Moody’s rates Genpact notes Baa3

Moody's Investors Service said it assigned a Baa3 rating to the $350 million five-year senior unsecured notes issued by Genpact Luxembourg Sarl, a wholly owned subsidiary of Genpact Ltd. (Baa3 stable).

The outlook is stable.

The notes are unconditionally guaranteed by Genpact. Proceeds will be used to repay all outstanding loans under Genpact's revolving credit facility, and the remainder will be applied toward general corporate purposes.

"Genpact's Baa3 rating reflects its financial discipline, as well as its prudent and well-articulated financial policies, which have resulted in net debt/EBITDA remaining below 2.0x on a consistent basis," Moody's associate vice president and analyst Saranga Ranasinghe said in a news release.

"Furthermore, Genpact's strong business profile is reflected in its diversified revenue streams, strong margins and recurring cashflows."

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