logo
  • Arabic
  • Chinese
  • Hebrew
  • Spanish
  • Portuguese
  • Russian
  • Japan
  • *BRC Ratings – S&P Global
  • India-CRISIL
  • Taiwan Ratings
  • *S&P National Ratings Brazil
  • *S&P National Ratings Mexico
  • *S&P National Ratings Argentina
  • *S&P National Ratings Uruguay
  • Login
  • Reset Password
  • Register
  • Logout
  • Personal Info
  • Interests
  • Newsletters
  • Reset Password

  • Product Login

  • S&P Capital IQ Pro
  • Ratings360®





S&P Global Offerings


market-intelligence

Market Intelligence

ratings

Ratings

energy

Energy

dow-jones-indices

S&P Dow Jones Indices

mobility

Mobility

Featured Topics


Sustainability
Private Markets
Energy Transition
Credit & Risk
Fixed Income
Supply Chain
Technology & AI

Featured Products


capital-iq-pro

S&P Capital IQ Pro

energy-core

S&P Global Energy Core

esg-scores

S&P Global ESG Scores

autocreditinsight

AutoCreditInsight

ratings360

Ratings360

spice

SPICE: The Index Source for ESG Data

Events


Featured S&P Global Events
Webinar Replays
CERAWeek
S&P Global Market Intelligence
S&P Global Ratings
S&P Dow Jones Indices
S&P Global Mobility
S&P Global Energy

Careers


Overview
Our Culture
Our Commitment
Our Work
Search for a Job
  • S&P Global Home
  • Market Intelligence
  • Ratings
  • Energy
  • S&P Dow Jones Indices
  • Mobility

S&P Global Offerings

market-intelligence

Market Intelligence

ratings

Ratings

energy

Energy

dow-jones-indices

S&P Dow Jones Indices

mobility

Mobility

Featured Topics

Sustainability
Private Markets
Energy Transition
Credit & Risk
Fixed Income
Supply Chain
Technology & AI

Featured Products

capital-iq-pro

S&P Capital IQ Pro

energy-core

S&P Global Energy Core

esg-scores

S&P Global ESG Scores

autocreditinsight

AutoCreditInsight

ratings360

Ratings360

spice

SPICE: The Index Source for ESG Data

Events

Featured S&P Global Events
Webinar Replays
CERAWeek
S&P Global Market Intelligence
S&P Global Ratings
S&P Dow Jones Indices
S&P Global Mobility
S&P Global Energy

Careers

Overview
Our Culture
Our Commitment
Our Work
Search for a Job
logo
Support Login





    S&P Global Offerings


    market-intelligence

    Market Intelligence

    ratings

    Ratings

    energy

    Energy

    dow-jones-indices

    S&P Dow Jones Indices

    mobility

    Mobility

    Featured Topics


    Sustainability
    Private Markets
    Energy Transition
    Credit & Risk
    Fixed Income
    Supply Chain
    Technology & AI

    Featured Products


    capital-iq-pro

    S&P Capital IQ Pro

    energy-core

    S&P Global Energy Core

    esg-scores

    S&P Global ESG Scores

    autocreditinsight

    AutoCreditInsight

    ratings360

    Ratings360

    spice

    SPICE: The Index Source for ESG Data

    Events


    Featured S&P Global Events
    Webinar Replays
    CERAWeek
    S&P Global Market Intelligence
    S&P Global Ratings
    S&P Dow Jones Indices
    S&P Global Mobility
    S&P Global Energy

    Careers


    Overview
    Our Culture
    Our Commitment
    Our Work
    Search for a Job
    • S&P Global Home
    • Market Intelligence
    • Ratings
    • Energy
    • S&P Dow Jones Indices
    • Mobility

    S&P Global Offerings

    market-intelligence

    Market Intelligence

    ratings

    Ratings

    energy

    Energy

    dow-jones-indices

    S&P Dow Jones Indices

    mobility

    Mobility

    Featured Topics

    Sustainability
    Private Markets
    Energy Transition
    Credit & Risk
    Fixed Income
    Supply Chain
    Technology & AI

