CB Richard Ellis Announces Double-Ratings Upgrade From Moody's

(PRWEB) April 25, 2006 -- CB Richard Ellis Group, Inc. (NYSE:CBG) announced that Moody's Investor Services has issued a double-ratings upgrade on the Company's senior debt and senior subordinated debt to Ba1 and Ba2, respectively. Moody's also said its rating outlook for CB Richard Ellis ( http://www.cbre.co.th/cbrecontent/homepage.htm?WT.mc_id=10006 ) is stable.

This is the third time in the past two years that Moody's has upgraded its ratings for CB Richard Ellis. Moody's cited the Company's "continued improvement in operating performance, reduction in leverage and strengthening global franchise" as reasons for the upgrade. "CB Richard Ellis has deepened its leadership in commercial property sales and brokerage, and has used its strengthening earnings to reduce its debt," Moody's said.

"Debt reduction has been an integral part of our corporate strategy for the past three years, and the latest Moody's upgrade reflects the continuing success of that strategy," said Brett White, President and Chief Executive Officer of CB Richard Ellis.

Press Contact: Ngamjai Jearrajarat
Company Name: CB Richard Ellis (Thailand)
Email: cbrecoth@inetasia.com
Phone: +66 2 654 1111
Website: http://www.cbre.co.th/cbrecontent/homepage.htm?WT.mc_id=10006