S&P Global Ratings affirmed its corporate credit rating on data center-focused real estate investment trust CyrusOne Inc. at BB and revised the outlook to positive from stable.
The rating agency also assigned its issue-level ratings on the company's senior unsecured credit facility and senior unsecured notes at BB+. S&P also removed the ratings from Under Criteria Observation.
The outlook revision is based on expectations that positive demand for data center space will energize revenue growth, and credit metrics could enhance in the next 12 to 18 months as the company finances its growth with a combination of funds from operations, equity and debt, such that leverage metrics comply with its fiscal policy.
This S&P Global Market Intelligence news article may contain information about credit ratings issued by S&P Global Ratings, a separately managed division of S&P Global. Descriptions in this news article were not prepared by S&P Global Ratings. The original S&P Global Ratings documents referred to in this news brief can be found here.
