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Moody’s raises Aramark, debt
Moody's Investors Service said it upgraded Aramark Services, Inc.'s corporate family rating to Ba2 from Ba3, probability of default rating to Ba2-PD from Ba3-PD, senior secured rating to Ba1 from Ba2 and senior unsecured rating to B1 from B2.
The speculative grade liquidity rating was affirmed at SGL-2.
The outlook remains stable.
"The upgrade of the CFR to Ba2 from Ba3 reflects improved margins and cash flow as well as Moody's expectations for ongoing, slow and steady improvements in profitability and stable debt to EBITDA around 4 times," Moody's vice president and senior credit officer Edmond DeForest said in a news release.
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