LOS ANGELES--(BUSINESS WIRE)--CBRE Group, Inc. (NYSE:CBG) today announced that Moody's Investors Service has raised the Company’s senior secured bank credit facility and senior unsecured ratings to Investment Grade (Baa3), with a stable outlook.
In making the upgrade, the Moody’s analysis cited CBRE’s conservative capital structure, sound financial policy and increased contractual and recurring revenue sources.
“The Moody’s upgrade is a strong endorsement of our strategy of thoughtfully managing our balance sheet while investing in our people, platform and service offering to create real advantage for our clients and to enhance the competitive position of CBRE,” said Jim Groch, CBRE’s chief financial officer and global director of corporate development.
In December 2014, Standard & Poor’s Rating Services (S&P) raised CBRE’s corporate rating to Investment Grade (BBB-).
About CBRE Group, Inc.
CBRE Group, Inc. (NYSE:CBG), a Fortune 500 and S&P 500 company headquartered in Los Angeles, is the world’s largest commercial real estate services and investment firm (in terms of 2014 revenue). The Company has more than 52,000 employees (excluding affiliates), and serves real estate owners, investors and occupiers through more than 370 offices (excluding affiliates) worldwide. CBRE offers strategic advice and execution for property sales and leasing; corporate services; property, facilities and project management; mortgage banking; appraisal and valuation; development services; investment management; and research and consulting. Please visit our website at www.cbre.com.