Fitch Affirms Global Switch at 'BBB’, Outlook Stable
November 24, 2011
Fitch Ratings-London-23 November 2011: Fitch Ratings has
affirmed Global Switch Holdings Ltd's (Global Switch) Long-term
Issuer Default Rating (IDR) and senior unsecured rating at 'BBB'
with a Stable Outlook. "Further to its EUR600m 2018 bond issue in
April 2011, Global Switch retains strong credit metrics, with
leverage on a loan-to-value basis at around 20%," says Jean-Pierre
Husband, a Director in Fitch's EMEA Industrials and Property team.
"Global Switch's financial structure could absorb a possible
further downturn in global economic activity."
Click Fitch Ratings Release for full text
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