Digital Realty Trust, Inc. Receives a Baa2 Issuer Rating From Moody's Investors Service
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Digital Realty Trust, Inc. Receives a Baa2 Issuer Rating From Moody's
Investors Service
SAN FRANCISCO, Oct. 29 /PRNewswire-FirstCall/ -- Digital Realty Trust, Inc.
(NYSE: DLR), the leading owner and manager of corporate and Internet gateway
datacenter facilities, today announced that the Company was assigned a Baa2
issuer rating by Moody's Investors Service.
According to the Moody's press release, the Baa2 issuer rating reflects
Digital Realty Trust's well-leased portfolio with consistently high occupancy
in the mid-90% range (excluding space held for redevelopment), laddered lease
rollover, and solid historical same-store NOI growth. In addition, the rating
agency stated that the stable rating outlook was based on Digital's good
franchise, steady historical earnings and sound capital structure, as well as
its solid management team. It also reflects Moody's expectation that Digital
Realty will maintain its profitability in the near-to-medium term, and that
its debt protection measures will at least remain at current levels.
A. William Stein, CFO and Chief Investment Officer, commented, "As we await
ratings from the other agencies, this Baa2 rating from Moody's is an important
first step for Digital Realty Trust towards accessing the investment grade
unsecured debt market, an important component of our future funding strategy
that we believe will further differentiate us from our competitors."
More information regarding Digital Realty Trust's rating assignment can be
found in the Moody's Investors Service press release dated October 29, 2009 on
its website at www.moodys.com.
About Digital Realty Trust, Inc.
Digital Realty Trust, Inc. owns, acquires, redevelops, develops and manages
technology-related real estate. The Company is focused on providing Turn-Key
DatacenterĀ® and Powered Base BuildingĀ® datacenter solutions for domestic and
international tenants across a variety of industry verticals ranging from
information technology and Internet enterprises, to manufacturing and
financial services. Digital Realty Trust's 78 properties, excluding one
property held as an investment in an unconsolidated joint venture, contain
applications and operations critical to the day-to-day operations of
technology industry tenants and corporate enterprise datacenter tenants.
Comprising approximately 13.8 million rentable square feet as of September 30,
2009, including 1.9 million square feet of space held for redevelopment,
Digital Realty Trust's portfolio is located in 27 markets throughout North
America and Europe. For additional information, please visit Digital Realty
Trust's website at http://www.digitalrealtytrust.com.
Safe Harbor Statement
This press release contains forward-looking statements which are based on
current expectations, forecasts and assumptions that involve risks and
uncertainties that could cause actual outcomes and results to differ
materially. Such forward looking statements include statements related to the
Company's occupancy and tenant rollover rates, lease expirations at the
Company's properties, the ability of the Company to maintain its profitability
and maintenance of the Company's debt protection measures. These risks and
uncertainties include the impact of the current deterioration in global
economic and market conditions; adverse economic or real estate developments
in our markets or the industry sectors that we sell to; decreases in
information technology spending; our dependence upon significant tenants;
bankruptcy or insolvency of a major tenant or a significant number of smaller
tenants; downturn of local economic conditions in our geographic markets; our
inability to comply with the rules and regulations applicable to public
companies or to manage our growth effectively; difficulty acquiring or
operating properties in foreign jurisdictions; defaults on or non-renewal of
leases by tenants; increased interest rates and operating costs; our failure
to obtain necessary outside financing; restrictions on our ability to engage
in certain business activities; risks related to joint venture investments;
decreased rental rates or increased vacancy rates; inability to successfully
develop and lease new properties and space held for redevelopment;
difficulties in identifying properties to acquire and completing acquisitions;
increased competition or available supply of data center space; our failure to
successfully operate acquired properties; our inability to acquire off-market
properties; delays or unexpected costs in development or redevelopment of
properties; our failure to maintain our status as a REIT; possible adverse
changes to tax laws; environmental uncertainties and risks related to natural
disasters; financial market fluctuations; changes in foreign currency exchange
rates; changes in foreign laws and regulations, including those related to
taxation and real estate ownership and operation; and changes in real estate
and zoning laws and increases in real property tax rates. For a further list
and description of such risks and uncertainties, see the reports and other
filings by the Company with the United States Securities and Exchange
Commission, including the Company's annual report on Form 10-K for the year
ended December 31, 2008 and subsequent reports on Form 10-Q and Form 8-K. The
Company disclaims any intention or obligation to update or revise any
forward-looking statements, whether as a result of new information, future
events or otherwise.
For Additional Information:
A. William Stein Pamela Matthews
Chief Financial Officer and Director of Investor Relations
Chief Investment Officer Digital Realty Trust, Inc.
Digital Realty Trust, Inc. +1 (415) 738-6532
+1 (415) 738-6520
SOURCE Digital Realty Trust, Inc.
A. William Stein, Chief Financial Officer and Chief Investment Officer,
+1-415-738-6520, or Pamela Matthews, Director of Investor Relations,
+1-415-738-6532, both of Digital Realty Trust, Inc.
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