Moody's eyes Switch for downgrade

Moody's Investors Service said it placed Switch, Ltd.'s ratings, including its Ba1 senior secured credit facility rating and its B1 senior unsecured debt ratings, on review for downgrade due to the high likelihood of deterioration in its leverage metrics after the planned acquisition of the company by DigitalBridge Partners II and IFM Investors.

“The review will focus on Switch's post-transaction capital and portfolio strategy including leverage ratios and growth plans,” the agency said in a press release.

The acquisition is expected to close in the second half of 2022.

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