SINGAPORE (Standard & Poor's) March 29, 2006--Standard & Poor's Ratings Services today affirmed its 'BBB' corporate credit rating on Infosys Technologies Ltd., an information technology service provider based in India. The outlook is stable. "The rating on Infosys reflects its conservative financial policy and profile, superior cost efficiency, and improving business and customer diversity," said Standard & Poor's credit analyst Greg Pau. The company has consistently maintained a debt-free capital structure and ample liquidity. Its financial profile is further underpinned by strong funds from operations of over US$400 million per year. Infosys is one of the top three IT service providers in India, with revenue at US$1.6 billion in the nine months ended Dec. 31, 2005. About 98% of its
