Moody’s Raises CBRE’s Debt Rating to Baa2 With Positive Outlook
23 Apr 2018
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.
CBRE Group, Inc. (NYSE:CBRE), a Fortune 500 and S&P 500 company headquartered in Dallas, is the world’s largest commercial real estate services and investment firm (based on 2021 revenue). The company has more than 105,000 employees (excluding Turner & Townsend employees) serving clients in more than 100 countries. CBRE serves a diverse range of clients with an integrated suite of 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.