Standard & Poor’s maintained its B+ corporate credit rating on...
Standard & Poor’s maintained its B+ corporate credit rating on SBA, following the company’s announcement it’s acquiring TowerCo for $1.45 billion in cash and stock (CD June 27 p8). “SBA’s acquisition of TowerCo’s wireless towers will result in higher leverage…
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than we had previously expected, but” the “combined company’s solid cash flow generation will enable leverage to decline in 2013 to a level we consider appropriate for the rating,” S&P said.