S&P might lift InterXion, loan, notes

Standard & Poor's said it placed its B+ long-term corporate credit rating on InterXion Holding BV on CreditWatch with positive implications.

At the same, the agency placed its BB issue rating on InterXion's super senior revolving credit facility and B+ issue rating on its senior secured notes on CreditWatch positive.

The CreditWatch placement reflects the possibility that S&P might upgrade InterXion upon completion of its merger with U.K.-based TelecityGroup plc, as currently structured. It also incorporates the agency’s expectation that the combined entity will continue to report robust revenue and EBITDA growth.

S&P bases assumptions on both companies' robust growth in recent years and good track record of strengthening margins, thanks to rising scale, high occupancy rates and relatively high recurring revenues.

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