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S&P rates Crown Castle notes BBB-
S&P said it assigned its BBB- issue-level rating to Crown Castle International Corp.’s proposed senior unsecured notes due 2021 (amount to be determined).
S&P said it expects the company will use the proceeds from the offering to repay all $500 million outstanding of its senior secured notes due 2017.
The BBB- corporate credit rating and stable outlook on the company are unchanged, since S&P said it does not expect the transaction to materially affect leverage.
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