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Moody's Says Crown Castle's Ratings Unaffected by Proposed T-Mobile Acquisition
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Moody's Investors Service said Crown Castle's debt ratings and stable outlook are not affected by the recent announcement that it has agreed to acquire the rights to lease and operate approximately 7,180 towers from T-Mobile USA for $2.4 billion in cash.
With headquarters in Houston, Texas, Crown Castle International Corp., through its wholly-owned operating subsidiaries, is the largest independent operator of wireless tower assets in the United States.
The firm derives approximately 88% of its revenue by leasing site space on its approximately 24,315 towers and distributed antenna systems ("DAS") networks in the US and Australia to wireless service providers, with the remaining revenue derived from its services business, which provides network services relating to sites or wireless infrastructure for customers.
Tags: [crown castle] [t-mobile usa] [USA]
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