Recognized brand name; Established reputation for quality and reliability; Good geographic and customer diversity; and Moderate financial policies. Sizable (but manageable and shrinking) liabilities associated with former coal business; and Competitive end markets. The ratings on The Brink's Co. reflects its recognized brand name, established reputation for quality and reliability, good geographic and customer diversity of its remaining armored car and cash management business, solid profitability, and moderate financial policies. Offsetting these strengths are competitive markets and sizable (but manageable and shrinking) liabilities associated with former coal operations. Brink's completed the spin-off of Brink's Home Security (BHS) into a separate, publicly traded company in a tax-free stock distribution to shareholders on Oct. 31, 2008. Standard&Poor's Ratings Services lowered
