| Add to balance / Manage account | User: | Log out |
| Prospect News home > News index > List of issuers Q > Headlines for QTS Realty Trust, Inc. > News item |
S&P rates QTS notes BB
S&P said it assigned a BB issue-level rating to QTS Realty Trust Inc. subsidiaries QualityTech LP's and QTS Finance Corp.'s proposed $350 million senior unsecured notes due 2025.
The 2 recovery rating indicates an expectation for substantial (70%-90%; rounded estimate: 85%) recovery for lenders in the event of a payment default.
The agency said it expects the company to use proceeds from the notes to repay its $300 million 5 7/8% senior unsecured notes due 2022 and borrowings under the revolving credit facility.
The BB- corporate credit rating and stable outlook are unchanged.
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.