...- Our view of Capgemini's business profile continues to improve, reflecting the integration of Altran, with synergies exceeding our expectations, together with the group's persistent organic investments. The company is increasing its scale, expertise, and consulting capabilities, which is positioning it well to capture a larger share of the strong industry demand for IT services. - Capgemini's improving business strength is translating into strong financial performance, with continued margin improvement and outsized revenue growth, and resilient cash flow generation even during the pandemic. - We therefore revised our outlook to positive from stable and affirmed our '###' ratings on Capgemini. - The positive outlook reflects the potential for an upgrade if the company continues to strengthen its business profile and improve its margins. We would also expect the company to maintain a sustainable financial cushion, supported by strong cash flow conversion and disciplined financial policy,...
