SINGAPORE (Standard & Poor's) April 4, 2005--Standard & Poor's Ratings Services today assigned its 'BBB-' foreign currency and 'BBB' local currency ratings to Infosys Technologies Ltd. (Infosys), an information technology software service provider based in India. The outlook is stable. "The corporate credit rating on Infosys is the first in India to be higher than the sovereign ratings on India (BB+/Stable/B). This reflects Infosys' very conservative financial profile and policy, which feature ample liquidity, strong operating cash flow, and a debt-free balance sheet," said Standard & Poor's credit analyst Greg Pau, director in the Corporate and Infrastructure Ratings Group. "Infosys' good track record in the industry, its strategy of funding expansion through internal cash resources, and good debt capacity should
