LONDON (Standard&Poor's CreditWire) Feb. 12, 2001--Following the demerger of Compass Group PLC (Compass), the U.K.-based catering services group, from Granada PLC (Granada; BBB+/Watch Dev/--), and following the recent bondholder decision to substitute Compass as obligor, Standard&Poor's today assigned its triple-'B'-plus long-term corporate credit ratings to Compass. At the same time, its triple-'B'-plus rating was assigned to the £200 million senior unsecured bond due 2010 and, in addition, to the assigned ratings that were initially rated under Granada (see list below for all issues affected). Furthermore, all ratings were placed on CreditWatch with developing implications, indicating that ratings could be raised, lowered, or affirmed in the near to medium term. The ratings reflect the market position of
