Ratings on Brink's Co. (The) reflect the diversity of its operations and the solid profitability of its armored car and cash management business and home security business, tempered by the more volatile and currently depressed (albeit improving) performance of its BAX Global airfreight business. Ratings also reflect Brink's (formerly known as The Pittston Co.) moderate financial policies, offset somewhat by challenges associated with liabilities related to former coal operations, including postretirement benefit obligations. Standard&Poor's believes that Brink's will continue to generate improved results over the near to intermediate term, which should help the company to further strengthen its credit profile. Management has stated that it is committed to reducing financial risk over time through debt repayment and/or the
