Fitch Ratings Assigns ‘BBB-’ First-Time Long-Term Issuer Default and Senior Unsecured Ratings
DALLAS--(BUSINESS WIRE)--CyrusOne Inc. (NASDAQ: CONE), a premier global data center REIT, today announced that Fitch Ratings (“Fitch”) has assigned investment grade credit ratings to CyrusOne, initiating with first-time long-term issuer default and senior unsecured ratings of ‘BBB-’. S&P Global Ratings had previously upgraded its issue-level credit ratings to investment grade (‘BBB-’) in September 2018, and with the second investment grade rating CyrusOne is now investment grade index eligible, improving the Company’s access to capital at attractive interest rates.
“We are thrilled to have received a second investment grade credit rating as becoming an investment grade issuer has been a long-standing objective for the company,” said Gary Wojtaszek, president and chief executive officer of CyrusOne. “There is tremendous strategic value in always having access to capital, which is particularly important to our hyperscale customers as they are growing at very high rates and need partners that can grow with them. Our customers are also trusting us to manage their mission-critical assets and expect their data center providers to have a strong credit profile as financial risk is just as important to them as the quality of the infrastructure.”
“The investment grade credit rating from Fitch reflects the growth and diversification of our company and the strong fundamentals underlying our sector,” said Diane Morefield, chief financial officer of CyrusOne. “Certainty of access to capital at attractive rates is important to support our continued growth and international expansion in the coming years, and the improved pricing on our debt further enhances the profitability of the business.”
Fitch assigned a stable outlook to the ratings.
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CyrusOne (NASDAQ: CONE) is a high-growth real estate investment trust (REIT) specializing in highly reliable enterprise-class, carrier-neutral data center properties. The Company provides mission-critical data center facilities that protect and ensure the continued operation of IT infrastructure for approximately 1,000 customers, including more than 200 Fortune 1000 companies.
With a track record of meeting and surpassing the aggressive speed-to-market demands of hyperscale cloud providers, as well as the expanding IT infrastructure requirements of the enterprise, CyrusOne provides the flexibility, reliability, security, and connectivity that foster business growth. CyrusOne offers a tailored, customer service-focused platform and is committed to full transparency in communication, management, and service delivery throughout its nearly 50 data centers worldwide. Additional information about CyrusOne can be found at www.CyrusOne.com.
Vice President, Capital Markets & Investor Relations