Fitch downgrades TierPoint

Fitch Ratings said it downgraded TierPoint, LLC’s rating to B- from B, cut the company’s senior secured rating to B from B+ and lowered the senior secured second-lien rating to CCC from CCC+.

Fitch said the company has high leverage and increasing tighter liquidity.

“Fitch believes these factors could limit its ability to grow consistently over time, although growing demand for data center services provides a positive market backdrop,” the agency said in a press release.

The outlook is negative.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.