...March 31, 2022 NEW YORK (S&P Global Ratings) March 31, 2022--S&P Global Ratings today assigned its '###' 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 capital expenditures, 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 4x-5x over the next two to three years, consistent with our expected range for the current rating, is unchanged. We expect that Equinix will continue to fund its expansion opportunities with a balanced mix of debt and equity. However, it's possible that management will opt to issue more debt over the...
