S&P lifts Infosys

S&P said it raised Infosys Ltd.’s issuer rating to A from A-.

“Infosys' strong execution capabilities and diversified digital offerings will drive growth over the next 12-18 months. We estimate spending on global IT services to rise by about 9% in 2021, compared with 2% growth in 2020. Increased demand for cloud adoption and digital capabilities will drive higher spending as client industries emerge from the effects of the pandemic. Infosys' growth will remain faster than the industry average, in our view, given the company's diversified suite of digital offerings, established client relationships and strong execution capabilities,” the agency said in a press release.

S&P said it forecasts Infosys’ revenue growing at about 15% in fiscal 2022 ending March 31.

The outlook is stable.

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