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. PARIS (Standard & Poor's) Feb. 18, 2013--Standard & Poor's Ratings Services today said it revised its outlook on France-based on-site and benefit services provider Sodexo to positive from stable. At the same...
Companies mentioned in this report are:
- Sodexo Inc.
Action: Outlook: Positive
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