SINGAPORE (Standard&Poor's) July 24, 2007--Standard&Poor's Ratings Services today revised its outlook on the corporate credit rating on Infosys Technologies Ltd. (Infosys) to positive from stable. At the same time, Standard&Poor's affirmed the 'BBB' rating on Infosys. The Indian-based IT services company reported 43% revenue growth for the fiscal year ended March 31, 2007, to US$3.1 billion, from US$2.2 billion in fiscal 2006. It is among the top three IT services company in India with net income of US$850 million for fiscal 2007. "The corporate credit rating reflects the conservative financial policy and profile of Infosys, where the company remains debt-free as at March 31, 2007," said Standard&Poor's credit analyst Wee Lee Cheng.
