Fidelity National Information Services Inc. Unsecured Notes Rated 'BBB'

NEW YORK (S&P Global Ratings) Feb. 23, 2021--S&P Global Ratings today assigned its 'BBB' issue-level rating to U.S.-based Fidelity National Information Services Inc.'s (FIS) new unsecured notes. The company expects to use the proceeds to repay debt. Our 'BBB' issuer credit rating on FIS reflects its substantial operating scale and diverse outsourced financial services. The stable outlook reflects our expectation that expense reductions will help the firm expand EBITDA margins as revenue returns to growth in 2021, and that FIS will continue to generate substantial free cash flows to repay debt. We would consider lowering our rating if FIS does not steadily reduce debt over 2021, such that we believe leverage will remain above 3x. This scenario could occur if

...February 23, 2021 NEW YORK (S&P Global Ratings) Feb. 23, 2021--S&P Global Ratings today assigned its '###' issue-level rating to U.S.-based Fidelity National Information Services Inc.'s (FIS) new unsecured notes. The company expects to use the proceeds to repay debt. Our '###' issuer credit rating on FIS reflects its substantial operating scale and diverse outsourced financial services. The stable outlook reflects our expectation that expense reductions will help the firm expand EBITDA margins as revenue returns to growth in 2021, and that FIS will continue to generate substantial free cash flows to repay debt. We would consider lowering our rating if FIS does not steadily reduce debt over 2021, such that we believe leverage will remain above 3x. This scenario could occur if FIS allocates significant cash toward shareholder returns or additional acquisitions rather than debt repayment....

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