S&P rates American Tower loans BBB

Standard & Poor's said it assigned its BBB rating to the $1.3 billion senior secured bank loan of American Tower Corp.'s subsidiaries American Tower LLC, American Towers Inc., American Tower International Inc., and American Tower LP

S&P also said it assigned a BBB rating to subsidiary SpectraSite Communication Inc.'s $1.15 billion secured bank loan. The recovery rating for both loans is 1.

S&P said it affirmed its BB+/Stable/-- corporate credit ratings on American Tower and SpectraSite. SpectraSite Communications and its parent, SpectraSite Inc. were acquired by American Tower in August.

The outlook is stable.

American Tower has benefited from the growth experienced by the wireless carriers, both in terms of absolute subscribers and per-subscriber minutes of use, S&P said.

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