WESTBOROUGH, Mass.-Tower company Optasite Inc. announced it obtained a new $65 million credit facility. The company said GE Capital Markets Inc. led the financing arrangements.GE Capital Markets was also the lead financer of SBA Communications Corp.'s recently announced $160 million credit facility. SBA is...
BOCA RATON, Fla.-The nation's fifth largest tower company, SBA Communications Corp., said it obtained a $160 million credit facility. GE Capital Markets Inc. led the financing arrangements.SBA noted the new facility replaces its prior facility, which became the mortgage loan underlying its recent $405...
The following list includes ratings changes and financial information for wireless companies announced this week by investment-banking and financial-services firms.CarriersFitch Ratings placed Telephone and Data Systems Inc. and United States Cellular on Ratings Watch Negative following the announcement that TDS intends to restate its...
The following list includes ratings changes and financial information for wireless companies announced this week by investment-banking and financial-services firms.
Tower giant Crown Castle International Corp. said it's considering whether it should hang onto its 77.6-percent ownership in Crown Castle Australia, which is Australia's largest tower operator with 1,387 towers.CCI has asked UBS Investment Bank to act as its advisor as it reviews its...
Most wireless communications towers were able to remain at least upright through Katrina's wrath. Power and telecommunications facilities sustained widespread damage from water in some of the hardest-hit areas, but for the most part, the towers themselves weathered the storm and are intact. "We...
Following is information on wireless companies that had ratings changes and other news from investment banking and financial services firms this week.Moody's Investors Service Inc. upgraded the long-term senior unsecured debt ratings of Sprint Corp. and Sprint Capital Corp. as well as the ratings...
As tower companies' second-quarter earnings begin to roll in, three firms posted net losses last week, but industry analysts said the companies are on the right track and most rate the stocks as strong buys. In addition, a merger proposal between two tower firms...
BOCA RATON, Fla.-SBA Communications Corp. announced its second-quarter results Monday, reporting revenues of $63.2 million, a 12.2-percent increase from the second quarter of 2004 when the company reported revenues of $56.3 million. However, the firm reported a net loss of $26.3 million, or 38...
Kristen BeckmanFollowing are ratings changes and other financial information for wireless companies announced this week by investment banking and financial firms.CIBC raised its estimates on Powerwave Technologies Inc. following the company's strong second-quarter report. CIBC said it expects revenues and earnings per share for...
BOCA RATON, Fla.-SBA Communications Corp. extended its pending exchange offer for all $250 million of its outstanding series of 8.5-percent senior notes due 2012.The expiration date, originally scheduled for May 26, has been extended to June 2. As of the end of the day...
BOCA RATON, Fla.-Tower company SBA Communications Corp. reported increasing revenues and a shrinking net loss, news that sparked its shares up slightly to $8.50 per share. The company purchased 51 towers during the quarter, bringing its total number of towers to 3,113."Once again, we...
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...
BOCA RATON, Fla.-Tower operator SBA Communications Corp. announced a fourth-quarter net loss of $41.8 million, or 66 cents per share, compared with a net loss of $52.8 million or 98 cents per share in the same period last year.The company, which has adjusted its...
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...
With carriers focusing on network efficiency, tower companies are not expected to yield any immediate benefits from the anticipated merger between Sprint PCS and Nextel Communications Inc., according to analysts. In a few years, however, SpectraSite Inc. may reap some financial gains if and...
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...
BOCA RATON, Fla.-SBA Communications Corp. wrapped up this week's round of earnings results from wireless tower companies. The company said it garnered total revenues of $58.7 million, up from $47.6 million a year ago. Of that, site-leasing revenues made up $37 million and site-development...
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...
BOCA RATON, Fla.-SBA Communications Corp. named Duncan Cocroft and Philip Hawkins to its board of directors, expanding the company's number of directors to eight.Duncan retired last year after serving as Cendant Corp.'s executive vice president, finance and treasurer, and Hawkins is currently president and...
Change has been afoot in the wireless tower industry. In the past 18 months, two of the industry's five public players have gone through bankruptcy and returned, businesses have been divested and restructured, and stock valuations have fallen and risen like the tides. Meanwhile,...
Four of the five publicly traded wireless communications tower firms reinforced notions that this year would be a better one for the sector in their second-quarter 2004 financial results, released last week.In addition to its improved second-quarter results, SpectraSite Inc. announced the search is...
Global Signal Inc. will acquire 235 wireless communications towers from private tower venture Lattice Communications L.L.C. for $115 million.The towers are primarily located in Indiana, Ohio, Alabama, Kansas and Georgia. The towers' tenants include the top six wireless carriers and subsidiaries of Cinergy Corp.,...
Crown Castle International Corp. last week confirmed it is selling its U.K. business, including 3,600 tower sites, to British utility company National Grid Transco plc for $2.035 billion cash."The price fully values the U.K. business plan," said Ben Moreland, Crown's chief financial officer. "We...
