The ratings on Sweden-based security services provider Securitas AB reflect Standard&Poor's Ratings Services' view of the group's "strong" business risk profile, evidenced by its position as the world leader in the relatively recession-resilient security services market, its flexible cost base, diversified customer base, strong geographic coverage, and solid track record. These strengths are offset to a degree by Securitas' "intermediate" financial risk profile and the competitive nature of the group's markets. Supporting our assessment of Securitas' business risk profile is the fact that demand for security services has remained relatively resilient, despite declining somewhat during the recent downturn. Securitas is a market leader in the key geographies of Europe and North America and we anticipate that the group
