CHICAGO--(BUSINESS WIRE)--Cushman & Wakefield (NYSE: CWK), a leading global real estate services firm, recently announced that Moody's Investors Service has raised the company’s senior secured rating to Ba3, with a stable outlook.
The rating upgrade reflects Cushman & Wakefield's sustained improvement in its leverage metric, as measured by Debt/EBITDA, benefiting primarily from its recapitalization during its Initial Public Offering.
“Our recent Moody's upgrade is further validation of the breadth of our platform, resiliency of our cash flows, strong operating performance and our solid balance sheet with over $1.7 billion of liquidity as of December 31, 2018,” said Duncan Palmer, Chief Financial Officer for Cushman & Wakefield.
About Cushman & Wakefield
Cushman & Wakefield (NYSE: CWK) is a leading global real estate services firm that delivers exceptional value for real estate occupiers and owners. Cushman & Wakefield is among the largest real estate services firms with approximately 51,000 employees in 400 offices and 70 countries. In 2018, the firm had revenue of $8.2 billion across core services of property, facilities and project management, leasing, capital markets, valuation and other services. To learn more, visit www.cushmanwakefield.com or follow @CushWake on Twitter.