American Tower Corporation http://www.alacrastore.com/company-snapshot/American_Tower_Corporation-2018784 Monday, October 13, 2008 11:51:24 AM 2018784 American Tower Corporation en AlacraStore RSS Builder 1.0 30 http://www.alacrastore.com/storecontent/bir/553530bir/553530normAmerican Tower Corp.American Tower SystemsSpectraSite Inc.United StatesCommunications: Operates, manages, and leases broadcast and communications towers.489951791017FKAMT9/13/2008 6:41:07 AM553530Company Profiles & FinancialsGale Company Profileshttp://www.alacrastore.com/storecontent/spcred/669455spcred/669455normThe latest Summary from S&Pglobalstructured9/4/2008 1:16:33 PM175Summary669455United StatesWireless Telecommunication ServicesUnited StatesGlobal IssuersStructured FinanceCorporationsAsset-Backed SecuritiesTelecommunications & CableSummaryThe ratings on Boston-based communications tower operator American Tower Corp. reflect the promising prospects of its wireless tower leasing business, which we expect will generate increasingly stronger levels of net free cash flow after capital expenditures. Despite these very favorable business risk characteristics, which are supportive of American Tower's investment-grade business risk profile, the company's aggressive financial policy constrains the ratings. The company currently has board authorization to repurchase up to $1.5 billion of its common shares. Management also indicated that it is targeting a debt to EBITDA ratio of 4x-6x or in the mid-5x to 8x area, on an operating lease-adjusted basis, although the rating does not incorporate leverage exceeding the mid-6x level. American Tower's cash flows have aUSA02991250102010 501020 5010 50American Tower Corp.340574USAAMTSUMMARYGLOBISSSTRUCCORPABSTelecommunicationsCredit & Investment ResearchS&P Credit Researchhttp://www.alacrastore.com/storecontent/ccbn/B1900085ccbn/B1900085norm...In core Rental and Management division, revenue and GM increased ##% to $###m and $###m respectively from #Q##, included: ... 7/30/2008 12:06:00 PMAmerican Tower Corp.54.0000EditedAmerican Tower Corp. Q2 2008 Earnings Conference Call SummaryAMT8:30am ETBriefB1900085Credit & Investment ResearchThomson StreetEventshttp://www.alacrastore.com/storecontent/ccbn/T1900085ccbn/T1900085norm...Good morning. My name is Julie and I will be your conference operator today. At this time, I would like to welcome everyone to the American Tower second quarter #### earnings conference call. All lines have been placed on mute to prevent any background noise. After the speakers' remarks, there will be a question-and-answer session. (OPERATOR INSTRUCTIONS). Thank you.I would now like to turn the call over to Mr. Michael Powell, Vice President of Investor Relations. Sir, you may begin your conference.... 7/30/2008 10:06:00 AMAmerican Tower Corp.54.0000FinalAmerican Tower Corp. Q2 2008 Earnings Conference Call TranscriptAMT8:30am ETTranscriptT1900085Credit & Investment ResearchThomson StreetEventshttp://www.alacrastore.com/storecontent/fitch/394404_report_framefitch/394404_report_framepdfFitch Ratings is a leading global rating agency committed to providing the world's credit markets with independent, timely and prospective credit opinions. Built on a foundation of organic growth and strategic acquisitions, Fitch Ratings has grown rapidly during the past decade gaining market presence throughout the world and across all fixed income markets.American Tower CorporationBally Technologies IncEl Paso CorporationEntergy Gulf States, Inc.Entergy Texas Inc.McClatchy CompanyThe Interpublic Group of Cos., Inc.Toys R Us, Inc.800898948009010380090559804171798145947881851587824313098344446884933873871153857/25/2008 6:31:00 PM0102000001020100010300000103030001030400010307000103210001070000275NewsletterAMTBYIEPIPGMNI394404_report_frameCredit & Investment ResearchFitch