We expect Dallas-based CBRE Group Inc. will continue to deliver good operating results in 2026 despite ongoing macroeconomic headwinds and pressure from secular changes related to technology trends given our view of its leading position in the business services sector. We affirmed all our ratings on CBRE Group and subsidiary CBRE Services Inc. , including our ?BBB+? long-term issuer credit rating and ratings on its senior unsecured notes. We also assigned our short-term rating of ?A-2? to the entity CBRE Group. The stable outlook reflects our expectations of stabilized business across commercial real estate to support earnings growth, offsetting our forecast for sustained debt to EBITDA in the 2x-3x range over the next two years. CBRE has a high proportion
