U.S.-based ARAMARK Holdings Corp. has completed its initial public offering (IPO). We expect the company to sustain profitability, exercise a more moderate financial policy, and apply about $520 million towards debt repayment. We are raising our ARAMARK corporate credit rating two notches to 'BB' from 'B+', and removing the rating from CreditWatch, where it was placed with positive implications on Aug. 8, 2013. We are raising the senior secured and senior unsecured debt ratings by three notches, to 'BBB-' and 'BB-', respectively, from 'BB-' and 'B-', and removing these ratings from CreditWatch. The stable outlook reflects our forecast for modest profit growth as the company continues to benefit from outsourcing trends in the industry, enabling it to at least maintain
