Standard&Poor's Ratings Services' ratings on Richmond, Va.-based The Brink's Co. reflect its recognized brand name in the cash-in-transit (armored car) and cash management/logistics industry, established reputation for quality and reliability, good geographic and customer diversity, expanding service offerings, solid profitability, and moderate financial policies. Competitive and somewhat cyclical markets and sizable (but manageable) postretirement obligations offset these strengths. Brink's previously operated a home security business, but it spun off that business on Oct. 31, 2008, into a separate, publicly traded company in a tax-free stock distribution to shareholders. We characterize Brink's business profile as satisfactory and its financial profile as intermediate. Brink's estimates that it has a 19% share of the fragmented global secure logistics market. It's been
