Following is a list of debt and financial ratings changes for wireless companies announced this week by financial firms.Merrill Lynch upgraded its view of the overall technology market from underweight to market weight, saying the firm's recent changes on the Internet and wireless sectors...
Following is a roundup of wireless companies that received ratings changes from financial services companies this week.JP Morgan lowered its rating on SpectraLink from neutral to underweight. The firm cited weak first-quarter results and second-quarter guidance along with three other factors for the downgrade....
Less than a month ago, I wrote a column about how the recent lull in wireless activity (mergers, etc.) was just the calm before the storm.Boom! Did you hear the thunder?What a week! Repercussions from wireless carrier consolidation reverberated throughout the industry, affecting wireless...
American Tower Corp. and SpectraSite Inc. announced they have agreed to merge in an $11.3 billion stock-for-stock transaction. The combination would create the largest tower company in North America with a site portfolio that exceeds 22,000 towers.The merger agreement calls for SpectraSite shareholders to...
In a record year for financial restatements, the wireless industry managed to stay relatively unsoiled. While other telecommunications, financial and manufacturing companies in 2004 faced various bookkeeping snafus, few wireless players were forced to dust off their financials. Nonetheless, there were a few accountants...
The following wireless companies had debt ratings changes by financial services firms this week.Standard & Poor's Ratings Services placed its ratings on four wireless tower companies on CreditWatch with positive implications. The companies are SpectraSite Inc., Crown Castle International Corp., AAT Communications Corp. and...
WASHINGTON-Legislation has been introduced in the North Carolina General Assembly that would overturn a fall protection provision in the state's tower-safety standard, further keeping on hold a rule considered too onerous by the tower industry. Had Rep. John Blust (R) not sponsored the bill,...
HOUSTON-Although they recorded increased revenues, two tower operators suffered net losses in their financial results for the fourth quarter of 2004 compared with the previous year. For the full year, American Tower Corp. and Crown Castle had better results. The two companies had postponed...
Although they recorded increased revenues, two tower operators suffered net losses in their financial results for the fourth quarter of 2004 compared with the previous year.For the full year, American Tower Corp. and Crown Castle had better results.In a written note, Raymond James noted...
NEW YORK-Once again, the tower operators are postponing their earnings releases for the fourth quarter. The major players, American Tower Corp., Crown Castle International and Global Signal Inc., said they are still reviewing their accounts.Others like SBA Communications and SpectraSite have not released their...
BOSTON-American Tower Corp. said it will postpone its 2004 earnings release for the second time to enable it to complete the year-end audit of the company.The company had earlier delayed the results release until today.The tower operator said it anticipates a loss of between...
WASHINGTON-North Carolina authorities confirmed they are investigating the death of a man who fell at least 100 feet from a cell-phone tower owned by Alltel Corp. and managed by American Tower Corp.An American Tower official said the company is conducting its own probe of...
BOSTON-American Tower Corp. said it will restate its previously issued financial statements for periods ending on or prior to Sept. 30 last year.It will affect the three-year period ended December31, 2003, and the first three fiscal quarters of 2004."The company will restate financial statements...
At long last, the tower deal causing months of speculation is etched on the record books. Global Signal Inc. has won the exclusive rights to lease or operate more than 6,600 towers from Sprint PCS for 32 years, sending Global's share price up 7.2...
The top two tower operators, Crown Castle International and American Tower Corp., plan to make non-cash adjustments to their financial statements in light of a Feb. 7 Securities and Exchange Commission letter. The two operators plan to release their quarterly results March 9.Crown Castle...
Sprint PCS tower assets are creating industry buzz again as the carrier affirmed it is talking with potential buyers. With its 6,200 towers up for sale, Sprint seems poised to get enough money to fund its merger with Nextel Communications Inc. and other technology...
NEW YORK-Standard & Poor's Ratings Services placed its ratings on American Tower Corp. on CreditWatch with positive implications. S&P said American Tower, which has a B- corporate credit rating, had $3.2 billion of total debt outstanding at the end of September 2004."The CreditWatch listing...
Nortel Networks Ltd. has set Jan. 10, 2005, as the date it will file the unaudited statements for 2003 as well as the first and second quarters of 2004. The wireless vendor also said it plans to update the world on results for 2001,...
BOSTON-American Tower Corp. said it closed the sale of its 7.125-percent senior notes due 2012 for a total of $200 million principal amount of notes.Net proceeds to the company from the sale are about $199.8 million. American Tower said it will use the proceeds...
Wireless tower owners continue to gain steam, as reflected in third-quarter financial results released last week by Crown Castle International Corp., Global Signal Inc., American Tower Corp. and SBA Communications Corp. Crown Castle's solid third-quarter earnings included site-rental revenues that reached $134 million, up...
American Tower Corp. and Global Signal Inc. continued the wave of solid third-quarter 2004 financial results from wireless tower companies. American Tower reported total revenues of $199.2 million and income from operations of $24.6 million, increased from $186.9 million and $12 million, respectively, a...
Crown Castle International Corp. posted solid third-quarter earnings results this week.Site rental revenues reached $134 million, up 11.6 percent from a year ago. U.S. site rental revenue alone made up $125.3 million of that, up 10.5 percent from the same period in 2003.Operating income...
Sprint Corp. Chairman and Chief Executive Officer Gary Forsee said last week that the company's highly anticipated sale of its more than 6,200 wireless towers could be completed by the end of this year, and that the company was moving aggressively on its deployment...
Sprint Corp. Chairman and Chief Executive Officer Gary Forsee said the company's highly anticipated sale of its more than 6,200 wireless towers could be completed by the end of this year and that the company is moving aggressively on its deployment of high-speed wireless...
