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Moody's revises American Tower's outlook

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Moody's revises American Tower's outlook

Moody's revised AmericanTower Corp.'s ratings outlook to stable from negative.

At the same time, the rating agency affirmed the REIT's seniorunsecured rating at Baa3and senior unsecured shelf rating at (P)Baa3.

According to Moody's, the shift in the ratings outlook acknowledgesthe company's improvement in leverage, "seamless integration" of recentpurchases, "robust" cash flows and Moody's expectation that although acquisitive,American Tower will operate within its stated net leverage target range of below5x going forward.

The company's Baa3 senior unsecured rating, meanwhile, reflectsits strong cash flows, supported by its profitable business, wide geographic footprint,good liquidity and high visibility into future earnings owing to long-term noncancellabletenant leases with contractual rent escalators, Moody's added.