Fitch affirms Fidelity National Information

Fitch Ratings said it affirmed the BB- rating on the senior secured credit facility of Fidelity National Information Services (FIS) after the announcement of the proposed merger between FIS and Certegy, Inc.

In addition, Fitch said it affirmed the A- insurer financial strength ratings of the title insurance underwriting subsidiaries of Fidelity National Financial, Inc. and its BBB- long-term issuer rating.

The outlook is stable.

The agency said the combined FIS/Certegy entity would produce an estimated $4 billion in annual revenue and the long-term nature of the servicing contracts produces a very stable revenue stream, comparing favorably to the more cyclical revenue produced on the title insurance side.

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