Data and information management

Data centers across 20 markets will provide the revenues to support the notes. Also, the largest customer accounts for 6.5% of annualized monthly recurring revenue (AMRR).

The data center's highly rated tech-firm tenant remains a mystery.

The methodology combines existing ABS and CMBS analyses

Carlyle Group Inc. expects more than $1.8 trillion of capital will be deployed by 2030 to meet that demand, and a chunk of that can be taken up by the private markets.

The notes benefit from various levels of debt service coverage ratio (DSCR) triggers that help support repayment.

Sabey 2025-2 will feature a $24.8 million liquidity reserve among other credit enhancement mechanisms, including cash trap and early amortization triggers.

The looming initial public offering from Swedish payments firm Klarna comes in the foreground of tariff uncertainties and inflationary pressures.

A set of performance-related triggers—cash trapping and expense reserve—will help maintain cash flow to the notes.

The rating agency covers its bases in preparation for a surge in data center debt

Among the deal's main credit strengths is that the real estate assets are protected by robust physical security, and 83.5% of the tenants have investment-grade credit ratings.