Standard&Poor's Ratings Services said today that the announcement by U.K-based Compass Group PLC (BBB+/Stable/--), the largest food-service company in the world, that it had reached an agreement to sell its TraveLodge and Little Chef businesses for about £712 million in cash to the private equity fund Permira does not affect the ratings or outlook on the company. Compass' business profile should not be adversely affected, as TraveLodge and Little Chef account for about 3.5% and 11.6% of Compass' consolidated sales and EBITDA, respectively, and their absence will not change the balance of the group's portfolio of activities. While the disposal will result in a loss of operating cash flow, Standard&Poor's expects Compass to apply about £400
