Standard&Poor's (PARIS) June 16, 2005--Standard&Poor's Ratings Services said today it has assigned its 'BB+' senior unsecured debt rating to French IT services group Cap Gemini S.A.'s proposed €380 million ($459 million) convertible bond issue due January 2012. At the same time, the 'BB+' long-term corporate credit rating on the group was affirmed. The outlook is negative. "Cap Gemini's new and existing convertible bond issues, and its €600 million revolving credit facility, all rank pari passu and are all rated at the same level as the corporate credit rating, despite significant structural subordination, on the basis of the parent company's, Cap Gemini S.A.'s, good balance-sheet position," said Standard&Poor's credit analyst Patrice Cochelin. "The proceeds from
