PARIS (Standard&Poor's CreditWire) May 31, 2000--Standard&Poor's today raised its long-term corporate credit rating on France-based Cap Gemini S.A., the largest European consulting and information-technology (IT) services provider, to single-'A'-minus from triple-'B'-plus. At the same time, the rating was removed from CreditWatch, where it had been placed with positive implications on Feb. 29, 2000, following the company's announcement that it would acquire the consulting services business of Ernst&Young LLP (not rated) in exchange for 42.7 million newly issued Cap Gemini shares and euro (Eur) 375 million in cash. The outlook is stable. The rating upgrade mainly reflects the significant improvements in Cap Gemini's business profile after the acquisition: -- The combination of the company's solid
