Standard&Poor's Ratings Services recently removed its ratings on The Brink's Co. (formerly The Pittston Co.) from CreditWatch, followed completion of a review of the impact of Brink's unfunded postretirement benefit liabilities on credit quality. Standard&Poor's believes that these obligations, although sizable, are manageable and should not prevent the company from improving its financial profile over the next few years. The Richmond, Va.-based company, which operates armored car/cash management, home security, and heavyweight airfreight businesses, has about $800 million of lease-adjusted debt. Although Brink's unfunded postretirement benefit liabilities have increased over the past year and contributed to a weakening in the financial profile, the company is expected to generate free cash flow over the intermediate term and
