S&P Global Ratings dashboard covers 32 data center transactions, $105.3B debt

S&P Global Ratings said on Oct. 23 that it launched an interactive North America data center dashboard covering a rated universe of 32 digital infrastructure transactions and $105.3 billion of debt issuance.

The release describes a market overview, issuer tear sheets and comparatives, with state-level information on where capacity is being leased. The dashboard spans project finance, corporate and structured finance asset-backed securities coverage. It accompanies the firm's fourth-quarter North America Data Center Roundup, published Oct. 16, and the release says the roundup does not constitute a rating action.

For allocators, the dashboard gives a comparison set: a data center deal offered through a fund can be checked against the rated transactions S&P covers, and the state-level figures show where tenants are taking capacity. The same data center exposure can reach an allocator through project finance debt, corporate bonds or asset-backed securities.

The dashboard follows S&P Global's Oct. 22 statement that it would open its iLEVEL data to Copilot and Claude through an MCP connector.

Read the $105.3 billion as a volume of debt issuance across rated transactions, not as outstanding debt or asset value. It is a rated subset: the figure describes the part of the data center capital stack carrying an S&P rating.