U.S.-based secure transportation company Brink's is experiencing margin pressures in its European and North American operations. This, coupled with an increase in unfunded postretirement obligations, has caused some deterioration in credit metrics. We are affirming our ratings on the company but are revising the outlook to negative from stable. If credit metrics deteriorate without the likelihood of rebounding, we could lower the ratings. NEW YORK (Standard&Poor's) March 9, 2012--Standard&Poor's Ratings Services said today that it affirmed its ratings, including its 'BBB' corporate credit rating, on Richmond, Va.-based The Brink's Co. but revised the outlook to negative from stable. "The outlook revision reflects recent deterioration in Brinks' credit metrics, stemming from cyclical and competitive pressures in its
