/moodys">TNS, Inc.</moodys:issuer><moodys:issuer_list xmlns:moodys="http://www.alacra.com/moodys">TNS, Inc.</moodys:issuer_list><moodys:org_id xmlns:moodys="http://www.alacra.com/moodys">807490937</moodys:org_id><moodys:price xmlns:moodys="http://www.alacra.com/moodys">150.0000</moodys:price><moodys:report_class xmlns:moodys="http://www.alacra.com/moodys">News</moodys:report_class><moodys:report_type xmlns:moodys="http://www.alacra.com/moodys">Credit Opinion</moodys:report_type><title>TNS, Inc.</title><moodys:docid xmlns:moodys="http://www.alacra.com/moodys">COP_807490937</moodys:docid><category>Credit &amp; Investment Research</category><alacra:ip>Moody's Global Credit Research</alacra:ip></item><item><link>http://www.alacrastore.com/storecontent/spcred/648710</link><guid isPermaLink="false">spcred/648710</guid><spcred:index_mode xmlns:spcred="http://www.alacra.com/spcred">norm</spcred:index_mode><description>The latest Summary from S&amp;P</description><spcred:dataset xmlns:spcred="http://www.alacra.com/spcred">global</spcred:dataset><pubDate>5/16/2008 1:10:42 PM</pubDate><spcred:price xmlns:spcred="http://www.alacra.com/spcred">175</spcred:price><title>Summary: TNS Inc.</title><spcred:type xmlns:spcred="http://www.alacra.com/spcred">Summary</spcred:type><spcred:docid xmlns:spcred="http://www.alacra.com/spcred">648710</spcred:docid><spcred:index_entry_dispcountry xmlns:spcred="http://www.alacra.com/spcred">United States</spcred:index_entry_dispcountry><spcred:index_entry_dispgics xmlns:spcred="http://www.alacra.com/spcred">Data Processing &amp; Outsourced Services</spcred:index_entry_dispgics><spcred:index_entry_dispregion xmlns:spcred="http://www.alacra.com/spcred">United States</spcred:index_entry_dispregion><spcred:index_entry_dispsector xmlns:spcred="http://www.alacra.com/spcred">Global Issuers</spcred:index_entry_dispsector><spcred:index_entry_dispsector xmlns:spcred="http://www.alacra.com/spcred">Corporations</spcred:index_entry_dispsector><spcred:index_entry_dispsector xmlns:spcred="http://www.alacra.com/spcred">High Technology</spcred:index_entry_dispsector><spcred:index_entry_disptype xmlns:spcred="http://www.alacra.com/spcred">Summary</spcred:index_entry_disptype><spcred:index_entry_excerpt xmlns:spcred="http://www.alacra.com/spcred">The rating on Reston, Va.-based TNS Inc. reflects the company's narrow addressed market, declining domestic point-of-sale (POS) business, high customer concentrations, and increased leverage. 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I'll be your conference coordinator for today. (OPERATOR INSTRUCTIONS) Today's conference is being recorded for replay purposes. I would now like to transfer the conference over to your host for today's presentation, Mr. Jim McLaughlin, Executive Vice President and Corporate Secretary. Please proceed, sir....

