Digital Realty Trust to remain focused on maintaining BBB rating

By Jennifer Lanning Drey

Portland, Ore., March 4 - Digital Realty Trust, Inc. will manage its balance sheet to maintain a BBB rating, Michael Foust, chief executive officer of Digital Realty, said Thursday during a presentation at the Morgan Stanley Technology, Media & Telecom Conference in San Francisco.

"We think that is very important, and it's very important for our customers that we have the financial capability to develop these assets," Foust said.

Digital Realty has 10 critical markets where it is focused on deploying capital and plans to spend between $400 million and $450 million on new data-center facilities this year.

The company has current liquidity of about $850 million, made up of $100 million of cash combined with its full revolver capacity, Foust said.

The CEO also noted that Digital Realty has raised more than $620 million of capital in the debt markets in the last few months.

Digital Realty is a real estate investment trust based in San Francisco.

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