S&P Global Ratings Upgrades CBRE’s Debt Rating to BBB+
LOS ANGELES--(BUSINESS WIRE)-- CBRE Group, Inc. (NYSE:CBRE) today announced that S&P Global Ratings has raised the company’s long-term issuer credit rating to BBB+, with a stable outlook.
S&P analysis cited CBRE’s market-leading position, low net leverage, revenue diversification into more recurring fee-based services and conservative financial policies.
“The S&P upgrade is an endorsement of our strong financial position and business strategy. With low leverage, high liquidity and considerable free cash flow, CBRE is well positioned to make further investments in our people, platform and service offering, and to capitalize on market opportunities,” said Jim Groch, CBRE’s Chief Financial Officer and Global Director of Corporate Development.
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 March 26, 2018