Bulletin: The Brink's Co. Ratings Unchanged On Announced Acquisition Of Dunbar Armored

NEW YORK (S&P Global Ratings) May 31, 2018--S&P Global Ratings said today that its ratings and outlook on U.S.-based cash-management services provider The Brink's Co. (BB+/Stable/--) are unaffected by the announcement of its definitive agreement to acquire Dunbar Armored for approximately $520 million. We expect the acquisition to close by the end of 2018 and will be funded with cash on hand. The acquisition of Dunbar is aligned with company's three-year strategic plan of organic growth and acquisitions. The plan outlines Brink's intention to invest about $400 million annually on mergers and acquisitions (M&A) through 2019. We expect total acquisition spending in 2018 of $685 million, consisting of the $520 million Dunbar acquisition and $145 million Rodoban acquisition (announced in

...NEW YORK (S&P Global Ratings) May 31, 2018--S&P Global Ratings said today that its ratings and outlook on U.S.-based cash-management services provider The Brink's Co. (##+/Stable/--) are unaffected by the announcement of its definitive agreement to acquire Dunbar Armored for approximately $520 million. We expect the acquisition to close by the end of 2018 and will be funded with cash on hand. The acquisition of Dunbar is aligned with company's three-year strategic plan of organic growth and acquisitions. The plan outlines Brink's intention to invest about $400 million annually on mergers and acquisitions (M&A) through 2019. We expect total acquisition spending in 2018 of $685 million, consisting of the $520 million Dunbar acquisition and $145 million Rodoban acquisition (announced in January 2018 and awaiting regulatory approval). These transactions will exhaust all of the company's excess cash, which was $562 million as of the last-12-month (LTM) period ended March 31, 2018. The remaining...

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