We expect Genpact to maintain its niche position in the global BPO space and its moderate leverage despite higher shareholder distributions. We are affirming our 'BBB-' long-term corporate credit rating on Genpact and the 'BBB-' long-term issue rating on the revolving credit facility and senior unsecured term loan that Genpact International Inc. issued. We are assigning our 'BBB-' long-term issue rating to the senior unsecured notes maturing 2022 that Genpact Luxembourg S.a.r.l proposes to issue. The stable outlook on Genpact reflects our expectation that the company's good competitive position and above-average profitability will help it to maintain its leverage at current levels over the next 12-24 months. On March 21, 2017, S&P Global Ratings affirmed its 'BBB-' long-term corporate credit
