Datapipe #B# Rating Placed On CreditWatch Positive On Acquisition By Rackspace Hosting

Stocks and Financial Services Press Releases Tuesday September 12, 2017 09:14
NEW YORK--12 Sep--S&P Global Ratings

NEW YORK (S&P Global Ratings) Sept. 11, 2017--S&P Global Ratings today placedits 'B' corporate credit rating on Jersey City, N.J.-based data centeroperator Datapipe Inc. on CreditWatch with positive implications.

The CreditWatch placement follows the announcement that Datapipe has enteredinto a definitive agreement to be acquired by Rackspace Hosting Inc., which israted two notches higher at 'BB-'. While terms of financing have yet to bedisclosed and we need to assess the degree of execution risk as well aspotential synergies, we believe any downgrade of Rackspace would be limited toone notch.

The CreditWatch listing reflects the potential for up to a two-notch upgradebefore withdrawal of all our ratings on Datapipe. The withdrawal would followclose of the transaction, assuming all debt is repaid at Datapipe.


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