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Research Update: Mobilitie Investments II LLC Assigned Preliminary 'B' Rating; Secured Credit Facilities Rated 'BB-' (Prelim)
Standard & Poors, May 2011
U.S. wireless tower operator Mobilitie Investments II LLC is refinancing its debt with a proposed $415 million of secured credit facilities. We expect the company to have leverage of nearly 10x, including our adjustments as of the end of 2011 as it continues to expand its tower base. We are assigning our preliminary 'B' corporate credit rating to the company, with a stable outlook. We are also assigning a preliminary 'BB-' issue-level rating to its proposed credit facilities. The outlook is stable, due to the high leverage, combined with our expectation for increasing funds from operations and eventual free operating cash flow generation. On May 17, 2011, Standard & Poor's Ratings Services has assigned its preliminary 'B' corporate credit rating...
Companies mentioned in this report are: Mobilitie Investments II LLC
Action: New Rating
Standard and Poors RatingsXpress Credit Research provides in-depth coverage of international corporates, financial institutions, insurance companies, utilities, sovereigns and structured finance programs. RatingsXpress Credit Research lets users determine the credit rating of holdings and identify key factors underlying an issuer's creditworthiness, distinguishes the different risk exposures for new and existing deals, and provides an understanding of how their analysts interpret key regulatory, political and environmental events and their economic impact.
Product Type: Research Update
Research updates complement media releases. They offer more depth and detail than summary analyses by incorporating all information published in the media release. They are more up to date than summaries in that they are published simultaneously with media releases.
Mobilitie Investments II LLC