S&P Global Ratings, world leading provider of independent credit ratings, today launched new interactive dashboard providing dynamic view of its rated North American data center universe across Project Finance, and Corporates, and Structured Finance asset-backed securities SF ABS. Dashboard brings together information across three areas, providing overview of market, issuer tear sheets and comparatives, and insights into states where capacity being leased. It accompanies S&P Global Ratings fourth-quarter roundup, North America Data Center Roundup: Fourth-Quarter 2026, published Oct 16 2026.
Our rated North American data center universe now spans 32 digital infrastructure transactions and $105.3 billion in debt issuance across project finance, structured finance ABS, and corporates. Bringing information together in interactive format provides more comprehensive view of rated data center universe as demand continues to grow.
Key takeaways from fourth-quarter roundup:
S&P Global Ratings currently rates 32 digital infrastructure transactions in North America across Project Finance PF, Corporates, and Structured Finance asset-backed securities SF ABS. Majority are SF ABS issuers 50%, followed by PF issuers 28% and Corporates 22%, based on number of issuers.
Total debt issuance across rated issuers reaches $105.3 billion, with PF accounting for 58.3%, SF ABS for 26.4%, and Corporates for 15.3%.
Rated transactions backed by 143 properties with approximately 8.7 gigawatts of capacity available to tenants in North America.
S&P Global Ratings expects data center demand to remain strong in foreseeable future, driven by exponential data growth, cloud migration, and ongoing digitization of global economy.
S&P Global Ratings believes power constraints, permitting challenges, public pushback and regulatory responses could delay or constrain new data center development.
Access interactive North America data center dashboard here. Report does not constitute rating action.
About S&P Global Ratings
At S&P Global Ratings, analyst-driven credit ratings, research, and sustainable finance opinions provide critical insights essential to translating complexity into clarity so market participants can unlock opportunities and make decisions with conviction. By bringing transparency to market through high-quality independent opinions on creditworthiness, enable growth across wide variety of organizations, including businesses, governments, and institutions. S&P Global Ratings is division of S&P Global NYSE: SPGI.
