S&P puts Cyxtera on watch

S&P said it placed its B- issuer credit rating and all other ratings on Cyxtera Technologies Inc. on CreditWatch with negative implications.

Cyxtera’s $120 million revolver ($95 million available as of June 30, 2022) comes due in November 2023.

“Absent external cash infusions or a significant pullback in capital spending, the company is reliant on access to the revolver to fund projected cash shortfalls over the next 12 months,” S&P said in a news release.

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