Moody’s upgrades Global Switch, bond to Baa2

Moody's Investors Service said it upgraded both the senior unsecured long-term issuer rating and the senior unsecured bond rating of Global Switch Holdings Ltd. to Baa2 from Baa3.

The outlook is stable.

"The upgrade of Global Switch's ratings reflects the company's consistent track record since its initial rating in 2011 and our continued expectation of strong demand for its services," Maria Maslovsky, Moody's assistant vice president, analyst and lead analyst for Global Switch, said in a news release.

"Global Switch benefits from the irreplaceable locations and high occupancy of its assets. However, its strengths are offset by its relatively small size and resulting asset concentration and some limitations on transparency related to its private company status."

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