</description><pubDate>5/5/2008 6:04:00 PM</pubDate><ccbn:name xmlns:ccbn="http://www.alacra.com/ccbn">TNS INC</ccbn:name><ccbn:price xmlns:ccbn="http://www.alacra.com/ccbn">54.0000</ccbn:price><ccbn:revision xmlns:ccbn="http://www.alacra.com/ccbn">Final</ccbn:revision><ccbn:storetitle xmlns:ccbn="http://www.alacra.com/ccbn">Q1 2008 TNS INC Earnings Conference Call Transcript</ccbn:storetitle><ccbn:ticker xmlns:ccbn="http://www.alacra.com/ccbn">TNS</ccbn:ticker><ccbn:time xmlns:ccbn="http://www.alacra.com/ccbn">5:00pm ET</ccbn:time><title>Q1 2008 TNS INC Earnings Conference Call Transcript</title><ccbn:type xmlns:ccbn="http://www.alacra.com/ccbn">Transcript</ccbn:type><ccbn:docid xmlns:ccbn="http://www.alacra.com/ccbn">T1822560</ccbn:docid><category>Credit &amp; Investment Research</category><alacra:ip>Thomson StreetEvents</alacra:ip></item><item><link>http://www.alacrastore.com/storecontent/spcred/641574</link><guid isPermaLink="false">spcred/641574</guid><spcred:index_mode xmlns:spcred="http://www.alacra.com/spcred">norm</spcred:index_mode><description>The latest Summary from S&amp;P</description><title>Summary: TNS Inc.</title><pubDate>4/8/2008 10:34:02 AM</pubDate><spcred:type xmlns:spcred="http://www.alacra.com/spcred">Summary</spcred:type><spcred:price xmlns:spcred="http://www.alacra.com/spcred">175</spcred:price><spcred:dataset xmlns:spcred="http://www.alacra.com/spcred">global</spcred:dataset><spcred:docid xmlns:spcred="http://www.alacra.com/spcred">641574</spcred:docid><spcred:index_entry_dispcountry xmlns:spcred="http://www.alacra.com/spcred">United States</spcred:index_entry_dispcountry><spcred:index_entry_dispgics xmlns:spcred="http://www.alacra.com/spcred">Data Processing &amp; Outsourced Services</spcred:index_entry_dispgics><spcred:index_entry_dispregion xmlns:spcred="http://www.alacra.com/spcred">United States</spcred:index_entry_dispregion><spcred:index_entry_dispsector xmlns:spcred="http://www.alacra.com/spcred">Global Issuers</spcred:index_entry_dispsector><spcred:index_entry_dispsector xmlns:spcred="http://www.alacra.com/spcred">Corporations</spcred:index_entry_dispsector><spcred:index_entry_dispsector xmlns:spcred="http://www.alacra.com/spcred">High Technology</spcred:index_entry_dispsector><spcred:index_entry_disptype xmlns:spcred="http://www.alacra.com/spcred">Summary</spcred:index_entry_disptype><spcred:index_entry_excerpt xmlns:spcred="http://www.alacra.com/spcred">The rating on Reston, Va.-based TNS Inc. reflects the company's narrow addressed market, declining domestic point-of-sale (POS) business, high customer concentrations, and increased leverage. These factors are offset partially by the company's solid niche market position and prospects for continued international expansion. TNS provides private data communications networks for transaction-oriented applications globally, call signaling and database access services to the telecommunications industry, and secure data and voice network services to the financial services industry. The company had about $237 million of operating lease-adjusted debt as of Dec. 31, 2007. Despite its leadership position in its selected niche, TNS remains vulnerable to substantially larger competitors. The company's market positions are defensible in the intermediate term because of investments in its proprietary</spcred:index_entry_excerpt><spcred:index_entry_primcountry xmlns:spcred="http://www.alacra.com/spcred">USA</spcred:index_entry_primcountry><spcred:index_entry_primgics xmlns:spcred="http://www.alacra.com/spcred">45102020 451020 4510 45</spcred:index_entry_primgics><spcred:index_entry_primissuer xmlns:spcred="http://www.alacra.com/spcred">TNS Inc.</spcred:index_entry_primissuer><spcred:index_entry_primissuerid xmlns:spcred="http://www.alacra.com/spcred">350470</spcred:index_entry_primissuerid><spcred:index_entry_primreg xmlns:spcred="http://www.alacra.com/spcred">USA</spcred:index_entry_primreg><spcred:index_entry_primticker xmlns:spcred="http://www.alacra.com/spcred">TNI</spcred:index_entry_primticker><spcred:index_entry_reporttype xmlns:spcred="http://www.alacra.com/spcred">SUMMARY</spcred:index_entry_reporttype><spcred:index_entry_sector xmlns:spcred="http://www.alacra.com/spcred">GLOBISS</spcred:index_entry_sector><spcred:index_entry_sector xmlns:spcred="http://www.alacra.com/spcred">CORP</spcred:index_entry_sector><spcred:index_entry_sector xmlns:spcred="http://www.alacra.com/spcred">High</spcred:index_entry_sector><category>Credit &amp; Investment Research</category><alacra:ip>S&amp;P Credit Research</alacra:ip></item><item><link>http://www.alacrastore.com/storecontent/ccbn/T1740831</link><guid isPermaLink="false">ccbn/T1740831</guid><ccbn:index_mode xmlns:ccbn="http://www.alacra.com/ccbn">norm</ccbn:index_mode><description>...Good day, ladies and gentlemen, and welcome to the TNS Inc. fourth quarter fiscal year #### earnings conference call. At this time, all participants are in a listen-only mode. We will be facilitating a question-and-answer session towards the end of this conference. (OPERATOR INSTRUCTIONS). As a reminder, this conference is being recorded for replay purposes. I would now like to turn the presentation over to your host for today's call, Mr. Michael McCarthy, Assistant Corporate Secretary for TNS. ...

