Moody’s and S&P Reaffirm DataBank’s Corporate Family Rating
Dallas, TX – August 30, 2018 – DataBank Ltd., a leading provider of business solutions for data center, cloud, connectivity, and managed services, today announced the placement of an additional $25 million upsize to its existing senior secured first-lien Term Loan B. The incremental Term Loan increases the total size of DataBank’s credit facility to $435 million. Both Moody’s and S&P Global Ratings announced no change to their Corporate Family Rating (CFR) and stable outlook for DataBank as a result of the incremental placement in their reports released August 14, 2018. DataBank plans to use the additional financing to further its data center development activities, pay down borrowings under its revolving credit facility, which strengthens liquidity and its overall credit position.
In addition, the Moody’s report “reflects Moody’s view that DataBank will continue to produce strong revenue and EBITDA growth while aggressively growing the business.”
“We are appreciative of the support from our lender group in allowing us to increase the size of our credit facility,” states Kevin Ooley, President and CFO of DataBank. “We look forward to continuing to invest in building out our data center capacity to meet the demand from new and existing customers.”
SunTrust Robinson Humphrey acted as administrative agent and lead arranger.
Operating 15 purpose-built data centers in 8 markets, DataBank offers a full suite of infrastructure solutions including colocation, compliant cloud hosting, security, and network services. To learn more about DataBank, please visit www.databank.com. Follow DataBank on Twitter and LinkedIn.
# # #
Recognized by Deloitte as one of the fastest-growing private U.S. companies in 2023, DataBank helps the world’s largest enterprises, technology, and content providers ensure their data and applications are always on, always secure, always compliant, and ready to scale to meet the needs of the artificial intelligence era.
Our edge colocation and infrastructure footprint consists of 65+ “HPC-ready” data centers in 27+ markets, 20 interconnection hubs, and on-ramps to an ecosystem of cloud providers with virtually unlimited reach.
We combine these platforms with contract portability, managed security, compliance enablement, hands-on support, and a guarantee of 100% uptime availability, to give our customers absolute confidence in their IT infrastructure and the power to create a boundless digital future for their business.
Discover the DataBank Difference today:
Hybrid infrastructure solutions with boundless edge reach and a human touch.