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.

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