We expect Genpact to maintain a good competitive position and strong profitability, which should enable the company to keep a conservative leverage. However, the risk of higher cash outflows due to larger-than-expected acquisitions or shareholder distributions continues to constrain the ratings. We are affirming our 'BBB-' long-term corporate credit rating on Genpact. At the same time, we are assigning our 'BBB-' long-term issue rating to the company's new US$800 million senior unsecured term loan and a US$350 million revolving credit facility. We are also withdrawing our ratings on the existing revolving credit facility and term loan. The stable outlook on Genpact reflects our expectation that the India-based service provider for business process outsourcing will maintain its current leverage through steady
