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S&P gives lift to QTS Realty Trust
S&P said it is raising its issuer credit rating on QTS Realty Trust Inc. to BB from BB-.
At the same time, S&P raised its issue-level ratings on the company's unsecured notes to BB+. The recovery rating remains 2, reflecting an expectation of a substantial (70% to 90%; rounded estimate: 85%) recovery in the event of a default.
“QTS Realty Trust Inc. improved its credit profile as of year-end 2020, and S&P Global Ratings believes the company is well positioned to benefit from the strong tailwinds for data center landlords over the next several years,” S&P said in a news release.
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