S&P: Digital Realty preferreds at BB+

Standard & Poor's said it assigned a BB+ rating to Digital Realty Trust Inc.'s $250 million of cumulative redeemable preferred stock series E.

The proceeds will be used to temporarily repay borrowings under its revolving credit facility, acquire additional properties, fund development and redevelopment opportunities and for general corporate purposes, S&P said.

The ratings acknowledge the company's satisfactory business profile, given its good competitive position, moderate leverage and strong debt coverage measures, S&P said.

The stable outlook reflects Digital Realty's well-occupied portfolio, manageable lease expirations, contractual rent increases and currently favorable mark-to-market rent profile, the agency said.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.