S&P gives DuPont Fabros preferred stock B-

Standard & Poor's said it assigned a B- issue rating to the $90 million of 7 5/8% series B preferred stock issued by DuPont Fabros Technology Inc.

The company plans to use proceeds from the offering, together with borrowings under its revolving credit facility, to fund the development of the second phase of its CH1 data center in Elk Grove Village, Ill.

The ratings on DuPont Fabros reflect the company's fair business risk profile, moderate tenant concentration, aggressive financial profile, weak fixed-charge coverage and aggressive development appetite, the agency said.

The ratings also consider the company's adequate liquidity, the agency added.

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