Equinix, Inc. -- Moody's assigns Ba2 to Equinix's proposed Term Loan

New York, December 08, 2016 -- Moody's Investors Service, ("Moody's") has assigned a Ba2 (LGD2) rating to Equinix, Inc.'s (Equinix or the company) proposed EUR500 million senior secured Term Loan B. The proceeds raise will be used to prefund a portion of Equinix's proposed $3.6 billion purchase of certain data centers from Verizon Communications Inc. ("Verizon") or general corporate purposes. Moody's anticipates that Equinix will complete the acquisition of assets from Verizon by mid-2017 and expects Equinix to raise additional debt and equity capital in advance of deal close. Moody's does not expect Equinix's Ba3 corporate family rating to change as a result of the Verizon transaction, primarily because Equinix has indicated plans to raise equity to fund part of the purchase price. The final mix of capital issued to fund the transaction could impact the notching of Equinix's existing secured (Ba2) and unsecured (B1) ratings, including the rating assigned today.

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