S&P and Fitch Upgrade Equinix to BBB on Strength of Interconnection and Improved Credit Quality
Equinix, Inc., the world’s digital infrastructure company, announced that both Standard & Poor’s (S&P) and Fitch Ratings (Fitch) have upgraded all of Equinix’s credit ratings to BBB, from the previous rating of BBB-. The ratings outlook for both agencies is Stable. The upgraded S&P ratings are effective as of April 28, 2021, and the upgraded Fitch ratings are effective as of April 30, 2021. S&P previously upgraded Equinix’s rating to BBB- in February 2019, marking our entrance as an investment-grade company. Fitch previously upgraded Equinix’s ratings to BBB- in July 2019, and subsequently revised its rating outlook to “Positive” in June 2020.
The ratings upgrades from both agencies reflect Equinix’s growing portfolio of owned assets, increasing global scale supported by its unique interconnection platform, a disciplined financial policy utilizing broad access to capital, and resilience through the COVID-19 pandemic. Equinix’s highly stable recurring revenue and favorable industry tailwinds continue to provide additional positive ratings factors.
“We are extremely pleased to receive these upgrades to our investment-grade ratings along with increased operating flexibility in leverage tolerance,” said Keith Taylor, Chief Financial Officer, Equinix. “This is another clear recognition of our efforts to continue to improve our leverage and liquidity position while continuing to invest in meaningful growth opportunities across the business.”
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