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S&P: Digital Realty notes BBB
Standard & Poor’s said it assigned a BBB rating to Digital Realty Trust Inc.’s wholly owned subsidiary Digital Realty Trust LP’s proposed senior unsecured notes due 2022.
The proceeds will be used to fund eligible green projects, including the development and redevelopment of such projects, S&P said.
The proceeds also will be used to repay borrowings under the global revolving credit facility, the agency said.
The ratings reflect the company’s satisfactory business risk profile and intermediate financial risk profile, S&P said.
The company’s 130-property portfolio throughout North America, Europe, Asia and Australia, its high degree of tenant diversity and well-staggered lease expiration schedule supports its ratings, the agency said.
The company’s outlook is stable, based on an expectation of improved occupancy, modestly improving rental rates and debt-to-EBITDA trending lower as operating earnings improve, S&P said.
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