NEW YORK (Standard&Poor's) June 2, 2008--Standard&Poor's Ratings Services today assigned an issue and recovery rating to Iron Mountain Inc.'s $300 million subordinated notes due 2020. The debt was assigned an issue-level rating of 'B+' (one notch below the 'BB-' corporate credit rating on Iron Mountain), and a recovery rating of '5', indicating our expectation of modest (10% to 30%) recovery in the event of a payment default. Proceeds of the new subordinated notes will be used to redeem the company's 8.25% senior subordinated notes due 2011, repay borrowing under the revolving credit facility and for general corporate purposes. The issue and recovery ratings on Iron Mountain Inc.'s other secured and unsecured debt remains unchanged. (For the
