Recognized brand name and established reputation for quality and reliability; Competitive and somewhat cyclical end markets; Good geographic diversity; Exposed to political risk in certain end markets; and Ongoing efforts to address the competitive pressures that the company faces in North America, which have hurt its profitability over the past few years. Sizable off balance-sheet obligations; Manageable funded debt burden because of the company's moderate financial policies; and Exposure to currency fluctuations. S&P Global Ratings' outlook on The Brink's Co. is stable. Over the past year, the company has made strides toward improving its operating efficiency and restructuring its business. We expect Brink's will continue these efforts as it seeks to strengthen its operating performance and expand its product offerings,
