MUMBAI (Standard&Poor's) Jan. 30, 2009--Standard&Poor's Ratings Services today revised its rating outlook on India's Infosys Technologies Ltd. (Infosys) to stable from positive. At the same time, Standard&Poor's affirmed its 'BBB' long-term corporate credit rating on Infosys. The outlook revision reflects the deteriorating global economic conditions, which have now adversely affected demand in the non-financial sector; the demand was earlier expected to offset the challenges already being faced by the largest industry segment--financial services. The global downturn has also somewhat offset the benefits of improved geographical diversification achieved by Infosys through reduced dependence on the U.S. Infosys is the second-largest India-based IT service provider. "The current weak market conditions have also adversely affected Infosys' pricing
