Fitch changes Brink’s outlook to stable

Fitch Ratings said it changed its outlook for the Brink’s Co. (BCO) to stable from negative and affirmed its ratings, including the senior secured credit facilities at BBB-/RR2 and senior unsecured notes at BB+/RR4.

“The revised stable outlook reflects BCO's shift in financial and capital deployment policies, in 2023 lowering its net leverage target to 2x-3x, which is below the low-to-mid 3x it operated in the 2020-2022 timeframe, and shifting focus to operational improvements over outsized M&A. Solid execution to date on BCO's Strategy 1.0 and 2.0 growth and profitability plans have supported deleveraging in 2023 through EBITDA growth,” Fitch said in a statement.

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