Fitch rates Digital Realty preferreds BB+

Fitch Ratings said it assigned a credit rating of BB+ to the $250 million of 7% series E cumulative redeemable preferred stock issued by Digital Realty Trust, Inc.

Net proceeds from the offering before the exercise of the underwriters' over-allotment option are expected to be contributed to the company's operating partnership, Digital Realty Trust, LP, which will subsequently use the proceeds to repay borrowings under the company's revolving credit facility, to acquire additional properties, to fund development and redevelopment properties and for general corporate purposes, the agency added.

Fitch said that it currently rates the company with an issuer default rating of BBB.

The outlook is stable.

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