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Rackspace Technology Global, Inc.: Update to credit analysis following...

Our credit view of this issuer reflects its large and experienced team of multicloud professionals and a differentiator in cloud migration, constrained by its declining revenue trends.

Moody's appends limited default (LD) to Rackspace's Caa1-PD following ...

Moody's Ratings (Moody's) has appended a limited default (LD) designation to Rackspace Technology Global, Inc.'s (Rackspace) Probability of Default Rating (PDR), changing it to Caa1-PD/LD from Caa1-PD, following a series of open market debt repurchases during the fourth quarter of 2023 and the annou...

Moody's appends limited default (LD) to Rackspace's Caa1-PD following ...

Moody's Investors Service (Moody's) appended a limited default (LD) designation to the Caa1-PD Probability of Default Rating (PDR) of Rackspace Technology Global, Inc. (Rackspace), changing it to Caa1-PD/LD. Moody's will remove the "/LD" designation from Rackspace's PDR after three business days. ...

Rackspace Technology Global, Inc.: Update to credit analysis following...

Credit view reflects very high execution risks of new business model transition from prior multi-yr strategy as company confronts declining revenue, margin pressures & weakening FCF.

Rackspace Technology Global, Inc.: Covenant Quality Post-Sale Snapshot...

Rackspace Technology Global, Inc.'s covenant package provides weakest-level protection, reflecting a CQ score of 4.53.

Moody's downgrades Rackspace's CFR to Caa1; outlook changed to negativ...

Moody's Investors Service (Moody's) downgraded Rackspace Technology Global, Inc.'s (Rackspace) corporate family rating (CFR) to Caa1 from B2 and its probability of default rating to Caa1-PD from B2-PD. The ratings on Rackspace's senior secured debt, comprised of a $375 million senior secured revolve...

Rackspace Technology Global, Inc.: Update to credit analysis

Our credit view of Rackspace reflects continued good execution on pivot to multicloud services model, continued profitable bookings trends, solid revenue growth & potential for deleveraging.

Moody's announces completion of a periodic review of ratings of Racksp...

Announcement of Periodic Review: Moody's announces completion of a periodic review of ratings of Rackspace Technology Global, Inc.. Global Credit Research- 31 Aug 2021. New York, August 31, 2021-- Moody's Investors Service has completed a periodic review of the ratings of Rackspace Technology Global, Inc. and other ratings that are associated with the same analytical unit.

Moody's affirms Rackspace's B2 CFR, assigns B1 to proposed senior secu...

Rating Action: Moody's affirms Rackspace's B2 CFR, assigns B1 to proposed senior secured notes; outlook stable. Global Credit Research- 02 Feb 2021. New York, February 02, 2021-- Moody's Investors Service has affirmed Rackspace Technology Global, Inc.' s B2 corporate family rating, B2-PD probability of default rating, B1 rating on its new $2.2 billion seven-year senior secured term loan B, B1 rating on its existing $375 million revolver and Caa1 rating on its $550 million of senior...

Moody's assigns B1 to Rackspace's new term loan

Rating Action: Moody's assigns B1 to Rackspace's new term loan. Global Credit Research- 26 Jan 2021. New York, January 26, 2021-- Moody's Investors Service has assigned a B1 rating to Rackspace Technology Global, Inc.' s proposed $2.2 billion seven-year senior secured term loan B. The net proceeds from the proposed term loan issuance will be used in conjunction with other secured debt to fully refinance the company's existing $2.8 billion term loan B due 2023. All other ratings...

Rackspace Technology Global, Inc.: Covenant Quality Post-Sale Snapshot...

The covenant package of Rackspace Technology Global, Inc. provides weakest-level protection, reflected by a CQ score of 4.75.

Rackspace Technology Global, Inc.: Update to credit analysis after out...

Our credit view update of Rackspace Technology Global after outlook change to stable from negative, reflecting strong bookings trends and revenue growth.

Moody's changes Rackspace's outlook to stable, assigns Caa1 to propose...

Rating Action: Moody's changes Rackspace's outlook to stable, assigns Caa1 to proposed senior unsecured notes. Global Credit Research- 16 Nov 2020. New York, November 16, 2020-- Moody's Investors Service has affirmed Rackspace Technology Global, Inc.' s B2 corporate family rating, B2-PD probability of default rating, B1 rating on its senior secured term loan and revolving credit facility and Caa1 rating on its existing senior unsecured notes.

Moody's says Rackspace Technology's planned initial public equity offe...

Announcement: Moody's says Rackspace Technology's planned initial public equity offering is credit positive; no current ratings impact. Global Credit Research- 20 Jul 2020. New York, July 20, 2020-- Moody's Investors Service said that the plan of Rackspace Technology Global, Inc.' s parent, Rackspace Technology, Inc., to issue equity through an initial public offering is a credit positive but does not currently impact Rackspace Technology's B2 corporate family rating or...

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