NEW YORK (Standard&Poor's) April 9, 2003--Standard&Poor's Ratings Services said today that it assigned its 'B' rating to Iron Mountain Inc.'s proposed $250 million senior subordinated notes due 2015, a rule 415 shelf drawdown. Net proceeds will be used to finance a cash tender offer and consent solicitation for all of the company's 8.75% senior subordinated notes due 2009 with an aggregate principal amount of about $220 million. At the same time, Standard&Poor's affirmed its 'BB-' corporate credit rating on the company. Outlook is stable. Boston, Mass.-based records management company Iron Mountain has total debt outstanding of about $1.7 billion as of Dec. 31, 2002. Operating performance is relatively recession-resistant due to low customer attrition,
