Fitch alters ATP Tower view to negative

Fitch Ratings said it changed the outlook for ATP Tower Holdings, LLC to negative from stable and affirmed its long-term foreign-currency issuer default rating at BB+.

“The outlook revision to negative is due to the under-performance of ATP relative to Fitch's expectations during the past year. Challenges faced by the company include currency weakness, which has contributed to lower EBITDA, and a slower than expected build out of towers due to supply chain issues. ATP's ratings could be downgraded should net leverage sustain above 7x, or on lower profitability expectations,” the agency said in a press release.

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