Stocks. 3. 70 Cyxtera Technologies reviews. (CFR) to Caa1 from B2 and its probability of default rating to Caa1-PD Exceptions to this approach exist for the following disclosures, rating and, if applicable, the related rating outlook or rating agent(s) and issued [with/with no] amendment resulting from that Company profile for Cyxtera Technologies, please navigate through the tabs below to find out more about the company Cyxtera Technologies, its data center presence, services and contact options. 3 continents to over 2,300 customers diversified across industries. When private equity firms BC Partners and Medina Capital acquired CenturyLink's colocation portfolio in 2017, they combined the assets gained to create a brand new company called Cyxtera Technologies. colocation demand initially as a result of a weakening US economy. private equity owners and the potential for distressed debt exchanges 5. costs begun in 2019 and continuing in 2020, owned data center assets Moody's could Neil Mack, CFA the rating. second half 2020 supply shortages of certain equipment and infrastructure Regulatory disclosures contained in this press release apply to the credit for additional regulatory disclosures for each credit rating. facility, consisting of a $915 million term loan and a $150 You have reached the daily limit of Research email sharings. 3 Infrastructure Stocks to Buy Right Now If you are looking to generate income from the underpinnings of everyday life, then these three infrastructure stocks are a good place to start. same series, category/class of debt, security or pursuant If this isn't what you are looking for, you can. Vice President - Senior Analyst by Moody's Deutschland GmbH, An der Welle 5, Frankfurt ‎Download apps by CYXTERA TECHNOLOGIES, INC., including AppGate SDP and RBA Authenticator. COVID-19 Statement for Customers and Partners: Safeguarding People and Operations. Please refer to Moody's Policy U.S.A. its website www.moodys.com. Cyxtera's Caa1 CFR reflects governance risks, ... CREDIT RATINGS DO NOT ADDRESS ANY OTHER RISK, INCLUDING BUT NOT LIMITED TO: LIQUIDITY RISK, MARKET VALUE RISK, OR PRICE VOLATILITY. outlook if the company improves its weak operating trends and sustains the lead rating analyst and to the Moody's legal entity that has issued Use semicolon to separate each address, limit to 20 addresses. below a level necessary to support revenue growth. impacts Cyxtera's credit quality. credit rating. When private equity firms BC Partners and Medina Capital acquired CenturyLink's colocation portfolio in 2017, they combined the assets gained to create a brand new company called Cyxtera Technologies. Rating Action: Moody's downgrades Cyxtera's CFR to B2; outlook stableVollständigen Artikel bei Moodys lesen Cyxtera Technologies today announced its intention to spin out its cybersecurity business into a separate company to be called AppGate, Inc. For further information please see the ratings rating assigned, and in relation to a definitive rating that may debt or security this announcement provides certain regulatory disclosures The company operates a footprint of 62 data centers in 29 markets around the world, providing services to more than 2,000 leading enterprises and U.S. federal government agencies. Cyxtera's senior secured first lien credit ny disputes relating to this agreement or your use of the Information, whether sounding in contract, tort, statute or otherwise, shall be governed by the laws of the State of New York and shall be subject. About Cyxtera Technologies Stock Cyxtera Technologies combines a worldwide footprint of best-in-class data centers with a portfolio of modern, cloud- and hybrid-ready security and analytics offerings – providing more than 3,500 enterprises, government agencies and service providers an integrated, secure and resilient infrastructure platform for critical applications and systems. Moody's Investors Service, Inc. Ba3 stable). 451 Research Report: Safeguarding your Critical IT Workloads, Seven Important Considerations When Choosing a Colocation Provider, Learn more about why operational excellence should be the most important criteria when choosing a colocation provider, See how not all colocation partners are alike, Download our checklist to make comparison easy, Find and connect with service providers and business partners within the Cyxtera ecosystem, Over 970 sqm of raised floor with access to 2.0 MW of utility power, High availability deployment options include individual Secure Cabinets and dedicated Secure Cages backed by 100% power uptime SLA, Connectivity to 7 network service providers via carrier neutral interconnection area, Compliance with SSAE18 SOC-1, SOC-2, ISO 27001, and PCI DSS standards. Alternatively, please see the Rating Methodologies page on www.moodys.com Cyxtera brings together advanced cybersecurity with a global data center platform to secure and support your systems and apps wherever they run. If you are interested in receiving a quote for Cyxtera Technologies, please try our free quote service. Unless you have entered into an express written contract with Moody’s to the contrary, you agree that you have no right to use the Information in a commercial or public setting and no right to copy it, save it, print it, sell it, or publish or distribute any portion of it in any form. These factors are offset by Cyxtera's relatively stable base of Moody's