Moody’s Raises CBRE’s Debt Rating to Baa2 with Positive Outlook
LOS ANGELES--(BUSINESS WIRE)-- CBRE Group, Inc. (NYSE:CBRE) today announced that Moody's Investors Service has raised its senior unsecured rating to Baa2, with a positive outlook.
Last month, Standard & Poor’s Global Ratings raised CBRE’s corporate rating to BBB+.
In making the upgrade, the Moody’s analysis cited CBRE’s strong market position, improving credit profile and increased revenue from recurring sources.
“We have pursued a strategy of conservatively managing our balance sheet while investing proactively in our business to support the company’s growth. The Moody's upgrade – coupled with a similar move by S&P last month – provides strong evidence that our strategy is working,” said Jim Groch, Chief Financial Officer and Global Director of Corporate Development 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 2017 revenue). The company has more than 80,000 employees (excluding affiliates), and serves real estate investors and occupiers through approximately 450 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.
CBRE Group, Inc.
Source: CBRE Group, Inc.
Released April 23, 2018