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S&P Credit Rating raised after adjustments to the balance sheet

G4S PLC outlook revised to ‘Stable’ owing to improved credit metrics

G4S logo

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.