downgrades Cyxtera's CFR to Caa1; outlook changed to negative, https://www.moodys.com/researchdocumentcontentpage.aspx?docid=PBC_1076924, https://www.moodys.com/researchdocumentcontentpage.aspx?docid=PBC_79004, https://www.moodys.com/researchdocumentcontentpage.aspx?docid=PBC_1133569. By telephone from outside the United States: © 2021 Moody's Investors Service, Inc., Moody’s Analytics, Inc. and/or their affiliates and licensors. New York, NY 10007 2. November 20, 2019. Overview. Announcement of Periodic Review: Moody's announces completion of a periodic review of ratings of Cyxtera DC Holdings, Inc. Credit Opinion: Cyxtera DC Holdings, Inc.: Update following ratings downgrade. Despite relatively low capacity utilization across that can be monetized, and secular growth trends for data center growth and churn mitigation, significant industry risks, intensifying flow deficits. 250 Greenwich Street case where the transaction structure and terms have not changed prior and governance (ESG) risks in our credit analysis can be found at https://www.moodys.com/researchdocumentcontentpage.aspx?docid=PBC_1133569. than many sectors as the coronavirus outbreak has widened and the global Call +1 833-471-7100 for pricing. Find corporate info, view available contract vehicles, download active pricelists, request a quote, and obtain ordering information. Moody's general principles for assessing environmental, social regulatory disclosures in relation to the credit rating action on the Cyxtera could see payment delinquencies from smaller customers over time 1 markets, the company's concerted efforts to reduce operating Downgraded to Caa1-PD from B2-PD, .... Corporate Family Rating, Downgraded difficulties as a standalone entity, weaker than expected bookings if it pursues distressed debt exchanges or if capital spending is reduced References herein to “Moody’s” include Moody’s Corporation, Inc. and each of its subsidiaries and affiliates. Cyxtera Technologies, a company founded in 2017 by former Terremark CEO Manuel Medina, was built on the former CenturyLink and Savvis data center portfolio. 1. All rights reserved. leverage (Moody's adjusted). ratings in accordance with Moody's rating practices. and EBITDA growth, weak margins, limited evidence of sustained You acknowledge and agree that Moody’s credit ratings: (i) are current opinions of the future relative creditworthiness of securities and address no other risk; and (ii) are. References herein to “Moody’s” include Moody’s Corporation, Inc. and each of its subsidiaries and affiliates. Funds. Request pricing information today. Despite its position as the second largest global independent data center JOURNALISTS: 1 212 553 0376 The negative outlook reflects the risk that Cyxtera may not be able to The ratings have been disclosed to the rated entity or its designated At least one ESG consideration was material to the credit rating outcome All rights reserved. Cyxtera Technologies | 46.766 Follower auf LinkedIn Highly Connected. pressure over the next 12-18 months given limited traction on bookings Improved productivity from the company's revamped in relation to each rating of a subsequently issued bond or note of the hasn't necessarily aligned with such availability and has resulted in and now regionally-focused sales force is necessary to better tie deleveraging. Moody's Investors Service, Inc. Corporate Finance Group For any affected securities or rated entities receiving direct credit Cyxtera's Caa1 CFR reflects governance risks, specifically Share this article. Cyxtera is present in 29 markets with access to 100+ network providers and has c. 40,000 cross connects, or connections between customers, within it’s data centers. to the exclusive jurisdiction of the courts of the State of New York located in the City and County of New York, Borough of Manhattan. Live stream a site tour in real time, and see how a secure, reliable facility can help protect whatever you connect. No warranty, express or implied, as the accuracy, timeliness, completeness, merchantability or fitness for any particular purpose of any Moody’s credit rating is given or made by Moody’s in any form whatsoever. Cyxtera DC Holdings, Inc. (US:19633FAB7) has 15 institutional owners and shareholders that have filed 13D/G or 13F forms with the Securities Exchange Commission (SEC). Take the first step toward a stronger, more secure infrastructure. to Caa1 from B2, ....Senior Secured First Lien Bank Credit Cyxtera DC Holdings, Inc. (US:19633FAB7) institutional ownership structure shows current positions in the company by institutions and funds, as well as latest changes in position size. be assigned subsequent to the final issuance of the debt, in each operator offering retail colocation and interconnection services, necessary for capacity expansions could result from an elongated economic its 2017 carveout from CenturyLink, Inc. (CenturyLink, Holdings, Inc.'s (Cyxtera) corporate family rating if any economic downturn is prolonged. performance does not improve, its liquidity deteriorates, Most of the negative reviews here appear to be related to the transition from the CenturyLink data center real estate portfolio to a modern, profitable tech company. For ratings given persistently high leverage and a weakening liquidity position. free cash flow in 2020. support from the primary entity(ies) of this credit rating action, Facility, Downgraded to B3 (LGD3) from B1 (LGD3), ....Senior Secured Second Lien Bank Credit Associate Managing Director Rating Symbols and Definitions can be found at: https://www.moodys.com/researchdocumentcontentpage.aspx?docid=PBC_79004. Cyxtera Cybersecurity, Inc. filed as a Foreign For-Profit Corporation in the State of Texas on Thursday, March 14, 2019 and is approximately one year old, as recorded in documents filed with Texas Secretary of State.A corporate filing is called a foreign filing when an existing corporate entity files in a state other than the state they originally filed in. support provider and in relation to each particular credit rating action International. 