CHICAGO (Standard&Poor's) Feb. 22, 2013--Standard&Poor's Ratings Services said today that it assigned its 'B-' rating to Philadelphia-based ARAMARK Corp. 's proposed $1.0 billion senior unsecured notes due 2020. The recovery rating on the proposed notes is '6', indicating that lenders could expect negligible (0% to 10%) recovery in the event of a payment default or bankruptcy. The 'BB-' issue and '2' recovery ratings on the existing senior secured debt, including the proposed term loan D which is being upsized to $1.4 billion from $1.0 billion, remain unchanged. We expect that the proceeds from the food and support service operator's proposed notes will be used primarily to repay balances under its $500 million senior unsecured floating-rate notes
