Business
Investment Grade Rating unchanged at BBB
Investment Grade Rating unchanged at BBB.
About this update from Mitie Group Plc
[{"type":"text","content":"\n\n25 June 2025\nMitie Group plc\nLEI number: 213800MTCLTKEHWZMJ03\n \nMitie Group plc - DBRS Morningstar confirms Mitie's Investment Grade Rating unchanged at BBB\n \nMitie Group plc (\"Mitie\" or \"the Group\") (LSE: MTO), the UK's leading facilities management and transformation company, notes that on 20 June 2025, DBRS Morningstar confirmed that Mitie's BBB investment grade credit rating remains unchanged as a result of the proposed acquisition of Marlowe Plc (\"Marlowe\").\n \nDBRS Morningstar views Marlowe's business lines as complementary to Mitie's existing operations, and cites Mitie's strong financial position and integration experience as factors that have influenced its assessment.\n \nThe confirmation follows Mitie's announcement on 5 June 2025 of its proposal to acquire Marlowe, a move aligned with the Group's strategy to expand capabilities in the Testing, Inspection and Certification sector.\n \nPhil Bentley, Group Chief Executive, Mitie, said:\n \n\"We welcome DBRS Morningstar's comments and rating confirmation, which we regard as a clear recognition of the Mitie Board's commitment to maintaining a strong balance sheet, operating within our leverage targets, and delivering good free cash flow throughout our three-year 'Facilities Transformation' plan.\"\n \nTo read the full DBRS Morningstar report, click here.\n \nFurther details of the proposed acquisition are set out in the scheme document published by Marlowe plc on 23 June which can be accessed here.\n \n- Ends -\nFor further information, contact:\nKate Heseltine\n\n\n\n\nGroup IR & Corporate Finance Director\n\n\nM: +44 (0)738 443 9112\n\n\nE: [email protected] \n\n\n\n\n \nClaire Lovegrove\n\n\n\n\nDirector of Corporate Affairs\n\n\nM: +44 (0)790 027 6400\n\n\nE: [email protected]\n\n\n\n\n \nNeil Bennett\n\n\n\n\nH/Advisors Maitland\n\n\nM: +44 (0)790 000 0777\n\n\nE: [email protected]\n \n\n\n\n\nAbout Mitie: \"Better places; Thriving Communities\"\n \nFounded in 1987, Mitie employs 76,000 colleagues and is the leading technology-led Facilities Transformation company in the UK. We are a trusted partner to a diverse range of blue chip customers across the public and private sectors, working with them to transform their built estates, and the lived experience fo...