Fitch rates American Tower loan BBB-

Fitch Ratings said it assigned a BBB- rating to American Tower Corp.'s new $1 billion five-year senior unsecured credit facility.

The outlook is stable.

The new facility is due Jan. 31, 2017.

The company borrowed $700 million under the facility and used the proceeds, along with $625 million in borrowings on its $1 billion revolving credit facility due 2016, to repay outstanding amounts on the company's $1.25 billion revolving credit facility and $325 million term loan.

Fitch said it expects the company to access the long-term capital markets in the first half of 2012 to reduce outstanding amounts on its revolving facilities and in order to free up capacity to complete several pending acquisitions.

The ratings are supported by the financial flexibility provided by its strong free cash flow and its high EBITDA margin, the agency said.

The company's predictable and growing revenue base, which is generated primarily from long-term lease contracts with national wireless operators, leads to a low business risk profile, Fitch said.

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