American Tower Corp.'s $250 Million Unsecured Notes Rated 'BB+'; Other Ratings Affirmed Sep 07
Standard & Poors, September 2007
Abstract
NEW YORK (Standard & Poor's) Sept. 24, 2007--Standard & Poor's Ratings Services said today it assigned its 'BB+' rating to Boston-based American Tower Corp.'s proposed $250 million senior notes due 2017, to be issued under Rule 144A with registration rights. At the same time, we affirmed the existing ratings on the company, including the 'BB+' corporate credit rating. The outlook is stable. "Since the new notes will be used to refinance existing debt, specifically a portion of the company's senior unsecured term loan, the company's financial profile is unchanged," said Standard & Poor's credit analyst Catherine Cosentino. About $4 billion of total debt was outstanding as of June 30, 2007. The ratings on American Tower reflect the promising prospects of...
Companies mentioned in this report are: American Tower Corp.
Action: Affirmed
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.
Research type: News
This product is a is a brief one-page announcement of no more than 500 words with a quote from the analyst. It is media and investor focused with no accompanying commentary article.
American Tower Corp.
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