France-based on-site and benefit services provider Sodexo has been outperforming our expectations for the past fiscal year, and fundamentals remain solid in spite of macroeconomic uncertainties. We believe acquisition spending and returns to shareholders will remain moderate, given management's demonstrated financial discipline. We are therefore revising our outlook on Sodexo to positive from stable and affirming our 'BBB+' long-term corporate credit and issue ratings on the company. The positive outlook reflects our view that Sodexo will continue to deliver robust operating performance, despite the current uncertain economic climate. On Feb. 18, 2013, Standard & Poor's Ratings Services revised its outlook on France-based on-site and benefit services provider Sodexo to positive from stable. At the same time, we affirmed our 'BBB+'...
Companies mentioned in this report are:
- Sodexo Inc.
Action: Outlook: Positive
Standard and Poors RatingsXpress Credit Research provides in-depth coverage of international corporates, financial institutions, insurance companies, utilities, sovereigns and structured finance programs. RatingsXpress Credit Research lets users determine the credit rating of holdings and identify key factors underlying an issuer's creditworthiness, distinguishes the different risk exposures for new and existing deals, and provides an understanding of how their analysts interpret key regulatory, political and environmental events and their economic impact.
Product Type: Research Update
Research updates complement media releases. They offer more depth and detail than summary analyses by incorporating all information published in the media release. They are more up to date than summaries in that they are published simultaneously with media releases. SHOW LESS READ MORE >