Equinix Inc.'s $1.5 Billion Senior Secured Credit Facilities Are Rated 'BBB-' (Recovery Rating: 1)

NEW YORK (Standard&Poor's) Jan. 9, 2015--Standard&Poor's Ratings Services today assigned its 'BBB-' issue-level rating to Equinix Inc.'s $1.5 billion senior secured credit facilities due 2019. The recovery rating is '1' and indicates our expectation for very high (90% to 100%) recovery for secured creditors in the event of a payment default. The credit facility consists of a $500 million term loan due 2019 (fully drawn as of Dec. 31, 2014) and a $1 billion multi-currency revolving credit facility due 2019. Proceeds from the credit facility were used to repay the company's existing secured credit facility in Dec. 2014. In addition, we expect the company to use remaining proceeds for general corporate purposes, including future capital expenditures,

...NEW YORK (Standard & Poor's) Jan. 9, 2015--Standard & Poor's Ratings Services today assigned its '###-' issue-level rating to Equinix Inc.'s $1.5 billion senior secured credit facilities due 2019. The recovery rating is '1' and indicates our expectation for very high (90% to 100%) recovery for secured creditors in the event of a payment default. The credit facility consists of a $500 million term loan due 2019 (fully drawn as of Dec. 31, 2014) and a $1 billion multi-currency revolving credit facility due 2019. Proceeds from the credit facility were used to repay the company's existing secured credit facility in Dec. 2014. In addition, we expect the company to use remaining proceeds for general corporate purposes, including future capital expenditures, distributions to stockholders, working capital, potential acquisitions and strategic transactions. The '##' corporate credit rating and stable outlook are not affected. Redwood City, Calif.¡based Equinix is a data center operator providing...

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