Moody’s Investor Services announced on Monday, October 5 that it had upgraded debt ratings for both American Tower Corporation and Crown Castle International Corp.
American Tower’s senior unsecured debt rating was raised from Ba1 to Baa3. Moody’s noted Amercian Tower’s “strong operating performance, significant deleveraging and strong cash flow growth” over the past two years in announcing it’s decision to make the upgrade.
Crown Castle’s corporate family rating was raised from Ba3 to Ba2. The upgrade was said to reflect the “strength in [Crown Castle’s] financial and operational performance that is expected to continue over the rating horizon.”
The American Tower upgrade is particularly significant as the new rating classifies the company’s senior unsecured debt as investment grade. In discussing the decision to upgrade American Tower, Moody’s noted its belief that the business outlook of the wireless tower sector is likely to remain favorable through the next several years.
American Tower, Crown Castle debt ratings upgraded by Moody’s: Moody’s: Wireless tower sector outlook likely to remain favorable through the next several years
ABOUT AUTHOR
Jump to Article
What infra upgrades are needed to handle AI energy spikes?
AI infra brief: Power struggles behind AI growth
The IEA report predicts that AI processing in the U.S. will need more electricity than all heavy industries combined, such as steel, cement and chemicals
Energy demand for AI data centers in the U.S. is expected to grow about 50 gigawatt each year for the coming years, according to Aman Khan, CEO of International Business Consultants
AI infra brief: Power struggles behind AI growth
The IEA report predicts that AI processing in the U.S. will need more electricity than all heavy industries combined, such as steel, cement and chemicals
Energy demand for AI data centers in the U.S. is expected to grow about 50 gigawatt each year for the coming years, according to Aman Khan, CEO of International Business Consultants