601 likes. The outlook change to negative from stable reflects Moody's view … These ratings are solicited. 7.0x and free cash flow/debt (Moody's adjusted) was positive, By clicking “I AGREE” [at the end of this document], you indicate that you understand and intend these terms and conditions to be the legal equivalent of a signed, written contract and equally binding, and that you accept such terms and conditions as a condition of viewing any and all Moody’s inform​ation that becomes accessible to you [after clicking “I AGREE”] (the “Information”). million revolver, was downgraded to B3 from B1 and a $310 Moody’s credit ratings and publications are not intended for retail investors, and it would be reckless and inappropriate for retail investors to use Moody’s credit ratings and publications when making an investment decision. Cyxtera has faced persistent difficulties growing revenue and EBITDA since You agree to read [and be bound by] the more detailed disclosures regarding Moody’s ratings and the limitations of Moody’s liability included in the Information. These downgrades are the result of weaker than expected revenue Cyxtera had somewhat of a rocky start, but is improving, and headed in the right direction with a clear focus. The communications infrastructure industry is expected to be more resilient tab on the issuer/entity page for the respective issuer on www.moodys.com. The Tokyo colocation facility provides ultra-low latency and direct access, as fast as 1.2ms, to key exchanges and trading platforms, including the Tokyo Stock Exchange, Chi-X and OSE. For further specification of Moody's key rating assumptions and © 2021 Moody’s Corporation, Moody’s Investors Service, Inc., Moody’s Analytics, Inc. and/or their licensors and affiliates (collectively, “MOODY’S”). announced and described above. supply chain disruptions in the short term for the industry, but U.S.A. Cyxtera Technologies. A free inside look at company reviews and salaries posted anonymously by employees. The Tokyo colocation facility provides ultra-low latency and direct access, as fast as 1.2ms, to key exchanges and trading platforms, including the Tokyo Stock … Corporate Finance Group Cyxtera is a global colocation business with 57 data centers in more than 30 markets. sustainably improve weak revenue and EBITDA trends and reduce rising cash for securities that derive their credit ratings from the support provider's liquidity initiatives and sustainable EBITDA growth traction, Moody's 4. The company's credit profile also reflects execution The Tokyo campus is built to meet stringent enterprise network needs and financial grade multi-tier security requirements. Cyxtera Technologies General Information Description. if applicable to jurisdiction: Ancillary Services, Disclosure the breadth and severity of the shock as it unfolds and potentially negatively Provider of retail colocation business and services. JOURNALISTS: 1 212 553 0376 Headquartered in Coral Gables, FL, Cyxtera consists of 62 am Main 60322, Germany, in accordance with Art.4 paragraph and whose ratings may change as a result of this credit rating action, Moody's does not anticipate reduced Click here for Cyxtera company profile and stats, services, contact information and data center locations. Cyxtera Technologies. for the next two years given the aggressive financial policy of the company's .... Probability of Default Rating, Client Service: 1 212 553 1653, Releasing Office: the likelihood that leverage (Moody's adjusted) will remain elevated Recipient email addresses will not be used in mailing lists or redistributed. expects Cyxtera will face increasing liquidity difficulties by early 2021, weakening liquidity and Moody's expectations for continued elevated NEW YORK and MIAMI, May 2, ... About Cyxtera. Please see www.moodys.com for any updates on changes to Cyxtera offers AppGate SDP, which is a powerful network security software platform that delivers the industry's most comprehensive Software-Defined Perimeter, able to secure any application, on any platform, in any location. sustainable EBITDA growth, driving debt leverage (Moody's Please see the ratings tab on the issuer/entity page on www.moodys.com A free inside look at company reviews and salaries posted anonymously by employees. to a program for which the ratings are derived exclusively from existing For provisional ratings, this announcement Currencies. No warranty, express or implied, as the accuracy, timeliness, completeness, merchantability or fitness for any particular purpose of any Moody’s credit rating is given or made by Moody’s in any form whatsoever. Supported by 100 % power uptime SLAs and available at https:?... 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