| Add to balance / Manage account | User: | Log out |
| Prospect News home > News index > List of issuers S > Headlines for SBA Communications Corp. > News item |
S&P lifts American Tower, Crown Castle, SBA
Standard & Poor's said it raised the ratings on three U.S. wireless tower operators following a sector review.
The agency said it upgraded the corporate credit rating and senior unsecured debt rating on American Tower Corp. to BBB- from BB+, withdrew the 3 recovery rating and removed the ratings from CreditWatch positive.
S&P also said it raised the corporate credit rating on Crown Castle International Corp. to BB- from B+ and raised all other ratings by one notch. The ratings also were removed from CreditWatch positive.
The agency also said it raised the corporate credit rating on SBA Communications Corp. to BB- from B+ and raised all other ratings by one notch. Those ratings also were removed from CreditWatch positive.
The outlooks on all three companies are stable.
As part of the sector review of wireless tower operators, S&P said it revised the business risk profiles on each of these companies to excellent from strong based on key fundamentals that have prevailed over the past several years, said Catherine Cosentino, an S&P analyst.
The prevailing fundamentals include the industry's very healthy leasing gross profit and overall reported EBITDA margins of at least 70% and 60%, respectively, Cosentino said.
They also consider low volatility and cyclicality of the business, leading to high predictability of cash flows, she said.
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.