Fitch rates Digital Realty notes BBB

Fitch Ratings said it assigned a BBB rating to the euro-denominated senior unsecured notes due 2022, 2025 and 2030 expected to be issued by Digital Dutch Finco BV, a wholly owned indirect finance subsidiary of Digital Realty Trust, LP. The notes are fully and unconditionally guaranteed by Digital Realty Trust, Inc. and Digital Realty Trust, LP.

Digital’s credit strengths include a global platform, granular tenant base, good access to multiple forms of capital, strong liquidity, conservative capital-raising strategy and cycle-tested management. These credit positives are balanced by the specialty nature its portfolio assets. Data centers generally have shorter operating histories and cater to less diverse and fungible demand sources than traditional commercial real estate property types, resulting in weaker relative institutional investor and lender demand.

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