Press Release: Sodexho Marriott Services, Inc.
December 1, 2000
GAITHERSBURG, MD -- Citing Sodexho Marriott Services' market leadership and strong growth potential, Standard &
Poor's announced that it assigned the company a long term credit rating of BBB, the highest such rating among all
publicly held food and facilities management companies in North America. Additionally, Sodexho Marriott Services
earned a short-term credit rating of A-2, with S&P noting that the company enjoys strong cash flow and is steadily
reducing debt.
S&P said in its announcement that the ratings, ``primarily reflect implicit support'' from Sodexho Alliance,
which owns a 48 percent stake in Sodexho Marriott Services. ``The ratings also reflect Sodexho Marriott Services'
leading position in the North American market, as well as the good visibility and stability of its cash flow,''
S&P added. ``Growth prospects are strong- given the fairly low penetration of outsourcing in food and facilities
management -- as organizations are increasingly seeking to improve efficiency and lower the costs of such services.
Sodexho Marriott Services'...strong reputation, and leading market share in most of its businesses should position
it favorably to take advantage of growth potential in a consolidating industry.''
This marks the company's first credit rating since its creation in March 1998 through the merger of Sodexho Alliance's
North American operations and Marriott Management Services, the food and facilities management division of Marriott
International.
``We are pleased that Standard & Poor's has recognized the value of our growth strategy,'' said Sodexho Marriott
Services President and CEO Michel Landel. ``We are the industry leader, our cash flow is strong and steady, and
we enjoy one of the best contract retention rates in the industry.''
Sodexho Marriott Services, Inc. (NYSE: SDH) is the largest provider of food and facilities management in North
America, with $4.7 billion in annual sales. Sodexho Marriott Services offers a variety of innovative outsourcing
solutions, including food service, housekeeping, grounds keeping, plant operations and maintenance, asset and materials
management, and laundry services to corporations, health care facilities, schools, universities and colleges, and
remote sites. Headquartered in Gaithersburg, MD, the company has 111,000 employees at 5,000 locations across the
U.S. and Canada.
SOURCE: Sodexho Marriott Services, Inc.