</description><pubDate>2/25/2008 7:05:00 PM</pubDate><ccbn:name xmlns:ccbn="http://www.alacra.com/ccbn">TNS INC</ccbn:name><ccbn:price xmlns:ccbn="http://www.alacra.com/ccbn">54.0000</ccbn:price><ccbn:revision xmlns:ccbn="http://www.alacra.com/ccbn">Final</ccbn:revision><ccbn:storetitle xmlns:ccbn="http://www.alacra.com/ccbn">Q4 2007 TNS INC Earnings Conference Call Transcript</ccbn:storetitle><ccbn:ticker xmlns:ccbn="http://www.alacra.com/ccbn">TNS</ccbn:ticker><ccbn:time xmlns:ccbn="http://www.alacra.com/ccbn">5:00pm ET</ccbn:time><title>Q4 2007 TNS INC Earnings Conference Call Transcript</title><ccbn:type xmlns:ccbn="http://www.alacra.com/ccbn">Transcript</ccbn:type><ccbn:docid xmlns:ccbn="http://www.alacra.com/ccbn">T1740831</ccbn:docid><category>Credit &amp; Investment Research</category><alacra:ip>Thomson StreetEvents</alacra:ip></item><item><link>http://www.alacrastore.com/storecontent/ccbn/T1665905</link><guid isPermaLink="false">ccbn/T1665905</guid><ccbn:index_mode xmlns:ccbn="http://www.alacra.com/ccbn">norm</ccbn:index_mode><pubDate>11/13/2007 4:05:00 PM</pubDate><ccbn:name xmlns:ccbn="http://www.alacra.com/ccbn">TNS INC</ccbn:name><ccbn:price xmlns:ccbn="http://www.alacra.com/ccbn">54.0000</ccbn:price><ccbn:revision xmlns:ccbn="http://www.alacra.com/ccbn">Final</ccbn:revision><ccbn:storetitle xmlns:ccbn="http://www.alacra.com/ccbn">Q3 2007 TNS INC Earnings Conference Call Transcript</ccbn:storetitle><ccbn:ticker xmlns:ccbn="http://www.alacra.com/ccbn">TNS</ccbn:ticker><ccbn:time xmlns:ccbn="http://www.alacra.com/ccbn">5:00pm ET</ccbn:time><title>Q3 2007 TNS INC Earnings Conference Call Transcript</title><description>...Good day, ladies and gentlemen. Thank you for standing by, and welcome to the #### third-quarter TNS earnings conference call. (OPERATOR INSTRUCTIONS). I would now like to turn the presentation over to your host for today's call, Mr. Jim McLaughlin, Executive Vice President and Corporate Secretary of TNS. Please proceed, sir. ...

