NEW YORK (Standard&Poor's) Nov. 16, 2005--Standard&Poor's Ratings Services today placed its ratings, including its 'BBB' corporate credit rating, on The Brink's Co. on CreditWatch with positive implications. The CreditWatch placement follows the company's announcement that it has reached a definitive agreement to sell its BAX Global airfreight business to Deutsche Bahn AG for $1.1 billion in cash (about $900 million, net of taxes and transaction-related expenses). The transaction is expected to be completed around year-end. Richmond, Va.-based Brink's has about $800 million of lease-adjusted debt. "The sale of the airfreight operations should improve Brink's business risk profile by eliminating a business subject to significant competitive pressures and volatility in earnings," said Standard&Poor's credit analyst
