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Moody’s assigns Baa2 to Digital notes
Moody's Investors Service said it assigned Baa2 senior unsecured ratings to Digital Dutch Finco BV's three note issues that are guaranteed by its parent Digital Realty Trust, LP and its parent Digital Realty Trust, Inc. The notes have been assigned a Baa2 rating based on the guarantees from the issuer's parent and the REIT.
The proceeds will be used to repay Interxion Holding NV debt, which was about $1.3 billion at the end of the third quarter, upon completion of the merger and finance or refinance eligible green projects.
In October, Digital Realty announced it was acquiring the European data center company Interxion for $8.4 billion. The Digital Dutch debt issues have a mandatory redemption clause at 101% of principal balance plus any accrued and unpaid interest if the Interxion merger is not completed by Oct 29.
The outlook is stable.
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