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 outlook on Jacksonville, Fla.-based banking and payments technology and outsourcing solutions provider Fidelity National Information Services Inc. (FIS) is stable. The stable outlook reflects FIS's diversified and recurring revenue model and strong cash-generating ability. We expect FIS to maintain leverage generally at or below 2.5x. We could lower the rating if more aggressive financial policies, including material, debt-financed acquisitions or share repurchases result in sustained leverage
