...- Boston, Mass.-based data storage and services business Iron Mountain Inc. (IRM) has increased revenue and EBITDA at a double-digit percent rate in 2022, and recently announced plans to materially increase its growth investments through 2026. - We expect the incremental expenses associated with the plan will keep leverage elevated at about 6x over the next two years; however, we also expect the investment, primarily earmarked for pre-leased data center buildout and shifting to an enterprise sales platform, will drive double-digit percent revenue and EBITDA growth for IRM over the same period. - We affirmed our ratings on IRM, including its '##-' issuer credit rating and maintained our stable outlook on the rating. - The stable outlook reflects our view that the business can support modest incremental leverage above 6x for the current rating if it continues to grow at a double-digit percent rate across its global records management, data storage, and asset lifecycle management businesses,...
