SOURCE: JLL

JLL

December 16, 2014 16:47 ET

Standard & Poor's Upgrades JLL's Investment-Grade Credit Rating

CHICAGO, IL--(Marketwired - Dec 16, 2014) - Jones Lang LaSalle Incorporated (NYSE: JLL) today announced that Standard & Poor's Ratings Services (S&P) has raised JLL's credit rating to "BBB" from "BBB-." JLL's issuer and senior unsecured ratings from both S&P (BBB) and Moody's Investors Service (Baa2) are now aligned as solid investment-grade ratings.

The rating increase follows S&P's outlook change for JLL to positive in June 2014 and a recently announced change in ratings methodology. In its June analysis, S&P recognized JLL's conservative financial management, competitively strong market positions, wide geographic presence and well-executed global growth strategy.

"JLL's upgrade by S&P reflects our globally diversified strength, consistent business performance across all regions, superior client services and effective execution of strategic initiatives," said Christie Kelly, Chief Financial Officer of JLL. "We take great pride that we now have solid investment-grade ratings from both rating agencies." 

Kelly continued, "We remain committed to investing for the benefit of our clients and employees, driving growth and productivity, and maintaining a strong balance sheet."

JLL reported $3.1 billion fee revenue for the first nine months of the year, up 17 percent from 2013, and Adjusted EPS of $4.38, up 46 percent from 2013. JLL recently announced a 9 percent increase in its semi-annual dividend to $0.25 per share from $0.23 per share, reflecting continued confidence in the firm's cash generation. 

For more information on JLL's financial performance visit the Investor Relations site: http://www.jll.com/investor-relations.

About JLL
JLL (NYSE: JLL) is a professional services and investment management firm offering specialized real estate services to clients seeking increased value by owning, occupying and investing in real estate. With annual fee revenue of $4.0 billion and gross revenue of $4.5 billion, JLL has more than 200 corporate offices, operates in 75 countries and has a global workforce of approximately 53,000. On behalf of its clients, the firm provides management and real estate outsourcing services for a property portfolio of 3.0 billion square feet, or 280.0 million square meters, and completed $99.0 billion in sales, acquisitions and finance transactions in 2013. Its investment management business, LaSalle Investment Management, has $53.0 billion of real estate assets under management. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit www.jll.com.

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