Fitch gives American Tower debt BBB+

Fitch Ratings has assigned a BBB+ rating to American Tower Corp.’s offering of €750 million 0.45% senior unsecured notes due 2027, €750 million 0.875% senior unsecured notes due 2029 and €500 million of 1.25% senior unsecured notes due 2033.

The rating outlook is stable.

Net proceeds from the notes will be used for general corporate purposes such as the funding of acquisitions (including the pending Telxius acquisition), additions to working capital, and to repay or refinance debt.

The company currently has an issuer default rating of BBB+ with a stable rating outlook.

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