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Fitch affirms Aramark
Fitch Ratings said it affirmed Aramark Corp.'s ratings as follows: long-term issuer default rating at B, $600 million revolving senior secured credit facility due 2013 BB-/RR2, $4.15 billion senior secured term loans due 2014 BB-/RR2, $200 million senior secured synthetic letter of credit facility due 2014 BB-/RR2, $1.78 billion senior unsecured notes due 2015 B-/RR5 and $250 million senior unsecured notes due 2012 CCC+/RR6.
The outlook is stable.
Fitch said it has simultaneously withdrawn the issuer default rating for Aramark Services, Inc., which is no longer a debt issuing entity.
According to the agency, Aramark's ratings and outlook incorporate its high financial leverage, below average operating risk and Fitch's expectations that credit statistics will remain at levels consistent with the company's current ratings in the near term.
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