{"id":536205,"date":"2021-09-09T08:03:06","date_gmt":"2021-09-09T12:03:06","guid":{"rendered":"https:\/\/www.marketnewsdesk.com\/index.php\/sp-upgrades-cyxtera-to-b-on-strength-of-interconnection-and-improved-liquidity-position\/"},"modified":"2021-09-09T08:03:06","modified_gmt":"2021-09-09T12:03:06","slug":"sp-upgrades-cyxtera-to-b-on-strength-of-interconnection-and-improved-liquidity-position","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/sp-upgrades-cyxtera-to-b-on-strength-of-interconnection-and-improved-liquidity-position\/","title":{"rendered":"S&P Upgrades Cyxtera to B- on Strength of Interconnection and Improved Liquidity Position"},"content":{"rendered":"

<\/p>\n

S&P Upgrades Cyxtera to B- on Strength of Interconnection and Improved Liquidity Position<\/b><\/p>\n

S&P Rates Cyxtera DC Holdings B-, Assigning Same Credit Rating and Stable Outlook to Company\u2019s New Parent, Cyxtera Technologies<\/i><\/p>\n

MIAMI–(BUSINESS WIRE<\/a>)–Cyxtera<\/a> (NASDAQ: CYXT<\/a>), a global leader in data center colocation and interconnection services, today announced that Standard & Poor\u2019s (\u201cS&P\u201d) upgraded the credit rating of Cyxtera DC Holdings, Inc. to B- and assigned a credit rating of B- with a stable outlook to its new parent company, Cyxtera Technologies, Inc. The upgrade and issuer credit rating are effective as of September 1, 2021.\n<\/p>\n

\nThis positive ratings action by S&P reflects the competitive strength of the company\u2019s interconnection services, the company\u2019s increased liquidity position following its merger with Starboard Value Acquisition Corp (SVAC), and the financial flexibility available to Cyxtera based on its capitalized leases. The company\u2019s robust customer base, strategic focus on retail colocation, and ability to grow its bare metal offerings were also positive ratings factors.\n<\/p>\n

\n\u201cThe upgraded rating of Cyxtera DC Holdings and the assignment of a B- credit rating of Cyxtera Technologies validate that Cyxtera\u2019s focus on a highly connected global platform of retail colocation data centers positions the company to benefit from secular tailwinds,\u201d said Carlos Sagasta, Cyxtera\u2019s Chief Financial Officer. \u201cThe stable outlook underlying these ratings further substantiates that Cyxtera is well positioned to create long-term value for all of our key stakeholders.\u201d\n<\/p>\n

About Cyxtera<\/b><\/p>\n

\nCyxtera is a global leader in data center colocation and interconnection services. The company operates a footprint of 61 data centers in 29 markets around the world, providing services to more than 2,300 leading enterprises and U.S. federal government agencies. Cyxtera brings proven operational excellence, global scale, flexibility, and customer-focused innovation together to provide a comprehensive portfolio of data center and interconnection services. For more information, please visit www.cyxtera.com<\/a>.\n<\/p>\n

Forward Looking Statements<\/b><\/p>\n

\nThis press release contains forward-looking statements that involve risks and uncertainties. Actual results may differ materially from expectations discussed in such forward-looking statements. Factors that might cause such differences include, but are not limited to, Cyxtera\u2019s dependence upon the demand for data centers; Cyxtera\u2019s products and services having a long sales cycle; Cyxtera\u2019s fluctuating operating results; Cyxtera\u2019s ability to compete successfully against current and future competitors; Cyxtera\u2019s ability to continue to develop, acquire, market and provide new offerings or enhancements to existing offerings that meet customer requirements and differentiate it from its competitors; Cyxtera\u2019s ability to manage its growth; the effects of the COVID-19 pandemic on Cyxtera\u2019s business or future results; the impact of Cyxtera\u2019s substantial debt on its future cash flows and its ability to raise additional capital in the future; and the ability of Cyxtera to access external sources of capital on favorable terms or at all. The foregoing list of factors is not exhaustive. You should carefully consider the foregoing factors and the other risks and uncertainties described in Cyxtera\u2019s filings with the Securities and Exchange Commission. There may be additional risks that Cyxtera does not presently know or that it currently believes are immaterial that could also cause actual results to differ from those contained in the forward-looking statements. In addition, forward-looking statements reflect Cyxtera\u2019s expectations, plans or forecasts of future events and views as of the date of this press release. Accordingly, you should not place undue reliance upon any such forward-looking statements in this press release. Cyxtera does not assume any obligation to update the forward-looking information contained in this press release, except as required by law.\n<\/p>\n

\"\"<\/p>\n

View source version on businesswire.com: <\/span>https:\/\/www.businesswire.com\/news\/home\/20210909005093\/en\/<\/a><\/span><\/p>\n

Media Contact:
\n<\/b>
Xavier Gonzalez
\n
Xavier.gonzalez@cyxtera.com<\/a><\/p>\n

Investor Relations Contact:
\n<\/b>
Michael Morales
\n
IR@cyxtera.com<\/a><\/p>\n

KEYWORDS:<\/b> United States North America Florida<\/p>\n

INDUSTRY KEYWORDS:<\/b> Data Management Technology Other Technology Software Networks Internet Hardware<\/p>\n

MEDIA:<\/b><\/p>\n\n\n\n\n
Logo<\/b><\/font><\/td>\n<\/tr>\n
\"Logo\"<\/td>\n<\/tr>\n
<\/font><\/td>\n<\/tr>\n<\/table>\n","protected":false},"excerpt":{"rendered":"

S&P Upgrades Cyxtera to B- on Strength of Interconnection and Improved Liquidity Position S&P Rates Cyxtera DC Holdings B-, Assigning Same Credit Rating and Stable Outlook to Company\u2019s New Parent, Cyxtera Technologies MIAMI–(BUSINESS WIRE)–Cyxtera (NASDAQ: CYXT), a global leader in data center colocation and interconnection services, today announced that Standard & Poor\u2019s (\u201cS&P\u201d) upgraded the credit rating of Cyxtera DC Holdings, Inc. to B- and assigned a credit rating of B- with a stable outlook to its new parent company, Cyxtera Technologies, Inc. The upgrade and issuer credit rating are effective as of September 1, 2021. This positive ratings action by S&P reflects the competitive strength of the company\u2019s interconnection services, the company\u2019s increased liquidity position following its merger with … <\/p>\n

Continue reading “S&P Upgrades Cyxtera to B- on Strength of Interconnection and Improved Liquidity Position”<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-536205","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"\nS&P Upgrades Cyxtera to B- on Strength of Interconnection and Improved Liquidity Position - Market Newsdesk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.marketnewsdesk.com\/index.php\/sp-upgrades-cyxtera-to-b-on-strength-of-interconnection-and-improved-liquidity-position\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"S&P Upgrades Cyxtera to B- on Strength of Interconnection and Improved Liquidity Position - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"S&P Upgrades Cyxtera to B- on Strength of Interconnection and Improved Liquidity Position S&P Rates Cyxtera DC Holdings B-, Assigning Same Credit Rating and Stable Outlook to Company\u2019s New Parent, Cyxtera Technologies MIAMI–(BUSINESS WIRE)–Cyxtera (NASDAQ: CYXT), a global leader in data center colocation and interconnection services, today announced that Standard & Poor\u2019s (\u201cS&P\u201d) upgraded the credit rating of Cyxtera DC Holdings, Inc. to B- and assigned a credit rating of B- with a stable outlook to its new parent company, Cyxtera Technologies, Inc. The upgrade and issuer credit rating are effective as of September 1, 2021. 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