Standard&Poor's published its revised corporate ratings criteria on Nov. 19, 2013. In our test of hypothetical sovereign stress, Infosys has sufficient financial strength to be rated up to two notches above the T&C assessment of India. We are raising our long-term corporate credit rating on the India-based information technology services company to 'A-' from 'BBB+'. We are removing the rating from CreditWatch, where it was placed with positive implications on Nov. 26, 2013. The stable outlook on Infosys reflects our expectation that the company will maintain its competitive position to generate stable cash flows and adopt conservative financial policies. On Dec. 13, 2013, Standard&Poor's Ratings Services raised its long-term corporate credit rating on India-based information technology
