Moody’s changes GEO Group to stable

Moody's Investors Service said it affirmed the B1 senior unsecured rating of GEO Group, Inc. and revised the outlook to stable from negative.

Moody’s said the outlook revision reflects the current Attorney General's February 2017 memorandum, reversing the U.S. Justice Department's plans to phase out its use of privately operated prisons.

“The outlook revision reflects the increased clarity surrounding the state and federal authorities' reliance on private prison facilities. The continued need for prison privatization at the state and federal levels, is a positive development for both GEO Group and the private prison industry,” the agency said in a news release.

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