CyrusOne Receives Second Investment Grade Credit Rating and Becomes Investment Grade Index Eligible
October 09 2019 - 4:08PM
Business Wire
Fitch Ratings Assigns ‘BBB-’ First-Time Long-Term Issuer Default
and Senior Unsecured Ratings
CyrusOne Inc. (NASDAQ: CONE), a premier global data center REIT,
today announced that Fitch Ratings (“Fitch”) has assigned
investment grade credit ratings to CyrusOne, initiating with
first-time long-term issuer default and senior unsecured ratings of
‘BBB-’. S&P Global Ratings had previously upgraded its
issue-level credit ratings to investment grade (‘BBB-’) in
September 2018, and with the second investment grade rating
CyrusOne is now investment grade index eligible, improving the
Company’s access to capital at attractive interest rates.
“We are thrilled to have received a second investment grade
credit rating as becoming an investment grade issuer has been a
long-standing objective for the company,” said Gary Wojtaszek,
president and chief executive officer of CyrusOne. “There is
tremendous strategic value in always having access to capital,
which is particularly important to our hyperscale customers as they
are growing at very high rates and need partners that can grow with
them. Our customers are also trusting us to manage their
mission-critical assets and expect their data center providers to
have a strong credit profile as financial risk is just as important
to them as the quality of the infrastructure.”
“The investment grade credit rating from Fitch reflects the
growth and diversification of our company and the strong
fundamentals underlying our sector,” said Diane Morefield, chief
financial officer of CyrusOne. “Certainty of access to capital at
attractive rates is important to support our continued growth and
international expansion in the coming years, and the improved
pricing on our debt further enhances the profitability of the
business.”
Fitch assigned a stable outlook to the ratings.
Safe Harbor
This press release contains forward-looking statements regarding
anticipated results and future events that are subject to the “safe
harbor” provisions of the Private Securities Litigation Reform Act
of 1995. All statements contained in this press release, other than
statements of historical facts, should be considered
forward-looking statements, including, without limitation,
statements about CyrusOne’s plans, objectives, expectations and
intentions, and any statement of an assumption underlying any of
the foregoing. These statements are based on current expectations,
estimates, forecasts and projections about the industries and
markets in which we and our customers operate and the current
beliefs, opinions and assumptions of our management. Words such as
“expects,” “anticipates,” “predicts,” “projects,” “intends,”
“plans,” “believes,” “seeks,” “estimates,” “continues,”
“endeavors,” “strives,” “may,” “will,” “should,” “could,” or the
negative of these terms or other variations of such words and
similar expressions, are intended to identify such forward-looking
statements. In addition, any statements that refer to projections
of our future financial or operating performance, our anticipated
growth and trends in our and our customers’ industries, businesses
and markets, our future access to capital or other
characterizations of future events or circumstances, are
forward-looking statements. Readers are cautioned that
forward-looking statements are based on management’s current
expectations and assumptions and are subject to numerous factors,
risks and uncertainties which could cause our actual results to
differ materially and adversely from those expressed or implied in
any forward-looking statement. More information on the factors,
risks and uncertainties that could cause or contribute to such
differences is included in our filings with the Securities and
Exchange Commission, including in the “Risk Factors” and
“Management’s Discussion & Analysis” sections of our Annual
Report on Form 10-K and in our subsequent Form 10-Q reports and
other filings with the SEC. Any forward-looking statement made in
this release speaks only as of the date of this release. We
undertake no obligation to update or revise any forward-looking
statement, whether as a result of new information, change in
circumstances, future events or otherwise, except as required by
law.
About CyrusOne
CyrusOne (NASDAQ: CONE) is a high-growth real estate investment
trust (REIT) specializing in highly reliable enterprise-class,
carrier-neutral data center properties. The Company provides
mission-critical data center facilities that protect and ensure the
continued operation of IT infrastructure for approximately 1,000
customers, including more than 200 Fortune 1000 companies.
With a track record of meeting and surpassing the aggressive
speed-to-market demands of hyperscale cloud providers, as well as
the expanding IT infrastructure requirements of the enterprise,
CyrusOne provides the flexibility, reliability, security, and
connectivity that foster business growth. CyrusOne offers a
tailored, customer service-focused platform and is committed to
full transparency in communication, management, and service
delivery throughout its nearly 50 data centers worldwide.
Additional information about CyrusOne can be found at
www.CyrusOne.com.
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version on businesswire.com: https://www.businesswire.com/news/home/20191009005731/en/
Investor Relations Michael Schafer Vice President,
Capital Markets & Investor Relations 972-350-0060
investorrelations@cyrusone.com
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