...+ Equinix announced plans to issue $900 million in equity, improving pro-forma net debt to EBITDA by about 0.4x to 4.0x (about 4.4x on an S&P Global Ratings' lease-adjusted basis) on a fourth-quarter 2018 annualized basis. + We believe this demonstrates management's commitment to fund expansion in a disciplined and balanced manner. + On Feb. 26, 2019, S&P Global Ratings raised all ratings one notch, including the issuer credit rating, to '###-' to reflect increased confidence that leverage will improve to levels appropriate for the higher rating in 2019, including lease-adjusted leverage between 3.75x-4.25x, and be maintained there over time. + The stable outlook reflects continued positive momentum in the business that should enable gradual deleveraging through earnings growth of 8%-10% per year through 2020 although capital expenditures, acquisitions, and required REIT distributions likely limit rating upside over the next two years....