Researchhttp://www.alacrastore.com/storecontent/fitch/426528_pr_framefitch/426528_pr_framehtmlFitch Ratings is a leading global rating agency committed to providing the world's credit markets with independent, timely and prospective credit opinions. Built on a foundation of organic growth and strategic acquisitions, Fitch Ratings has grown rapidly during the past decade gaining market presence throughout the world and across all fixed income markets.American Tower Corporation814594787/18/2008 10:20:00 AM010304000103000085Press ReleaseAMT426528_pr_frameCredit & Investment ResearchFitch Researchhttp://www.alacrastore.com/storecontent/newstex/BW-0001-26762153newstex/BW-0001-26762153xml Jul. ##, #### (Business Wire) -- Fitch Ratings has affirmed American Tower Corporation's (NYSE: AMT) long-term Issuer Default Rating (IDR) and senior unsecured ratings at 'BB+'. The Rating Outlook is Stable. AMT's ratings are underpinned...040000000401800004019000040090000400900104016000040160097/18/2008 10:18:13 AM18000000180240001800900018011000Business WireBW-0001-26762153AMERICAN TOWER CORPAMTNewsNewstexhttp://www.alacrastore.com/storecontent/newstex/BW-0001-26653789newstex/BW-0001-26653789xml Jul. ##, #### (Business Wire) -- American Tower Corporation (NYSE:AMT) announced today that the press announcement of its second quarter #### results is scheduled to be released to the news services at #:## a.m. ET on July ##, ####....040000000401600004016048040160187/14/2008 6:17:29 PM180000001800400018008000Business WireBW-0001-26653789AMERICAN TOWER CORPAMTNewsNewstexhttp://www.alacrastore.com/storecontent/fitch/420906_pr_framefitch/420906_pr_framehtmlFitch Ratings is a leading global rating agency committed to providing the world's credit markets with independent, timely and prospective credit opinions. Built on a foundation of organic growth and strategic acquisitions, Fitch Ratings has grown rapidly during the past decade gaining market presence throughout the world and across all fixed income markets.360 Communications CompanyALLTEL CorporationAmerican Tower CorporationAT&T CorpAT&T Inc.BellSouth CorporationBellSouth Telecommunications Inc.CenturyTel, Inc.Charter Communications, Inc.Cincinnati Bell Telephone CompanyCitizens Communications CompanyComcast Cable Holdings, LLCComcast CorporationIntelsat LtdLevel 3 Communications, Inc.Mediacom Communications CorporationNEXTEL Communications, Inc.NYNEX CorporationQwest CorporationSBC Communications Capital CorporationSpectrasite Communications, Inc.Sprint Nextel CorpTelephone & Data Systems, Inc.United States Cellular CorporationVerizon Communications, Inc.8008892080089223800896838008996180090180800902278009056080090663800909178009100580091035800910488009115080091163800912788009131280091426800917178009209880417179806650228119963581371472814163088145947881770498821940555/19/2008 2:14:00 PM0103000001030400010307000104000085Press ReleaseAMTCHTRCMCSACTLCZNLVLTMCCCSTTDSUSMVZ420906_pr_frameCredit & Investment ResearchFitch Researchhttp://www.alacrastore.com/storecontent/fitch/420691_pr_framefitch/420691_pr_framehtmlFitch Ratings is a leading global rating agency committed to providing the world's credit markets with independent, timely and prospective credit opinions. Built on a foundation of organic growth and strategic acquisitions, Fitch Ratings has grown rapidly during the past decade gaining market presence throughout the world and across all fixed income markets.360 Communications CompanyAmerican Tower CorporationAT&T CorpAT&T Inc.BellSouth CorporationBellSouth Telecommunications Inc.Cablevision Systems CorporationCenturyTel, Inc.Charter Communications Holdings, LLCCharter Communications Operating, LLCCharter Communications, Inc.Cincinnati Bell Inc.Cincinnati Bell Telephone CompanyCitizens Communications CompanyComcast Cable Communications