Moody’s Raises CBRE’s Debt Rating to Baa1 with Stable Outlook
LOS ANGELES--(BUSINESS WIRE)-- CBRE Group, Inc. (NYSE:CBRE) today announced that Moody's Investors Service has raised the company’s senior unsecured rating to Baa1, with a stable outlook.
In making the upgrade, the Moody’s analysis cited CBRE’s strong business momentum, credit profile and growth in recurring revenue.
“The Moody's upgrade is a strong endorsement of our strategy of investing in the growth of our business while managing our balance sheet conservatively,” said Jim Groch, chief financial officer and chief investment officer for CBRE.
About CBRE Group, Inc.
CBRE Group, Inc. (NYSE:CBRE), a Fortune 500 and S&P 500 company headquartered in Los Angeles, is the world’s largest commercial real estate services and investment firm (based on 2018 revenue). The company has more than 90,000 employees (excluding affiliates) and serves real estate investors and occupiers through approximately 480 offices (excluding affiliates) worldwide. CBRE offers a broad range of integrated services, including facilities, transaction and project management; property management; investment management; appraisal and valuation; property leasing; strategic consulting; property sales; mortgage services and development services. Please visit our website at www.cbre.com.
Source: CBRE Group, Inc.
Released May 1, 2019