The rating reflects Standard&Poor's Ratings Services' expectation that Fidelity National Information Services Inc. (FIS) will maintain its good market position, consistent profitability and a more balanced financial policy. 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 $5.7 billion, FIS' "satisfactory" business risk profile reflects an increasingly global market position, strong operating margins, and contractual relationships that generate a significant base of recurring revenues. We expect FIS to maintain adjusted EBITDA margins in the low-30% range, supported by growth-related operating efficiencies and a focus on cost control. Revenue growth opportunities include an ongoing market shift to outsourcing, the cross-selling of an integrated
