S&P gives Crown Castle notes BBB

S&P said it assigned its BBB issue-level rating to Crown Castle Inc.'s coming sale of senior unsecured notes with amount and maturities to be determined.

The company will use the proceeds to repay debt under its commercial paper program, as well as to pay related fees and expenses.

“Our BBB issuer credit rating and stable outlook on Crown Castle are unchanged because the transaction is leverage neutral and will enable the company to bolster its liquidity position by freeing up capacity under its CP program, which totaled about $1.8 billion as of Sept. 30, 2023,” S&P said in a press release.

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