Following are changes in wireless company ratings reported by financial services and investment banking firms this week.Standard & Poor's Ratings Services said Sprint Corp. and Nextel Communications Inc. remain on CreditWatch with positive implications based on operating and financial improvement. Raymond James downgraded Crown...
BOSTON-American Tower Corp. and SpectraSite Inc. announced Wednesday that their respective stockholders have approved the transaction for the companies to merge. The companies expect the merger to close on or about Aug. 8.In the deal, the two companies agreed to a stock-for-stock exchange, whereby...
CARY, N.C.-TowerCo Inc., a wireless tower owner, announced it has secured a $35 million senior credit facility from CapitalSource Finance L.L.C. and plans to use the three-year, cash flow-based loan to fund an aggressive growth spurt. The company said it wants to expand from...
Crown Castle International Corp. announced its second-quarter earnings, reporting a net loss of $227.5 million, which includes $198.5 million in losses caused by the early retirement of debt. Last year, the company reported a net loss of $50.8 million during the second quarter. Net...
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...
NEW YORK-Two of the nation's largest tower operators posted second-quarter losses despite increasing revenues as they continued to move toward a pending merger. SpectraSite Inc. reported a net loss of $1.4 million, or 3 cents per share, during the quarter, compared with a net...
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...
Two of the nation's largest tower operators posted second-quarter losses despite increasing revenues as they continued to move toward a pending merger. SpectraSite Inc. reported a net loss of $1.4 million, or 3 cents per share, during the quarter, compared with a net profit...
PORTLAND, Ore.-Legacy Wireless Towers L.L.C., a subsidiary of Legacy Wireless Services Inc., said it acquired seven existing tower sites in the Portland, Ore., metropolitan market. The seven existing tower sites were selected from a portfolio of towers offered by a wireless carrier. Legacy said...
BOSTON-American Tower Corp. announced it has completed its previously announced redemption of $75 million principal amount of its 9.375-percent senior notes due 2009. The company redeemed the notes pursuant to their terms at 104.688-percent of the principal amount plus unpaid and accrued interest up...
PORTLAND, Ore.-Legacy Wireless Towers L.L.C., a subsidiary of Legacy Wireless Services Inc., said it acquired seven existing tower sites in the Portland, Ore., metropolitan market. The seven existing tower sites were selected from a portfolio of towers offered by a wireless carrier.Legacy said a...
Crown Castle International Corp. announced it plans to acquire 467 towers from TrinTel Communications Inc., based in Irving, Texas, for about $145 million in cash. The acquisition of the towers is expected to close on or about Aug. 1. TrinTel's portfolio produces about $14.4...
GOLDEN, Colo.-RCR Wireless News is pleased to announce it has hired Joni Morse as a reporter covering the wireless infrastructure beat, including the tower industry. Morse comes to the publication with more than 10 years experience in communications and telecom from various positions held...
Following is a list of wireless companies that were cited in financial reports from investment banking and financial services firms this week.Pacific Growth Equities upgraded its rating on RF Micro Devices from equal weight to overweight on expectations of higher revenues generated by new...
HOUSTON-Crown Castle International Corp. announced it has entered into an agreement to acquire 467 towers from TrinTel Communications, Inc., based in Irving, Texas, for about $145 million in cash. The acquisition of the towers is expected to close on or about Aug. 1.TrinTel's portfolio...
Following are ratings changes and financial information on wireless companies from financial services and investment banking firms announced this week. Nortel, AAT, UTStarcom, Alvarion, Intrado and others mentioned.Standard & Poor's Ratings Services raised its corporate credit rating on tower company AAT Communications Corp. to...
Regional wireless operator Dobson Communications Corp. reported that its subsidiaries Dobson Cellular Systems Inc. and American Cellular Corp. completed the sale of 507 cellular towers to Global Tower Partners for $77 million. Dobson Cellular received $46.1 million for 323 towers, and American Cellular received...
AT&T Corp. is reportedly set to begin testing a wireless broadband network in the Atlanta area using an early version of WIMAX technology. AT&T, which is in the process of being acquired by SBC Communications Inc., will use four towers in the Atlanta and...
American Tower Corp. announced a call for redemption of $75 million principal amount of its 9.375-percent senior notes due 2009. The redemption date is set for July 21. The notes will be redeemed at a price equal to 104.688 percent of the principal amount,...
BOSTON-American Tower Corp. announced a call for redemption of $75 million principal amount of its 9.375-percent senior notes due 2009.The redemption date is set for July 21. The notes will be redeemed at a price equal to 104.688 percent of the principal amount, as...
WASHINGTON-The lawyer for a former cell-phone programmer in California said a settlement totaling $180,000 was reached on a worker's compensation claim that alleged Sharesa Price's brain cancer was caused by her workplace. Price joined Advance Communications Systems-a small Northern California firm affiliated with U.S....
Boston Communications Group Inc. said it will contest a class-action suit brought by some shareholders in the wake of last month's $128 million patent-infringement verdict. The new suit seeks unspecified damages against the wireless network access management and back-end services provider, claiming among other...
The following wireless companies had ratings changes or information notes from financial services and investment banking firms this week.Robert W. Baird made several changes within its telecom coverage universe following the Supercomm show this week in Chicago. In general, the firm said news out...
HOUSTON-Crown Castle International Corp. completed the sale of its previously announced offering of $1.9 billion of senior secured tower revenue notes, series 2005-1, in a private transaction.The notes include five investment-grade classes with a weighted average interest rate of about 4.89 percent.Ben Moreland, chief...
