KBRA publishes research that examines data center issuance with regard to colocation transactions. Following KBRA’s publication of Data Centers in U.S. Securitization: A Primer, data center securitization issuance has continued to rise. In this KBRA report, after providing a brief refresher on the types of data center transactions, as well as issuance volume, we place a spotlight on colocation transactions, discussing collateral profile, key metrics, and performance trends. We have now entered the third year following the issuance of the first of four KBRA-rated colocation transactions (DataBank 2021-1). Overall, 12 series have been issued across the four transactions and are outstanding.

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Related Publications

• Data Centers in U.S. Securitization: A Primer
• Cologix 2021-1 Surveillance Report
• DataBank Issuer, LLC Series 2024-1 New Issue Report
• Flexential 2021-1 and 2021-2 Surveillance Report
• TierPoint 2023-1 and 2023-2 New Issue Report

About KBRA

KBRA is a full-service credit rating agency registered in the U.S., the EU, and the UK, and is designated to provide structured finance ratings in Canada. KBRA’s ratings can be used by investors for regulatory capital purposes in multiple jurisdictions.

Doc ID: 1003535

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