The rating reflects Standard&Poor's Ratings Services' expectation that Fidelity National Information Services (FIS) will maintain consistent profitability, based on our view of the company's good market position and improved operating scale. The rating also incorporates our expectation that an acquisitive growth strategy and historically aggressive financial policy could limit improvements in FIS' financial profile. FIS is a leading global provider of core financial institution processing, card issuer, and transaction processing and outsourcing services. With annual revenues in excess of $5.4 billion, FIS' satisfactory business profile reflects an enhanced market position following the October 2009 acquisition of Metavante Corp., strong operating margins and contractual relationships that generate a significant base of recurring revenues. Adjusted EBITDA margins (including merger-related restructuring
