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Summary: Digital Realty Trust Inc. May 11
Standard & Poors, May 2011
Standard & Poor's Ratings Services' ratings on Digital Realty Trust Inc. and Digital Realty Trust L.P. (collectively, Digital) acknowledge the company's satisfactory business profile, given its good competitive position as a multimarket datacenter provider, as well as a financial profile that we currently consider intermediate based on moderate leverage, strong debt coverage measures, and management's willingness to date to issue equity to finance leverage-neutral growth. In our view, if tenant demand weakens in the near term, Digital's well-occupied portfolio of long-term leases subject to annual rent increases and a favorable mark-to-market rent profile should cushion the company's operating cash flow. However, we consider the high cost of fully equipped datacenter space to heighten the financial impact to a landlord from...
Companies mentioned in this report are: Digital Realty Trust Inc.,Digital Realty Trust L.P.
Standard and Poors RatingsXpress Credit Research provides in-depth coverage of international corporates, financial institutions, insurance companies, utilities, sovereigns and structured finance programs. RatingsXpress Credit Research lets users determine the credit rating of holdings and identify key factors underlying an issuer's creditworthiness, distinguishes the different risk exposures for new and existing deals, and provides an understanding of how their analysts interpret key regulatory, political and environmental events and their economic impact.
This product consists of a Summary Analysis: Bi-annual (at least). An abbreviated analysis containing Standard & Poor's issuer credit ratings as of the time the article was published. The analysis includes a rating rationale - the basis on which the rating was assigned - and an outlook section if the issuer is not on CreditWatch. Financial statistics are not included.
Digital Realty Trust Inc.,Digital Realty Trust L.P.