...February 24, 2021 NEW YORK (S&P Global Ratings) Feb. 24, 2021--S&P Global Ratings today assigned its '###-' issue-level rating to U.S.-based data center service provider Equinix Inc.'s proposed unsecured notes. We are rating these notes in line with our long-term issuer credit rating on the company because they are pari passu with all of its other debt. Equinix plans to use the proceeds from these notes for a combination of debt repayment and capital expenditure, including to fund eligible green projects that will further strengthen its sustainability initiatives. We view the transaction as credit neutral because our base-case forecast for debt to EBITDA of 3.8x¡4.0x in 2021, which is consistent with our expected range for the current rating, is unchanged. We expect that the company will continue to fund its expansion opportunities with a balanced mix of debt and equity. However, it's possible that management could opt to issue more debt over the next year given the low interest rates and...
