On Dec. 17, 2002, Standard&Poor's Ratings Services assigned its 'B' rating to Iron Mountain Inc.'s proposed $100 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 9.125% senior subordinated notes due 2007 with an aggregate principal amount of about $75 million. Standard&Poor's also affirmed its 'BB-' corporate credit rating on the company. The outlook is stable. Boston, Mass.-based Iron Mountain had total debt outstanding of about $1.6 billion on Sept. 30, 2002. The ratings reflect Iron Mountain's leading position as the world's largest records management company, its reliable internal growth generated from existing customers, its