Holdings, Inc.Comcast Cable Communications Inc.Comcast CorporationEchostar DBS CorporationInsight Communications Company, Inc.Intelsat LtdLevel 3 Communications, Inc.Mediacom Communications CorporationNEXTEL Communications, Inc.NYNEX CorporationQwest CorporationSBC Communications Capital CorporationSpectrasite Communications, Inc.Sprint Nextel CorpTelephone & Data Systems, Inc.United States Cellular CorporationVerizon Communications, Inc.800889208008968380089961800901808009022780090560800906638009091780091035800910478009104880091150800911638009127880091312800914268009144380091717800920988036088380361460804171798066502281066831811060318119963581199641811996618137147281416308814594788160946881770498821940555/15/2008 6:28:00 PM010300000103040001030700010400000107000085Press ReleaseAMTCBBCHTRCMCSACTLCVCCZNLVLTMCCCSTTDSUSMVZ420691_pr_frameCredit & Investment ResearchFitch Researchhttp://www.alacrastore.com/storecontent/ccbn/B1829197ccbn/B1829197norm...In core Rental and Management Division, Co.'s revenue and GM increased #% and #% to $###m and over $###m respectively from #Q##. ... 5/2/2008 2:05:00 PMAmerican Tower Corp.54.0000EditedQ1 2008 American Tower Corp. Earnings Conference Call SummaryAMT8:30am ETBriefB1829197Credit & Investment ResearchThomson StreetEventshttp://www.alacrastore.com/storecontent/ccbn/T1829197ccbn/T1829197norm...Good morning. My name is Danielle and I will be your conference operator today. At this time, I would like to welcome everyone to the American Tower Corporation first quarter #### earnings conference call. All lines have been placed on mute to prevent any background noise. After the speakers' remarks there will be a question-and-answer session. (OPERATOR INSTRUCTIONS) Thank you. ... 5/2/2008 10:05:00 AMAmerican Tower Corp.54.0000FinalQ1 2008 American Tower Corp. Earnings Conference Call TranscriptAMT8:30am ETTranscriptT1829197Credit & Investment ResearchThomson StreetEventshttp://www.alacrastore.com/storecontent/fitch/415798_pr_framefitch/415798_pr_framehtmlFitch Ratings is a leading global rating agency committed to providing the world's credit markets with independent, timely and prospective credit opinions. Built on a foundation of organic growth and strategic acquisitions, Fitch Ratings has grown rapidly during the past decade gaining market presence throughout the world and across all fixed income markets.360 Communications CompanyALLTEL CorporationAmerican Tower CorporationAT&T CorpAT&T Inc.BellSouth CorporationBellSouth Telecommunications Inc.CenturyTel, Inc.Cincinnati Bell Telephone CompanyCitizens Communications CompanyEchostar DBS CorporationIntelsat LtdLevel 3 Communications, Inc.MCI, Inc.NEXTEL Communications, Inc.NYNEX CorporationQwest CorporationSBC Communications Capital CorporationSpectrasite Communications, Inc.Sprint Nextel CorpTelephone & Data Systems, Inc.United States Cellular CorporationVerizon Communications, Inc.8008892080089683800899618009018080090227800905608009066380090917800910058009104880091150800911638009127880091312800914268009171780092098812016968137147281416308814594788160946881770498821940554/2/2008 2:14:00 PM01030000010304000104000085Press ReleaseAMTCTLCZNLVLTSTTDSUSMVZ415798_pr_frameCredit & Investment ResearchFitch Researchhttp://www.alacrastore.com/storecontent/fitch/380444_report_framefitch/380444_report_framepdfFitch Ratings is a leading global rating agency committed to providing the world's credit markets with independent, timely and prospective credit opinions. Built on a foundation of organic growth and strategic acquisitions, Fitch Ratings has grown rapidly during the past decade gaining market presence throughout the world and across all fixed income markets.American Tower CorporationClear Channel Communications, Inc.Insight Communications Company, Inc.Insight Midwest Holdings, LLCInsight Midwest, L.P.Tampa