S&P Global Ratings affirmed the BBB long-term corporate credit rating on Digital Realty Trust Inc., following the company's decision to merge with DuPont Fabros Technology Inc. in a $7.6 billion all-stock transaction.
The outlook on the rating is positive.
The affirmation reflects S&P's view that the addition of 12 in-service, highly leased and complementary data centers in top U.S. metro areas, subsequent to the merger will further supplement Digital Realty's market position.
Meanwhile, the positive outlook indicates the rating agency's expectation from the company to maintain a "prudent" financial policy, largely funded with internally generated cash flow and equity issuance, as its continues to grow its asset base.
S&P Global Ratings and S&P Global Market Intelligence are owned by S&P Global Inc.