Moody's affirmed its ratings on American Tower Corp., including its Baa3 senior unsecured rating, with a stable outlook.
The action is based on the rating agency's expectation that the communications-focused real estate investment trust's operating performance will continue to be robust in the next 12 to 18 months and its net debt/EBITDA will stay in the 5x to 6x range.
The stable outlook factors in Moody's expectation that the REIT will sustain leverage under 6x even as it focuses on continued growth via acquisitions; maintain strong liquidity; and balance the interests of creditors and equity holders.
