Infosys @ Latest News: S&P assigns higher ratings to Infosys than India

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Monday, April 04, 2005

S&P assigns higher ratings to Infosys than India

Standard & Poor's Ratings Services on Monday assigned its 'BBB-' foreign currency and 'BBB' local currency ratings to Infosys Technologies Ltd. (Infosys), an information technology software service provider based in India. The outlook is forecasted to be stable.

"The corporate credit rating on Infosys is the first in India to be higher than the sovereign ratings on India (BB+/Stable/B). This reflects Infosys' very conservative financial profile and policy, which feature ample liquidity, strong operating cash flow, and a debt-free balance sheet," said Standard & Poor's credit analyst Greg Pau, director in the Corporate and Infrastructure Ratings Group.