Brink's business and financial profiles have improved following the sale of BAX Global. Not only has Brink's eliminated its exposure to a very cyclical and competitive business, it now also has sufficient funds to significantly reduce debt, and still reward shareholders. |
It's taken a lot longer than we anticipated. We had hoped to have it open last fall --then this spring. |
The preferred stock downgrade reflects our expectation that Kansas City Southern will not make the preferred dividend payments due in mid-May 2006 because of bond indenture covenant restrictions. |