Initial Analytical Outcome ("Anchor") And Rating Result Our 'A' rating on food services company Compass Group PLC is derived from: Our anchor of 'a', based on our "strong" business risk and "modest" financial risk profile assessments for the company. Modifiers have no impact on the final rating outcome. Leading global player in the food service industry. Portfolio of established brands and high contract retention rates. Competitive and fragmented industry with low entry barriers and limited price flexibility. Weak economic growth in the European market Track record of strong credit metrics. Solid free operating cash flow (FOCF) generation. Relatively stable and predictable revenues, margins, and cash flows due to low capital requirements. "Strong" liquidity position. The stable outlook reflects our view