</description><ccbn:type xmlns:ccbn="http://www.alacra.com/ccbn">Transcript</ccbn:type><ccbn:docid xmlns:ccbn="http://www.alacra.com/ccbn">T1665905</ccbn:docid><category>Credit &amp; Investment Research</category><alacra:ip>Thomson StreetEvents</alacra:ip></item><item><link>http://www.alacrastore.com/storecontent/spcred/609010</link><guid isPermaLink="false">spcred/609010</guid><spcred:index_mode xmlns:spcred="http://www.alacra.com/spcred">norm</spcred:index_mode><title>TNS Inc.</title><description>The latest Full Report from S&amp;P</description><pubDate>10/23/2007 10:30:59 AM</pubDate><spcred:type xmlns:spcred="http://www.alacra.com/spcred">Full Report</spcred:type><spcred:price xmlns:spcred="http://www.alacra.com/spcred">400</spcred:price><spcred:dataset xmlns:spcred="http://www.alacra.com/spcred">global</spcred:dataset><spcred:docid xmlns:spcred="http://www.alacra.com/spcred">609010</spcred:docid><spcred:index_entry_dispcountry xmlns:spcred="http://www.alacra.com/spcred">United States</spcred:index_entry_dispcountry><spcred:index_entry_dispgics xmlns:spcred="http://www.alacra.com/spcred">Data Processing &amp; Outsourced Services</spcred:index_entry_dispgics><spcred:index_entry_dispregion xmlns:spcred="http://www.alacra.com/spcred">United States</spcred:index_entry_dispregion><spcred:index_entry_dispsector xmlns:spcred="http://www.alacra.com/spcred">Global Issuers</spcred:index_entry_dispsector><spcred:index_entry_dispsector xmlns:spcred="http://www.alacra.com/spcred">Corporations</spcred:index_entry_dispsector><spcred:index_entry_dispsector xmlns:spcred="http://www.alacra.com/spcred">High Technology</spcred:index_entry_dispsector><spcred:index_entry_disptype xmlns:spcred="http://www.alacra.com/spcred">Full Report</spcred:index_entry_disptype><spcred:index_entry_excerpt xmlns:spcred="http://www.alacra.com/spcred">Leading market position in a niche industry sector; Proprietary and scalable network technology; and Good free cash flow generation. Narrow addressed market; Declining domestic POS business; Significant customer concentrations; and Vulnerable to larger competitors. The ratings on Reston, Va.-based TNS Inc. reflect the company's narrow addressed market, declining domestic point-of-sale (POS) business, high customer concentrations, and increased leverage. These factors are offset partially by the company's solid market position in its addressed niche and prospects for continued international expansion. TNS provides private data communications networks for transaction-oriented applications globally, call signaling and database access services to the telecommunications industry, and secure data and voice network services to the financial services industry. The company had approximately $247 million of operating lease-adjusted</spcred:index_entry_excerpt><spcred:index_entry_primcountry xmlns:spcred="http://www.alacra.com/spcred">USA</spcred:index_entry_primcountry><spcred:index_entry_primgics xmlns:spcred="http://www.alacra.com/spcred">45102020 451020 4510 45</spcred:index_entry_primgics><spcred:index_entry_primissuer xmlns:spcred="http://www.alacra.com/spcred">TNS Inc.</spcred:index_entry_primissuer><spcred:index_entry_primissuerid xmlns:spcred="http://www.alacra.com/spcred">350470</spcred:index_entry_primissuerid><spcred:index_entry_primreg xmlns:spcred="http://www.alacra.com/spcred">USA</spcred:index_entry_primreg><spcred:index_entry_primticker xmlns:spcred="http://www.alacra.com/spcred">TNI</spcred:index_entry_primticker><spcred:index_entry_reporttype xmlns:spcred="http://www.alacra.com/spcred">FULL</spcred:index_entry_reporttype><spcred:index_entry_sector xmlns:spcred="http://www.alacra.com/spcred">GLOBISS</spcred:index_entry_sector><spcred:index_entry_sector xmlns:spcred="http://www.alacra.com/spcred">CORP</spcred:index_entry_sector><spcred:index_entry_sector xmlns:spcred="http://www.alacra.com/spcred">High</spcred:index_entry_sector><category>Credit &amp; Investment Research</category><alacra:ip>S&amp;P Credit Research</alacra:ip></item><item><link>http://www.alacrastore.com/storecontent/spcred/609012</link><guid isPermaLink="false">spcred/609012</guid><spcred:index_mode xmlns:spcred="http://www.alacra.com/spcred">norm</spcred:index_mode><title>Summary: TNS Inc.