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NEW YORK--(BUSINESS WIRE)--
Cushman & Wakefield (NYSE: CWK), a leading global commercial real estate services firm, announced today that S&P Global Ratings (“S&P”) upgraded CWK’s issuer credit rating to BB from BB- and revised the outlook to stable from positive.The upgrade is another acknowledgement of clear improvement in the company’s credit profile and follows the upgrade of CWK’s corporate family rating by Moody’s Ratings to Ba3 from B1 on September 28, 2026.
“Back-to-back upgrades from two of the leading rating agencies are a meaningful endorsement of the progress we have made strengthening our balance sheet and the durability of our business," said Michelle MacKay, Chief Executive Officer at Cushman & Wakefield. "Our teams around the world have stayed focused on cash generation and financial flexibility, and we intend to build on this momentum as we continue investing in our clients and our platform for the long term.”
About Cushman & Wakefield
Cushman & Wakefield (NYSE: CWK) is a leading global commercial real estate services firm for occupiers and investors with approximately 53,000 employees in over 350 offices and nearly 60 countries. In 2025, the firm reported revenue of $10.3 billion across its core service lines of Services, Leasing, Capital markets, and Valuation and other. Built around the belief that Better never settles, the firm receives numerous industry and business accolades for its award-winning culture. For additional information, visit www.cushmanwakefield.com.
An issuer credit rating is an independent grade assigned to a company or government that summarizes how likely it is to meet its debt obligations, like a credit score or report card for a borrower. Investors use it to judge risk: a higher rating means lower chance of default and usually lower borrowing costs, while a lower rating signals greater risk and can make bonds more expensive or volatile, affecting returns and portfolio decisions.
corporate family ratingfinancial
A corporate family rating is a single credit score assigned to an entire group of related companies that reflects the likelihood the group can meet its financial obligations. It looks at the combined strength of the parent and core subsidiaries rather than any one bond or loan. Investors use it like a household credit score: it helps judge overall default risk, influences borrowing costs and bond prices, and guides decisions about exposure to the whole corporate group.