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{US}Equinix (Baa2/BBB): ING Downplays Hindenburg{EQIX US Equity}

REAL ESTATE
  • ING write that the concerns raised aren't a complete surprise and they remain "comfortable" with the credit.
  • They point out that it was "clear maintenance capex was very low" and "aware of the competitive offerings from hyperscalers".
  • They comp the credit to Vodafone "should trade slightly outside" rather than other data REITs.

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