</title><description>The latest Summary from S&amp;P</description><pubDate>10/23/2007 10:30:59 AM</pubDate><spcred:type xmlns:spcred="http://www.alacra.com/spcred">Summary</spcred:type><spcred:price xmlns:spcred="http://www.alacra.com/spcred">175</spcred:price><spcred:dataset xmlns:spcred="http://www.alacra.com/spcred">global</spcred:dataset><spcred:docid xmlns:spcred="http://www.alacra.com/spcred">609012</spcred:docid><spcred:index_entry_dispcountry xmlns:spcred="http://www.alacra.com/spcred">United States</spcred:index_entry_dispcountry><spcred:index_entry_dispgics xmlns:spcred="http://www.alacra.com/spcred">Data Processing &amp; Outsourced Services</spcred:index_entry_dispgics><spcred:index_entry_dispregion xmlns:spcred="http://www.alacra.com/spcred">United States</spcred:index_entry_dispregion><spcred:index_entry_dispsector xmlns:spcred="http://www.alacra.com/spcred">Global Issuers</spcred:index_entry_dispsector><spcred:index_entry_dispsector xmlns:spcred="http://www.alacra.com/spcred">Corporations</spcred:index_entry_dispsector><spcred:index_entry_dispsector xmlns:spcred="http://www.alacra.com/spcred">High Technology</spcred:index_entry_dispsector><spcred:index_entry_disptype xmlns:spcred="http://www.alacra.com/spcred">Summary</spcred:index_entry_disptype><spcred:index_entry_excerpt xmlns:spcred="http://www.alacra.com/spcred">The ratings on Reston, Va.-based TNS Inc. reflect the company's narrow addressed market, declining domestic point-of-sale (POS) business, high customer concentrations, and increased leverage. These factors are offset partially by the company's solid market position in its addressed niche and prospects for continued international expansion. TNS provides private data communications networks for transaction-oriented applications globally, call signaling and database access services to the telecommunications industry, and secure data and voice network services to the financial services industry. The company had approximately $247 million of operating lease-adjusted debt as of June 30, 2007. Despite its leadership position in its selected niche, TNS remains vulnerable to substantially larger competitors. The company's market positions are defensible over the intermediate term because of investments</spcred:index_entry_excerpt><spcred:index_entry_primcountry xmlns:spcred="http://www.alacra.com/spcred">USA</spcred:index_entry_primcountry><spcred:index_entry_primgics xmlns:spcred="http://www.alacra.com/spcred">45102020 451020 4510 45</spcred:index_entry_primgics><spcred:index_entry_primissuer xmlns:spcred="http://www.alacra.com/spcred">TNS Inc.</spcred:index_entry_primissuer><spcred:index_entry_primissuerid xmlns:spcred="http://www.alacra.com/spcred">350470</spcred:index_entry_primissuerid><spcred:index_entry_primreg xmlns:spcred="http://www.alacra.com/spcred">USA</spcred:index_entry_primreg><spcred:index_entry_primticker xmlns:spcred="http://www.alacra.com/spcred">TNI</spcred:index_entry_primticker><spcred:index_entry_reporttype xmlns:spcred="http://www.alacra.com/spcred">SUMMARY</spcred:index_entry_reporttype><spcred:index_entry_sector xmlns:spcred="http://www.alacra.com/spcred">GLOBISS</spcred:index_entry_sector><spcred:index_entry_sector xmlns:spcred="http://www.alacra.com/spcred">CORP</spcred:index_entry_sector><spcred:index_entry_sector xmlns:spcred="http://www.alacra.com/spcred">High</spcred:index_entry_sector><category>Credit &amp; Investment Research</category><alacra:ip>S&amp;P Credit Research</alacra:ip></item><item><link>http://www.alacrastore.com/storecontent/srp/1079442659</link><guid isPermaLink="false">srp/1079442659</guid><srp:index_mode xmlns:srp="http://www.alacra.com/srp">norm</srp:index_mode><description>...Address:##### Commerce Park Drive, Suite ###, Reston, Virginia #####-#### Incorporated:DelawareWeb Site: www.tnsi.comSIC Classification: Business Services, Not Elsewhere Classified (####) Business Description: TNS, Inc. is a leading provider of business-critical data communications services to processors of credit card, debit card and ATM transactions. The company is also a leading provider of secure data and voice network services to the global financial services industry. Indices:Russell ####, Russell #### IPO Date: ##-##-####...

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