    Featured Products

    capital-iq-pro

    S&P Capital IQ Pro

    energy-core

    S&P Global Energy Core

    esg-scores

    S&P Global ESG Scores

    autocreditinsight

    AutoCreditInsight

    ratings360

    Ratings360

    spice

    SPICE: The Index Source for ESG Data

    Events

    Featured S&P Global Events
    Webinar Replays
    CERAWeek
    S&P Global Market Intelligence
    S&P Global Ratings
    S&P Dow Jones Indices
    S&P Global Mobility
    S&P Global Energy

    Careers

    Overview
    Our Culture
    Our Commitment
    Our Work
    Search for a Job

    Language

    • Arabic
    • Chinese
    • Hebrew
    • Spanish
    • Portuguese
    • Russian
    • Japan
    • *BRC Ratings – S&P Global
    • India-CRISIL
    • Taiwan Ratings
    • *S&P National Ratings Brazil
    • *S&P National Ratings Mexico
    • *S&P National Ratings Argentina
    • *S&P National Ratings Uruguay

    • Login
    • Reset Password
    • Register
    • Logout
    • Personal Info
    • Interests
    • Newsletters
    • Reset Password

    • Product Login

    • S&P Capital IQ Pro
    • Ratings360®
    • Ratings
    Need a Rating?


    • All Products

    I Need A Solution For

    See All Products
    See All Products

    Ratings
    Assessments
    Sustainable Finance
    Fund Ratings
    Decentralized Finance
    Private Markets

    Product Login


    S&P Capital IQ Pro
    Ratings360®

    • All Products

    I Need A Solution For

    See All Products
    See All Products
    Ratings
    Assessments
    Sustainable Finance
    Fund Ratings
    Decentralized Finance
    Private Markets

    Product Login

    S&P Capital IQ Pro
    Ratings360®

    • Latest Research


    • Sovereign Risk Indicators
    • Podcasts & Videos
    • Newsletters

    Featured

    See All Topics
    See All Topics

    Global Credit Outlook 2026
    Digital Infrastructure

    Emerging and Established Risks

    See All Credit Research & Insights
    See All Credit Research & Insights

    Credit Market Research
    Credit Conditions
    Economic Research
    What We're Watching: Key Themes 2025
    Emerging Markets
    Sustainability Insights
    Private Markets
    Climate Finance in Lower-Income Countries

    Sectors


    Corporates
    Financial Institutions
    Fund Ratings
    Governments
    Infrastructure
    Insurance
    Project Finance
    Structured Finance
    U.S. Public Finance



    • Latest Research
    • Sovereign Risk Indicators
    • Podcasts & Videos
    • Newsletters

    Featured

    See All Topics
    See All Topics
    Global Credit Outlook 2026
    Digital Infrastructure

    Emerging and Established Risks

    See All Credit Research & Insights
    See All Credit Research & Insights
    Credit Market Research
    Credit Conditions
    Economic Research
    What We're Watching: Key Themes 2025
    Emerging Markets
    Sustainability Insights
    Private Markets
    Climate Finance in Lower-Income Countries

    Sectors

    Corporates
    Financial Institutions
    Fund Ratings
    Governments
    Infrastructure
    Insurance
    Project Finance
    Structured Finance
    U.S. Public Finance



    • Request for Comment
    • Find A Rating

    Published Reports


    Ratings Actions
    Presale Reports
    Press Releases
    Annual Reviews

    About Credit Ratings


    Understanding Credit Ratings
    How We Rate Emerging & Frontier Markets
    Credit Rating History
    Ratings Definitions

    Criteria & Models


    Ratings Criteria & Models
    Significant Criteria & Model Errors


    • Request for Comment
    • Find A Rating

    Published Reports

    Ratings Actions
    Presale Reports
    Press Releases
    Annual Reviews

    About Credit Ratings

    Understanding Credit Ratings
    How We Rate Emerging & Frontier Markets
    Credit Rating History
    Ratings Definitions

