Equinix Inc. #BB+# Rating Outlook New Senior Unsecured Debt Rated #BB+# (Recovery Rating: 3)

Stocks and Financial Services Press Releases Wednesday March 8, 2017 09:19
NEW YORK--8 Mar--S&P Global Ratings

NEW YORK (S&P Global Ratings) March 7, 2017--S&P Global Ratings today said itaffirmed all ratings on Redwood City, Calif.-based Equinix Inc., including the'BB+' corporate credit rating. The outlook is stable.

At the same time, we assigned our 'BB+' issue-level rating and '3' recoveryrating to the company's proposed $1.125 billion unsecured notes with ananticipated maturity of 10 years. The '3' recovery rating indicates ourexpectation for meaningful recovery (50%-70%; 60% rounded estimate) in apayment default scenario.

"The rating affirmation follows the company's announcement that it will use abalanced mix of debt and equity to fund the $3.6 billion acquisition of 29data centers from Verizon, resulting in S&P-adjusted debt to EBITDA remainingconsistent with our expectations for the rating in the mid-4x area in 2017 (up

from 4.1x last quarter annualized)," said S&P Global Ratings credit analystChris Mooney.

The stable outlook reflects our expectation that debt to EBITDA will remain inthe mid-4x area in 2017, improving to the low-4x area in 2018 as higher debtto fund capital investments, acquisitions, and dividend distributions largelyoffset earnings growth.

Latest Press Release

ชวนผู้ประกอบการเรียนรู้เส้นทางความสำเร็จของสตาร์ทอัพแอปพลิเคชัน เคลมดิ อังคาร 25 ก.ย. นี้

ตลาดหลักทรัพย์ฯ ขอเชิญผู้ประกอบการ Social Enterprise (SE) SMEs และ Startup ร่วมอบรมครั้งพิเศษในโครงการ SET Social Impact Gym หัวข้อ "Fintech vs Social Startup... Lesson Learned..." พบกับสตาร์ทอัพเจ้าของแอปพลิเคชัน "เคลมดิ" (Claim Di)...

3650 REIT and Silverfern To Collaborate on US CRE Private Debt

3650 REIT ("3650 REIT") and The Silverfern Group ("Silverfern") today announced a collaboration for bridge and event-driven lending secured by U.S. commercial real estate ("CRE") to be marketed as the Silver3TG Investment Program...

KTC packs a punch with worldwide online shopping opportunities with cash backs and up to X12 rewards points.

Mr. Nattasit Soontranu, Vice President - Credit Card Business, "KTC" or Krungthai Card Public Company Limited,states, "In the first half of the year, KTC achieved a decent level of online purchases made using KTC credit cards—a level that is also...

Political risks in Asia are on the rise

According to Coface's Political Risk Index, Asia scored 45% on the latest risk ranking, above the world average of 35%. Nevertheless, this score remains lower than those of Sub Saharan Africa, the Middle East & North Africa, Central Europe and Latin...

Greece#s exit from the international bailout programme

- Reforms have helped to clean up public accounts, restore Greece's credibility and strengthen confidence - The crisis has resulted in companies cleaning up their balance sheets - "Zombie" companies continue to survive, due to insufficiencies in the...

Related Topics