CBRE Group Inc. is the parent holding company of CBRE Services Inc. and is the SEC filer for the consolidated group. CBRE Services Inc. is a core subsidiary of CBRE Group Inc. and is the main entity from which debt is issued. We assigned our 'BBB+' issuer credit rating to CBRE Group Inc. The stable outlook reflects our view that the company will maintain leverage of 1.5x-2.0x over the next 18-24 months, while maintaining its market-leading position in commercial real estate (CRE) services. On May 6, 2021, S&P Global Ratings assigned a 'BBB+' issuer credit rating to CBRE Group Inc. The outlook is stable. The 'BBB+' rating on CBRE Group Inc. is in line with our rating on CBRE Services
