On July 24, 2007, Standard&Poor's Ratings Services revised its outlook on the corporate credit rating on Infosys Technologies Ltd. (Infosys) to positive from stable. At the same time, Standard&Poor's has affirmed the 'BBB' rating on Infosys. The Indian-based IT services company reported 43% revenue growth for the fiscal year ended March 31, 2007, to US$3.1 billion, from US$2.2 billion in fiscal 2006. It is among the top three IT services company in India with net income of US$850 million for fiscal 2007. The 'BBB' corporate credit rating on Infosys Technologies Ltd. reflects the following strengths: Conservative financial policy and profile. Infosys has a clearly articulated and conservative financial policy that restricts the use of debt and
