S&P Credit Rating raised after adjustments to the balance sheet
Standard and Poors has announced today that the G4Splc credit rating has been revised to ‘stable’. The credit agency released a statement saying :
"The UK based security services provider G4S PLC has successfully placed nearly 141 million shares with proceeds totalling nearly £350 million.
In addition, G4S is due to receive nearly £100 million from a contracted disposal of assets in Canada and Columbia.
We anticipate that G4S' credit metrics for financial years 2013 and 2014 will be higher than we originally forecast due to a fall in net debt.
We are therefore revising our outlook on G4S to stable from negative. We are also affirming the corporate credit rating at 'BBB-'.”
The full report is available on the S&P website.