Data centers face new development challenges given the sector’s rapid expansion to meet rapidly rising demand from new AI investments and continued migration to the cloud. This has affected the power and utility sectors in addition to the data center developers and hyperscalers. High capital needs have resulted in a diverse approach to financing new data center investments across multiple capital markets. Join us for a dynamic webinar where Moody’s has convened a panel of cross sector analysts to delve into the intricacies of new data center developments.
Topics of conversation will cover these questions and more:
- How long will current data center supply and demand remain imbalanced?
- How will AI investments and continued cloud migration impact demand for data centers?
- Why are data center development timelines lengthening and what new obstacles are they facing?
- How is the rapid rise in data center electricity demand impacting the power and utilities sectors?
- How have privatizations and consolidation of data center companies and developers affected their approach to financing their operations and growth?
- What are key credit risks and trends for new project and structured finance data center financings?
- What key structural protections help mitigate refinancing, recontracting, and construction risks?
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SpeakersJohn Medina Senior Vice President, Global Project and Infrastructure Finance Moody's Ratings
Radi Annab Vice President - Senior Analyst, Global Project & Infrastructure Finance Group Moody's Ratings
Veronica Huang Vice President – Senior Analyst Moody's Ratings
Raj Joshi Senior Vice President, Corporate Finance Moody's Ratings
David Kamran AVP - Analyst, Global Project & Infrastructure Finance Moody's Ratings
Neil Mack Vice President - Senior Analyst, Corporate Finance Group Moody's Ratings
Tracy Rice Vice President - Senior Credit Officer, Structured Finance Moody's Ratings
Ranjini Venkatesan Vice President - Senior Credit Officer, US REITs, CFG Moody's Ratings
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Event Manager
If you have any questions about the event, please contact Sandra Fung at sandra.fung@moodys.com.
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John is a Senior Vice President in Moody’s Global Project and Infrastructure Finance Team covering a diverse portfolio of project financings, public private partnerships (PPPs), and municipal infrastructure issuers in the transportation, energy and social infrastructure sectors. John chairs Moody’s Global PPP Task Force and is the sector lead for US toll roads, PPPs and generic project financings. John authors research across multiple sectors and annually leads several new rating assignments for new PPPs and project financings in the US and Canada. John was selected as one of the Bond Buyer’s 2017 Rising Stars. Before joining the Infrastructure and Project Finance Team in 2010, John spent two and a half years as a lead analyst for local governments and enterprises in the Eastern Regional Local Government Ratings Team where he was the lead for municipal issuers in Pennsylvania and New York while also covering New Jersey, Virginia, and Florida. Prior to joining Moody’s, John worked as a risk management analyst, a property and casualty insurance account manager, and a health care claims auditor. John is a founding member and was the first co-chair of Moody’s NY Multicultural Employee Resource Group and is a founding steering committee member of Moody’s NY LGBTA Employee Resource Group. John earned his BA degree in Health Care Economics and Policy from Stanford University and his MPA in Health Care Public Finance from New York University’s Robert F. Wagner Graduate School of Public Service.
Radi Annab is a Vice President - Senior Analyst in the Global Project & Infrastructure Finance Group where he covers a diverse portfolio of public private partnerships (PPP), project financings, and infrastructure issuers in the transportation, social and energy sectors. He also leads new rating assignments for PPP bids and other project finance and infrastructure transactions. Radi joined Moody’s in September 2022. Prior to joining Moody’s, Radi was a lead rating analyst in the Infrastructure, Power &Utilities team at DBRS Morningstar in Toronto. Before moving to Canada, Radi’s experience included working on capital market transactions, corporate and project financings, and mergers & acquisitions, mainly in the EMEA region. He has also worked in insurance and asset management.
Radi earned an AB from Harvard University and an MBA from Georgetown University’s McDonough School of Business, where he was a Fulbright Scholar
Veronica Huang is a Vice President – Senior Analyst at Moody’s Ratings where he has been a member of the CMBS New Ratings team since 2017. She leads the ratings analysis of conduit/fusion and large loan CMBS transactions, with a focus on deals backed by complex and esoteric assets. Additionally, Veronica leads the CMBS data center team.
Before her current role, Veronica was a lead analyst in Moody’s RMBS Surveillance team, where she was responsible for monitoring complex legacy RMBS transactions. Veronica holds a Master of Science degree in Finance from the University of Rochester’s Simon Business School and a Bachelor of Science degree in Finance and Accounting from Drake University. She is also a CFA charterholder.
Raj Joshi is a Senior Vice President on the Corporate Finance Team. He is the lead analyst responsible for a portfolio of enterprise software, hardware and technology-enabled services companies. Raj has covered a portfolio of technology and business services companies since 2010. From 2005 to 2010, he was part of the Telecommunications and Media team. Before joining Moody’s in 2005, Raj was an International Banker at Union Bank of California (now part of Mitsubishi UFJ Financial Group).
Raj has an MBA from Syracuse University and a Bachelor of Science from the University of Mumbai. Raj is a CFA charterholder and a member of the CFA Institute and the New York Society of Security Analysts, Inc.
David Kamran is an AVP at Moody’s, covering a range of project finance and infrastructure issuers including power projects. David has been at Moody’s for more than eight years, with the last four years on the project finance team, and prior to that on the Sovereign Risk Group, covering entities in Africa and Latin America. Prior to joining Moody’s David worked at the World Bank, and spent time at the U.S. Department of the Treasury.
Neil Mack is a Vice President - Senior Analyst on Moody’s Telecommunications/MediaTeam covering a portfolio of investment grade and high yield telecommunicationscompanies. Prior to joining Moody’s in 2017 he held various positions in fixed incomeasset management, including at Citigroup Asset Management, Bear Stearns,AllianceBernstein and PartnerRe Asset Management.Neil is a CFA charterholder and a member of the New York Society of SecurityAnalysts. He received his MBA in Finance from Columbia University and BA in Englishfrom Fordham University.
Tracy Rice is a Vice President – Senior Credit Officer in the U.S. Structured Finance Group at Moody’s Investors Service. Tracy joined Moody’s in 2005, and is currently part of a team that assigns new ratings to securities backed by esoteric assets. She is a committee chairperson and covers a variety of asset classes including solar, PACE, aircraft, container, whole business, utility cost recovery and more. She has written numerous reports covering these sectors. Tracy continues to be actively involved in methodology development and many analytical projects. Previously, Tracy covered various other ABS sectors, including student loans and equipment leases and loans. She also authored Moody’s approaches to rating private (non-guaranteed) student loan securitizations. Prior to Moody’s, Tracy occupied positions at Citigroup and J.P. Morgan Chase in risk and decision management. Tracy holds a M.S. in Statistics and a B.S. in Applied Mathematics from the State University of New York at Stony Brook
Ranjini Venkatesan is a VP Senior Credit Officer in the CRE-REIT team at Moody’s covering a portfolio of real estate investment trust (REIT) and real estate operating company (REOC) issuers. In addition, she is the sector specialist for office and data center REITs. Prior to joining the real estate finance team, Ranjini was a lead analyst in the Financial Institutions group at Moody’s focusing on financial guaranty and mortgage insurance companies. Before that, she was sellside equity research analyst at ABN Amro Asia.
Ranjini received her BSc. (Hons.) from University of Delhi, an MBA from Indian Institute of Management, Bangalore and a Master’s in International Affairs from Columbia University.