NEW YORK (Standard&Poor's) Feb. 17, 2004--Standard&Poor's Ratings Services revised its outlook on CB Richard Ellis Services Inc. (B+/--) to positive from stable. This action was taken in response to the company's announcement of plans to raise capital in an initial public common stock offering. The company plans to use a portion of the proceeds to redeem debt. "While this is a positive move for the company's credit, the details of the final transaction remain to be determined," said Standard&Poor's credit analyst Robert B. Hoban, Jr. Standard&Poor's will review the final specifics of the transaction when they become available. Current ratings reflect CB Richard Ellis Services Inc.'s profitability and debt service coverage being