    Criteria & Models

    Ratings Criteria & Models
    Significant Criteria & Model Errors

    • See All Events

    Featured Events


    Global Credit Outlook 2026

    Global Credit Outlook 2026

    2026 Sustainable Finance Americas Forum

    2026 Sustainable Finance Americas Forum

    Featured


    alt

    New Event*

    alt

    New Event*

    • See All Events

    Featured Events

    Global Credit Outlook 2026

    Global Credit Outlook 2026

    2026 Sustainable Finance Americas Forum

    2026 Sustainable Finance Americas Forum

    Featured

    alt

    New Event*

    alt

    New Event*


    Regulatory


    Disclosures
    Form NRSRO
    Policies & Code of Conduct
    Significant Criteria & Model Errors
    Credit Rating History
    SEC Rule 17g-7 Reports
    Ratings Definitions
    Ratings Criteria & Models

    Regulatory

    Disclosures
    Form NRSRO
    Policies & Code of Conduct
    Significant Criteria & Model Errors
    Credit Rating History
    SEC Rule 17g-7 Reports
    Ratings Definitions
    Ratings Criteria & Models
    S&P Global / Ratings


    • All Products

    I Need A Solution For

    See All Products
    See All Products

    Ratings
    Assessments
    Sustainable Finance
    Fund Ratings
    Decentralized Finance
    Private Markets

    Product Login


    S&P Capital IQ Pro
    Ratings360®

    • All Products

    I Need A Solution For

    See All Products
    See All Products
    Ratings
    Assessments
    Sustainable Finance
    Fund Ratings
    Decentralized Finance
    Private Markets

    Product Login

    S&P Capital IQ Pro
    Ratings360®

    • Latest Research


    • Sovereign Risk Indicators
    • Podcasts & Videos
    • Newsletters

    Featured

    See All Topics
    See All Topics

    Global Credit Outlook 2026
    Digital Infrastructure

    Emerging and Established Risks

    See All Credit Research & Insights
    See All Credit Research & Insights

    Credit Market Research
    Credit Conditions
    Economic Research
    What We're Watching: Key Themes 2025
    Emerging Markets
    Sustainability Insights
    Private Markets
    Climate Finance in Lower-Income Countries

    Sectors


    Corporates
    Financial Institutions
    Fund Ratings
    Governments
    Infrastructure
    Insurance
    Project Finance
    Structured Finance
    U.S. Public Finance



    • Latest Research
    • Sovereign Risk Indicators
    • Podcasts & Videos
    • Newsletters

    Featured

    See All Topics
    See All Topics
    Global Credit Outlook 2026
    Digital Infrastructure

    Emerging and Established Risks

    See All Credit Research & Insights
    See All Credit Research & Insights
    Credit Market Research
    Credit Conditions
    Economic Research
    What We're Watching: Key Themes 2025
    Emerging Markets
    Sustainability Insights
    Private Markets
    Climate Finance in Lower-Income Countries

    Sectors

    Corporates
    Financial Institutions
    Fund Ratings
    Governments
    Infrastructure
    Insurance
    Project Finance
    Structured Finance
    U.S. Public Finance



    • Request for Comment
    • Find A Rating

    Published Reports


    Ratings Actions
    Presale Reports
    Press Releases
    Annual Reviews

    About Credit Ratings


    Understanding Credit Ratings
    How We Rate Emerging & Frontier Markets
    Credit Rating History
    Ratings Definitions

    Criteria & Models


    Ratings Criteria & Models
    Significant Criteria & Model Errors


    • Request for Comment
    • Find A Rating

    Published Reports

    Ratings Actions
    Presale Reports
    Press Releases
    Annual Reviews

    About Credit Ratings

    Understanding Credit Ratings
    How We Rate Emerging & Frontier Markets
    Credit Rating History
    Ratings Definitions

