S&P Upgrades FIS rating
Jan 23, 2013 (Close-Up Media via COMTEX) --
FIS, a provider of banking and payments technology, announced that Standard & Poor's (S&P) Ratings Services has upgraded FIS' corporate credit rating from BB+ to BBB- with a stable outlook.
According to a release, S&P cited the company's strong and consistent operating performance and cash flow, an expectation of a strategic focus on largely organic growth, and moderate financial policies.
"We are pleased that S&P recognizes the significant progress FIS has made in strengthening our balance sheet and achieving our stated goals to grow the business organically, expand margins and drive earnings growth, while maintaining a disciplined capital allocation policy," said Frank Martire, chairman and chief executive officer of FIS.
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