Leading global player in the food service industry, with strong positions in North America, Europe, and Japan. Diversified geographic coverage and client base. Relatively stable and predictable revenues, margins, and cash flows, due to a portfolio of established brands and high contract retention rates. Good free cash flow generation owing to low and predictable capital requirements. Highly competitive and fragmented industry with low barriers to entry, low margins, and limited price flexibility. Some exposure to food input price inflation. Economic uncertainty in established markets like North America and Europe. The rating on Compass reflects Standard&Poor's Ratings Services' view of the group's leading global position in the food services industry, a position it maintains with a geographically diverse portfolio
