Fidelity National Services (FIS), a leading global provider of banking and payment technologies, reported strong operating results and reduced debt in fiscal 2011. FIS recently announced that it intends to issue $500 million of senior unsecured notes due 2017, using the proceeds to repay outstanding senior secured indebtedness. We are raising our corporate credit rating on FIS to 'BB+' from 'BB' and assigning a 'BB+' issue rating with a '3' recovery rating to the proposed unsecured notes. The stable outlook reflects FIS' diversified and recurring revenue model and consistent profitability. On March 5, 2012, Standard&Poor's Ratings Services raised its corporate credit rating on Jacksonville, Fla.-based Fidelity National Services Inc. (FIS) to 'BB+' from 'BB'. The outlook is stable.
