...CHICAGO (Standard & Poor's) June 30, 2015--Standard & Poor's Ratings Services today assigned its '##' issue-level rating and '1' recovery rating to Boston-based Iron Mountain Inc.'s senior secured credit facility, which consists of a $1.5 billion revolver and $250 million term loan A, following an announced debt refinancing. The '1' recovery rating indicates our expectation for very high recovery (90%-100%) of principal for debtholders in the event of a default. The issue-level rating on the debt is two notches higher than our 'B+' corporate credit rating on the company. At the same time, we revised our recovery rating on the company's senior unsecured debt to '3' from '4'. The issue-level rating is unchanged at 'B+'. The '3' recovery indicates our expectation for meaningful recovery (50%-70%; upper half of the range) of principal in the event of a default. Iron Mountain plans to close on its announced senior secured credit facility refinancing on July 6, 2015. It plans to extend the maturity...
