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S&P gives CBRE Group BBB+
S&P said it gave CBRE Group Inc. a BBB+ issuer rating. The company is CBRE Services Inc.’s parent holding company.
“The BBB+ rating on CBRE Group Inc. is in line with our rating on CBRE Services Inc. CBRE Group Inc. is the entity that files the group's consolidated SEC filings. CBRE Services Inc. is the main issuer of debt for the company. We therefore assess CBRE Services as a core subsidiary to CBRE Group Inc.,” S&P said in a press release.
The outlook is stable. “Our stable outlook on CBRE reflects our expectation that the company will maintain leverage of 1.5x-2x over the next 18-24 months, while maintaining its market-leading position in CRE services,” the agency said.
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