S&P Upgrades Geo Group to 'BB' Following $950 Million Debt Repayment

Key Facts

1S&P Global Ratings upgraded Geo Group Inc's credit rating to 'BB'.

2The upgrade follows the company's repayment of $950 million in debt.

S&P Global Ratings upgraded Geo Group Inc's credit rating to 'BB'. Investing.com reported that the upgrade follows the company's repayment of $950 million in debt.

The repayment of nearly $1 billion in debt triggered the upgrade by improving the company's leverage profile and overall financial stability. Despite the positive move, the company's rating remains in sub-investment grade territory.