Leading global position in the banking software and payment processing solutions market High recurring revenues Consistent operating margins Financial services sector client concentration, offset by favorable industry demand trends Highly competitive industry conditions Strong cash flow generation Moderate acquisition appetite Financial policy is expected to be balanced between growth investments and shareholder returns Standard&Poor's Ratings Services' outlook on Fidelity National Information Services Inc. (FIS) is stable, reflecting the company's diversified and recurring revenue model and strong cash-generating ability. We could lower the rating if more aggressive financial policies, including material, debt-financed acquisitions or share repurchases, resulted in sustained leverage in excess of 3x. Although not likely in the near term, we could raise the rating if revenue growth
