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Fitch: Digital Stout notes BBB
Fitch Ratings said it has assigned a credit rating of BBB to Digital Stout Holding, LLC's £300 million aggregate principal amount of 4.75% senior unsecured guaranteed notes due 2023.
Digital Stout Holding is a wholly owned subsidiary of Digital Realty Trust, LP, which is the operating partnership of Digital Realty Trust, Inc.
The notes were priced at a spread of 215 basis points over the United Kingdom Gilt Treasury Stock due 2023, the agency said.
Fitch noted that Digital Realty's BBB issuer default rating takes into account the company's strong access to capital evidenced by increasing institutional acceptance of the company's data center portfolio, as well as adequate liquidity due to laddered debt maturities, moderate retained cash flow and a less aggressive development pipeline. Credit strengths also include a global platform and limited tenant concentration.
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