25 June 2025
Mitie Group plc
LEI number: 213800MTCLTKEHWZMJ03
Mitie Group plc - DBRS Morningstar confirms Mitie's Investment Grade Rating unchanged at BBB
Mitie 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").
DBRS 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.
The 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.
Phil Bentley, Group Chief Executive, Mitie, said:
"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."
To read the full DBRS Morningstar report, click here.
Further details of the proposed acquisition are set out in the scheme document published by Marlowe plc on 23 June which can be accessed here.
- Ends -
For further information, contact:
Kate Heseltine
| Group IR & Corporate Finance Director | M: +44 (0)738 443 9112 |
Claire Lovegrove
| Director of Corporate Affairs | M: +44 (0)790 027 6400 |
Neil Bennett
| H/Advisors Maitland | M: +44 (0)790 000 0777 |
|
About Mitie: "Better places; Thriving Communities"
Founded 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 for their colleagues and customers, as well as providing data-driven insights to inform better decision-making.
In each of our core services of engineering (hard services) and security and hygiene (soft services) we hold market leadership positions. We also deliver projects capabilities in the areas of power and grid connections, building fit outs & modernisation, decarbonisation, fire & security, and telecoms infrastructure. Our sector expertise includes central government, critical national infrastructure, defence, financial services, healthcare & life sciences, local government & education, retail & logistics and transport & aviation.
We hold industry-leading ESG credentials, including a place on the CDP Climate change A List, and we have received multiple industry awards recently including B2B Marketing Team of the Year, Best Low Carbon Solution and Net Zero Carbon Strategy of the year. Targeting Net Zero by the end of 2025, our ambitious emissions reduction plans have been validated by the Science Based Targets initiative (SBTi). We have been recognised as a UK Top Employer for the seventh consecutive year and Most Admired Company in the Support Services sector. Find out more at www.mitie.com.
RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.