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KBRA Affirms Ratings for Cologix Data Centers US Issuer, LLC Series 2021-1

11 Apr 2025   |   New York

Contacts

KBRA affirms its ratings on four classes of notes issued by Cologix Data Centers US Issuer, LLC and Cologix Data Centers US Co-Issuer, LLC Series 2021-1, a colocation data center ABS securitization. KBRA’s analysis indicated that the existing credit enhancement is sufficient to support the affirmed ratings, which includes the upsize of the Class A-1 Notes, which are Variable Funding Notes (VFN) from $100 million to $180 million. KBRA assumes the Class A-1 VFN Notes are fully drawn in the analysis. To date, the securities have received timely interest payments. In addition to the affirmed ratings, KBRA is providing Rating Agency Confirmation (RAC) for the upsize of the Class A-1 VFN. The data used for this review is as of the March 2025 payment date.

To access ratings and relevant documents, click here.

Click here to view the report.

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Disclosures

Further information on key credit considerations, sensitivity analyses that consider what factors can affect these credit ratings and how they could lead to an upgrade or a downgrade, and ESG factors (where they are a key driver behind the change to the credit rating or rating outlook) can be found in the full rating report referenced above.

A description of all substantially material sources that were used to prepare the credit rating and information on the methodology(ies) (inclusive of any material models and sensitivity analyses of the relevant key rating assumptions, as applicable) used in determining the credit rating is available in the Information Disclosure Form(s) located here.

Information on the meaning of each rating category can be located here.

Further disclosures relating to this rating action are available in the Information Disclosure Form(s) referenced above. Additional information regarding KBRA policies, methodologies, rating scales and disclosures are available at www.kbra.com.

About KBRA

Kroll Bond Rating Agency, LLC (KBRA), one of the major credit rating agencies (CRA), is a full-service CRA registered with the U.S. Securities and Exchange Commission as an NRSRO. Kroll Bond Rating Agency Europe Limited is registered as a CRA with the European Securities and Markets Authority. Kroll Bond Rating Agency UK Limited is registered as a CRA with the UK Financial Conduct Authority. In addition, KBRA is designated as a Designated Rating Organization (DRO) by the Ontario Securities Commission for issuers of asset-backed securities to file a short form prospectus or shelf prospectus. KBRA is also recognized as a Qualified Rating Agency by Taiwan’s Financial Supervisory Commission and is recognized by the National Association of Insurance Commissioners as a Credit Rating Provider (CRP) in the U.S.

Doc ID: 1008959

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