SINGAPORE (Standard&Poor's) April 25, 2014--Standard&Poor's Ratings Services said today that its corporate credit rating on U.S.-based Genpact Ltd. (BBB-/Stable/--) is not affected by the company's acquisition of Pharmalink Consulting, a niche provider of regulatory services to the life sciences industry. We believe the acquisition will be within our base-case assumption of US$150 million-US$200 million spending on acquisitions annually. The move is also in line with Genpact's focus areas of growth in life sciences. In our view, the service provider in business process outsourcing will use its surplus cash to make acquisitions or shareholder distributions (like the recent US$300 million buyback), while keeping its leverage below a debt-to-EBITDA ratio of less than 2x. Genpact's "satisfactory" business risk
