 Slow exponential plus an exponential sample mean

Let $S$ be a fixed sum of independent exponential random variables with smallest rate $\lambda >0$, and let $Z_N$ be the sum of $N-k$ independent rate-$r$ exponential random variables, independent of $S$, with fixed $k$ and $r>\lambda$. At large-deviation speed $N$, $S/N$ has rate function $\lambda y$ for $y\ge 0$; the sample mean has rate function $K_r(z)=rz-1-\log (rz)$ for $z>0$. The product large-deviation principle and contraction principle for large deviations giveIndeed the derivative of the quantity minimized with respect to $z$ is $r-\lambda -1/z$. Its minimizer is $\min (x,(r-\lambda {)}^{-1})$. Beyond that transition, a single slow exponential random variable carries the extra excursion; the rate function becomes affine.