S&P keeps Brink's on watch

Standard & Poor's said ratings for Brink's Co. remain on CreditWatch, where they were placed with negative implications on Feb. 25, following the company's announcement that it planned to spin off its home security business in a tax-free stock distribution to shareholders.

The agency said it expects to lower the corporate credit rating to BBB from BBB+, to reflect the loss of diversity and the reduced cash flow and earnings stream that will result from the spinoff.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.