    Criteria & Models

    Ratings Criteria & Models
    Significant Criteria & Model Errors

    • See All Events

    Featured Events


    Global Credit Outlook 2026

    Global Credit Outlook 2026

    2026 Sustainable Finance Americas Forum

    2026 Sustainable Finance Americas Forum

    Featured


    alt

    New Event*

    alt

    New Event*

    • See All Events

    Featured Events

    Global Credit Outlook 2026

    Global Credit Outlook 2026

    2026 Sustainable Finance Americas Forum

    2026 Sustainable Finance Americas Forum

    Featured

    alt

    New Event*

    alt

    New Event*


    Regulatory


    Disclosures
    Form NRSRO
    Policies & Code of Conduct
    Significant Criteria & Model Errors
    Credit Rating History
    SEC Rule 17g-7 Reports
    Ratings Definitions
    Ratings Criteria & Models

    Regulatory

    Disclosures
    Form NRSRO
    Policies & Code of Conduct
    Significant Criteria & Model Errors
    Credit Rating History
    SEC Rule 17g-7 Reports
    Ratings Definitions
    Ratings Criteria & Models
    Ratings
    Need a Rating?
    Need a Rating?

    • / Ratings
    • / Research
    • / Digital Infrastructure
    • Research
    Digital Infrastructure credit research

    Digital Infrastructure

    Data centers are the backbone of digital infrastructure. 

    ON THIS PAGE

    • Insights
    • FAQs
    • Criteria
    • Ratings Actions
    Contact Us
    Contact Us

    Innovations in the digital economy are sparking a significant surge in demand for and financing of data centers.

    Every online save, search, and AI query requires a server and data storage. As the technological revolution advances, the resulting growth in the facilities that house this infrastructure is likely to reshape entire sectors.  

    At S&P Global Ratings, our subject matter specialists are closely analyzing the implications of data center growth on key related industries, its potential to influence credit quality, and the limitations and risks that could shape the future of the tech sector's AI and cloud ambitions. 
     
    Explore our coverage and criteria to understand the credit implications of the data center boom.

    Beignet Investor LLC’s $27.3 Billion Senior Secured Debt Assigned Preliminary ‘A+’ Rating; Outlook Stable

    Blue Owl Capital Inc. (Blue Owl; BBB/Stable), through its affiliated funds, created a project finance-style holding company Beignet Investor LLC (HoldCo or Issuer) to invest in an 80% interest in a joint venture (JV) with Meta Platforms Inc. (Meta; AA-/Stable).
    Read More

    How We Rate Data Centers Across Public And Private Markets

    Innovations across the digital economy are sparking a significant surge in demand for data centers—and private credit is emerging as a key player in financing these projects.
    • Private credit is emerging as a key funding source for data center transactions.
    • Our rating approach is determined by the transaction's characteristics, relying on our criteria for corporate finance, project finance, and structured finance.
    Learn More

    Understanding Our 'A+' Rating on the Large-Scale Data Center Project Financing

    S&P Global Ratings leading project finance analysts hosted a live interactive webinar on the recent $27.3 billion debt issuance by Beignet Investor LLC to finance its partnership with Meta Platform Inc. for construction and operation of a massive 2.064-GW data center campus in Louisiana. 
    Watch Replay

    Credit FAQs


    Criteria


    Ratings Actions

    Contact Us

    Learn more about Digital Infrastructure

    Please fill out the form so we can connect you to the right person.

    • Follow Us


    • About S&P Global Ratings
    • Media Center
    • CRISIL
    • Contact Us

    • Our Values
    • Our History
    • Ventures
    • Press Center
    • Investor Relations
    • News Releases
    • Quarterly Earnings
    • SEC Filings & Reports
    • Contact Customer Care & Sales
    • Support by Division
    • Report an Ethics Concern
    • Office Locations
    • Careers
    • Corporate Responsibility
    • Leadership
    • IOSCO ESG Rating & Data Product Statements

    • Legal Disclaimers
    • Terms of Use
    • Cookie Notice
    • Privacy Policy
    • Client Privacy Portal
    • Do Not Sell or Share My Personal Information
    • © 2025 S&P Global