NEW YORK (S&P Global Ratings) May 10, 2022--S&P Global Ratings today said that Aramark's (BB-/Stable/--) announced plan to spin-off of its Uniform Service business (AUS) into an independent, publicly traded company will sharpen the operational and financial focus of its stand-alone businesses despite the reduction in its cash flow diversity. We expect the transaction will be leverage neutral for Aramark because it will offset the lost EBITDA from the separation with a one-time cash distribution from AUS, which it will use to pay down debt. Additionally, we expect the company's performance in its core Food and Support Services (FSS) business will recover further this year, strengthening its credit metrics. Specifically, we forecast Aramark will improve its S&P Global Ratings-adjusted leverage
