Fitch rates Digital Realty notes, loans, preferreds

Fitch Ratings said it assigned a BBB rating to the senior unsecured notes due 2028 issued by Digital Realty Trust, LP, the operating partnership of Digital Realty Trust, Inc.

The agency also assigned Digital Realty Trust, LP a BBB issuer default rating and BBB ratings to its senior unsecured revolving credit facility and term loans.

In addition, Fitch assigned Digital Realty Trust, Inc. a BBB issuer default rating and a BB+ rating to its preferred stock.

The outlook is stable.

Fitch said Digital Realty’s credit strengths include a global platform, granular tenant base, good access to multiple forms of capital, strong liquidity, conservative capital raising strategy and a deep management bench.

These credit positives are balanced by the niche asset class resulting in a less liquid investment market and more limited leveragability relative to other commercial property asset classes, the agency noted.

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