Moody’s gives B2 to Aramark notes

Moody's Investors Service said it assigned a B2 rating to Aramark Services, Inc.'s proposed $300 million senior unsecured notes due 2024.

All other ratings, including the Ba3 corporate family rating, and the stable outlook remain unchanged.

Net proceeds from the new notes will be used for general corporate purposes, including to reduce the outstanding balances under Aramark's existing revolving credit facility.

"Moody's expects slow but steady EBITDA growth and debt reduction to drive Aramark's debt to EBITDA below 4.5 times in 2016," Moody's senior credit officer Edmond DeForest said in a news release.

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