03.04.2014 22:11:00

Telx Group Inc., The -- Moody's downgrades Telx's 2nd lien term loan to Caa2

New York, April 03, 2014 -- Moody's Investors Service ("Moody's") has downgraded the instrument rating of The Telx Group, Inc.'s ("Telx" or "the company") 2nd lien term loan to Caa2 (LGD5-79%) from Caa1 (LGD5-78%) following the company's decision to revise the structure of its debt issuance and shift $25 million from the 2nd lien to the 1st lien term loan. All other existing ratings including the B3 Corporate Family Rating (CFR) and B3-PD Probability of Default Rating (PDR) remain unchanged. The outlook remains negative.

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