Digital infrastructure – the data centers, GPU clusters and power systems behind the AI build-out – has become the largest financing story in credit markets, with hundreds of billions of loans now flowing through HY, BSL, private credit and securitization. This panel brings together the bankers, lenders and rating agency analysts structuring these deals to unpack how the instruments actually work, where the risk sits across the capital stack, and what it means for credit markets financing the build-out.

Moderator:

• Tess Virmani, General Counsel and EVP/Head of Policy, LSTA

Panelists:

• John Medina, Senior Vice President, Global Project and Infrastructure Finance, Moody’s Ratings