The market position of India-based Infosys Ltd. will continue to strengthen over the next 12-18 months, given its strong execution capabilities, amid favorable information technology (IT) spending trends. Infosys' cost advantage on offshore resources and good resource utilization rates will support its robust operating margins during this period. The company's conservative financial policies and management stability will also contribute to its superior credit profile. On Aug. 31, 2021, we therefore, raised our long-term issuer credit rating on Infosys to 'A' from 'A-'. The stable outlook for the next 18-24 months reflects our view that Infosys' revenue growth and margins will remain above average in relation to peers', and that the company's financial policies will remain conservative. The stable outlook on
