Moody's assigns Chindata, notes Ba2

Moody's Investors Service said it assigned a first-time Ba2 corporate family rating to Chindata Group Holdings Ltd. and its planned dollar-denominated notes.

"Chindata's Ba2 CFR reflects the solid demand for data centers in China, as well as the company's predictable earnings stream with adequate committed preleasing, moderate leverage and relatively quick ramp-up to a 90% occupancy rate for its newly completed data centers," said Shawn Xiong, a Moody's assistant vice president and analyst, in a press release.

Chindata will use the proceeds to repay debt and for other general corporate purposes.

The outlook is stable, reflecting an expectation that Chindata will maintain a high occupancy rate at its data centers and complete the construction of its data centers on time and budget, the agency said.

© 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.