On Sept. 15, 2005, Standard&Poor's Ratings Services placed its 'BBB' corporate credit and senior unsecured ratings for Alpharetta, Ga.-based Certegy Inc. on CreditWatch with negative implications. At the same time, the 'BB' corporate credit and senior secured ratings of Jacksonville, Fla.-based Fidelity National Information Services Inc. (FIS) are placed on CreditWatch with positive implications. The CreditWatch listings follow the announced merger agreement in which FIS, a majority owned subsidiary of Fidelity National Financial Inc. (BBB-/Watch Pos/--), and Certegy will combine operations to form a single publicly traded entity. Under the terms of the merger agreement, FIS and Certegy will be combined in a tax-free, stock-for-stock merger under which each share of FIS common stock will be exchanged for
