Fidelity National Information Services Inc.'s Senior Unsecured Notes Assigned 'BBB' Rating

NEW YORK (S&P Global Ratings) Aug. 11, 2016--S&P Global Ratings today assigned its 'BBB' issue-level rating to Jacksonville, Fla.-based Fidelity National Information Services Inc.'s (FIS) announced senior unsecured notes offering. FIS will use the proceeds from the notes to repay existing debt balances. The 'BBB' corporate credit rating on FIS remains unchanged. The ratings reflect the company's good competitive position and significant base of recurring revenues. The SunGard acquisition resulted in greater scale and product diversification, which further strengthen the company's business risk profile. Nevertheless, the sizable debt-funded transaction resulted in temporarily weaker credit measures with pro forma adjusted leverage in the high 3x area as of June 30, 2016. Over the coming year, we expect FIS to generate over

...NEW YORK (S&P Global Ratings) Aug. 11, 2016--S&P Global Ratings today assigned its '###' issue-level rating to Jacksonville, Fla.-based Fidelity National Information Services Inc.'s (FIS) announced senior unsecured notes offering. FIS will use the proceeds from the notes to repay existing debt balances. The '###' corporate credit rating on FIS remains unchanged. The ratings reflect the company's good competitive position and significant base of recurring revenues. The SunGard acquisition resulted in greater scale and product diversification, which further strengthen the company's business risk profile. Nevertheless, the sizable debt-funded transaction resulted in temporarily weaker credit measures with pro forma adjusted leverage in the high 3x area as of June 30, 2016. Over the coming year, we expect FIS to generate over $1 billion of free cash flow from low- to mid-single-digit organic revenue growth and full achievement of previously identified cost synergies. We also expect the company...

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