Standard&Poor's Ratings Services' 'BBB-' corporate credit rating on The Brink's Co. is derived from: Our anchor of 'bbb-', based on our "satisfactory" business risk and "intermediate" financial risk profile assessments for the company. The choice of the 'bbb-' anchor, given the two potential outcomes ('bbb' and 'bbb-') for this combination of business risk and financial risk assessments, reflects the relative strength of Brink's business risk profile, which we consider to be at the weaker end of the range for the "satisfactory" assessment. Analytical modifiers, which had no impact on the rating outcome. Recognized brand name and established reputation for quality and reliability Competitive and somewhat cyclical markets Good geographic diversity Exposure to political risk in certain markets (such
