Equinix Inc.'s Proposed Unsecured Notes Rated 'BBB'

NEW YORK (S&P Global Ratings) May 3, 2021--S&P Global Ratings today assigned its 'BBB' issue-level rating to U.S.-based data center service provider Equinix Inc.'s proposed unsecured notes. Our issue-level rating on these notes is 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 assumption that the company's S&P Global Ratings-adjusted debt to EBITDA will be about 4.0x-4.5x in 2021, consistent with our expected range for the

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