Leading global position in the banking software and payment processing solutions market Moderate growth potential, particularly in international markets Financial services sector client concentration High degree of recurring revenues Consistent operating margins Moderately acquisitive growth strategy Consistently strong free operating cash flow (FOCF) Balanced approach to growth investments and shareholder returns "Strong" liquidity The stable outlook reflects the Fidelity National Information Services Inc.'s (FIS) 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 above 3x. Although not likely in the near term, we could raise the rating if FIS maintains consistent revenue growth and profitability, as well as sustained,
