S&P affirms Infosys

Standard & Poor's said it affirmed India-based Infosys Technologies Ltd.'s BBB corporate credit rating. The outlook is stable.

The agency said the rating on Infosys reflects its conservative financial policy and profile, superior cost efficiency and improving business and customer diversity.

These strengths are, however, partly offset by high capital expenditure and spending on training, constraints affecting its India-based operations and the cyclical nature of the IT service industry, S&P said.

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