Leading global player in the food services industry. Portfolio of established brands and high contract-retention rates. Competitive and fragmented industry with low entry barriers and limited pricing flexibility. Strong profitability. Track record of strong credit metrics. Solid free operating cash flow generation. Relatively stable and predictable revenues, margins, and cash flow due to low capital requirements. Strong liquidity position. Clearly stated financial policy that incorporates shareholder friendly policies such as share buybacks. The stable outlook on the U.K.-based multinational food services group Compass Group PLC reflects S&P Global Ratings' view that the group will maintain its solid operating performance, with adjusted funds from operations (FFO) to debt above 40%. We could consider lowering the ratings if Compass' cash flow dropped
