Fitch rates Digital Realty notes BBB

Fitch Ratings said it assigned a BBB rating to the senior unsecured notes issued by Digital Realty Trust, LP.

The notes are fully and unconditionally guaranteed by Digital Realty Trust, Inc.

The proceeds, together with borrowings under the revolving credit facility or cash on hand, are intended to refinance all of the company's 3.4% senior notes due 2020 and 5.25% notes due 2021 under a tender offer.

The outlook is stable.

The company's credit strengths include a global platform, granular tenant base, good access to multiple forms of capital, strong liquidity, conservative capital-raising strategy and strong management, Fitch said.

These credit positives are balanced by a less established record in the commercial real estate market, more limited access to the liquid investment market and less leveragability relative to other commercial property asset classes, the agency said.

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