NEW YORK (Standard&Poor's) Dec. 21, 2001--Standard&Poor's today assigned its preliminary double-'B'-minus senior unsecured and single-'B' subordinated debt ratings to Iron Mountain Inc.'s $500 million Rule 415 shelf registration. If senior secured borrowings increase materially, it could result in notching down of the senior unsecured debt below the corporate credit rating. As a result, the final senior unsecured rating will depend on the capital structure at the time of any drawdown. Ratings will be assigned to any preferred stock issued under the shelf based on the securities' terms and conditions. All existing ratings on the company are affirmed (see list below). The outlook remains stable. The ratings on Iron Mountain reflect the company's leading position as the
