Fitch lifts Global Switch

Fitch Ratings said it has upgraded Global Switch Holdings Ltd.'s long-term issuer default rating and senior unsecured rating to BBB+ from BBB, while its wholly owned subsidiary Global Switch Property (Australia) Pty Ltd.'s senior unsecured rating has also been upgraded to BBB+ from BBB.

The outlook on the long-term issuer default rating is stable.

Fitch noted that the short-term issuer default rating has also been upgraded to F2 from F3.

According to the agency, the upgrade reflects Global Switch's increasingly mature business profile, improved access to debt capital markets, increased support from its banks to provide liquidity facilities and a proven track record in maintaining leverage metrics comfortably below its guidance for the ratings.

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