U.S.-based Iron Mountain Inc. is planning to issue $750 million senior unsecured notes due 2027. It intends to use the proceeds from the notes offering along with borrowings under its revolving credit facility to fund the redemption of its 6.0% senior notes due 2020. Furthermore, the company recently amended and restated its senior secured first-lien credit facility and repaid its 6.125% C$200 million senior unsecured notes due 2021. We are affirming our 'BB-' corporate credit rating on Iron Mountain. We are also assigning our 'BB-' issue level and '3' recovery ratings to the company's proposed senior unsecured notes, and our 'BB' issue-level and '2' recovery ratings to the new senior secured first-lien credit facility due 2022. We are also withdrawing
