NEW YORK-Standard & Poor’s Ratings Services assigned a “B-” rating to the proposed $1.6 billion senior secured credit facility of Crown Castle Operating Co., a wholly owned subsidiary of Crown Castle International Corp. S&P also affirmed its “B-” corporate credit rating on Crown Castle International and revised its outlook on the company to stable from negative.
“The outlook revision reflects improvement in Crown Castle’s liquidity prospects that will result from the company gaining full access to CCUK’s moderate free cash flows following the refinancing of CCUK debt,” explained S&P credit analyst Michael Tsao in an analyst note.
