S&P upgrades Cushman & Wakefield’s issuer credit rating to BB
S&P Global Ratings raised Cushman & Wakefield’s issuer rating from BB‑ to BB with a stable outlook on October 6, 2026. The agency cited a recovery in commercial real‑estate activity and disciplined debt reduction that lowered adjusted leverage to 3.5x at year‑end 2025. S&P also expects revenue to grow 6%‑7% annually through 2027. The company’s CEO said the upgrade reflects improved balance‑sheet strength and cash‑generation focus.
Why it matters
S&P notes that the higher rating should give the firm cheaper financing and greater financial flexibility. The company expects to use excess free cash flow for strategic bolt‑on acquisitions while maintaining flexibility, according to the rating agency’s commentary.
Key facts
- 1S&P upgraded Cushman & Wakefield’s issuer credit rating to BB from BB‑ on October 6, 2026. investing.com
- 2Adjusted leverage fell to 3.5x at year‑end 2025, down from 4.5x a year earlier. investing.com
- 3S&P projects adjusted revenue to expand 6% to 7% annually through 2027. investing.com
- 4The outlook was changed to stable from positive. marketscreener.com
- 5Cushman & Wakefield reported revenue of $10.3 billion for 2025. marketscreener.com
- 6CEO Michelle MacKay said the upgrades endorse progress in strengthening the balance sheet and cash generation. marketscreener.com
Summary written by AlphAI from 3 of 3 sources. Not investment advice. Figures are as stated by the linked sources.