The ratings on Richmond, Va.-based The Brink's Co. reflects its recognized brand name in the armored car and cash management industry, established reputation for quality and reliability, good geographic and customer diversity, solid profitability, and moderate financial policies. Competitive and somewhat cyclical markets and sizable postretirement obligations offset these strengths. Brink's previously operated a home security business, but it spun off that business on Oct. 31, 2008 into a separate, publicly traded company in a tax-free stock distribution to shareholders. Brink's estimates that it has a 17% share of the fragmented secure logistics market. It has been in this business for more than 140 years and has built a diversified base of long-time, established customers that include numerous leading financial