Electric CompanyTECO Energy, Inc.Tenet Healthcare Corporation8008936980417179804642748046427581066831810670318106723581393454814594783/28/2008 6:31:00 PM0102000001020100010208000103000001030400010307000103170001040000275NewsletterAMTCCUTETHC380444_report_frameCredit & Investment ResearchFitch Researchhttp://www.alacrastore.com/storecontent/moodys/COP_600050369moodys/COP_600050369htmlGlobal Credit Research Credit Opinion ## MAR #### Credit Opinion: American Tower Corporation American Tower Corporation Boston, Massachusetts, United States Ratings Category Moody's Rating Outlook Stable Corporate Family Rating Ba#...Credit Opinion3/25/2008 4:52:52 PMAmerican Tower Corporation600050369150.0000NewshtmlAmerican Tower CorporationCOP_600050369Credit & Investment ResearchMoody's Global Credit Researchhttp://www.alacrastore.com/storecontent/moodys/PR_151542_600050369moodys/PR_151542_600050369htmlGlobal Credit Research Rating Action ## MAR #### Rating Action: American Tower Corporation Moody's Rates American Tower's Term Loan Ba# Approximately $#.# billion of debt securities affected New York, March ##, #### -- Moody's Investors...Rating Action3/25/2008 12:29:02 AMAmerican Tower Corporation600050369150.0000NewshtmlAmerican Tower CorporationPR_151542_600050369Credit & Investment ResearchMoody's Global Credit Researchhttp://www.alacrastore.com/storecontent/spcred/638261spcred/638261normThe latest News from S&P3/24/2008 3:36:03 PMNews100structuredglobal638261United StatesWireless Telecommunication ServicesUnited StatesStructured FinanceGlobal IssuersCorporationsAsset-Backed SecuritiesTelecommunications & CableNewsNEW YORK (Standard&Poor's) March 24, 2008--Standard&Poor's Ratings Services today assigned its issue and recovery ratings to Boston, Mass.-based communications tower operator American Tower Corp.'s $325 million unsecured term loan facility. The assigned issue rating is 'BB+', the same as the corporate credit rating, with a recovery rating of '3', indicating expectations for meaningful (50%-70%) recovery in the event of a payment default. (For the complete recovery analysis, see "Recovery Report: American Tower Corp.'s Recovery Rating Profile," to be published on RatingsDirect immediately following the release of this report.) The existing ratings on the company's outstanding unsecured debt issues remain unchanged. Although numerically our analysis indicates recovery in the 90%-100% range, the recovery rating has been cappedUSA02991250102010 501020 5010 50American Tower Corp.340574USAAMTNEWSSTRUCGLOBISSCORPABSTelecommunicationsCredit & Investment ResearchS&P Credit Researchhttp://www.alacrastore.com/storecontent/fitch/413632_pr_framefitch/413632_pr_framehtmlFitch Ratings is a leading global rating agency committed to providing the world's credit markets with independent, timely and prospective credit opinions. Built on a foundation of organic growth and strategic acquisitions, Fitch Ratings has grown rapidly during the past decade gaining market presence throughout the world and across all fixed income markets.ALLTEL CorporationAmerican Tower CorporationAT&T CorpBellSouth CorporationCenturyTel, Inc.Cincinnati Bell Telephone CompanyCitizens Communications CompanyEchostar DBS CorporationIntelsat LtdLCI International, Inc.Level 3 Communications, Inc.NEXTEL Communications, Inc.NYNEX CorporationSBC Communications Capital CorporationSpectrasite Communications, Inc.Sprint Nextel CorpTelephone & Data Systems, Inc.United States Cellular CorporationVerizon Communications, Inc.80088920800896838009018080090203800902278009066380090917800910058009104880091163800912788009142680091717800920988041717981416308814594788160946881770498821940553/24/2008 2:11:00 PM01030000010304000104000085Press ReleaseAMTCTLCZNLVLTSTDSUSMVZ413632_pr_frameCredit & Investment ResearchFitch Researchhttp://www.alacrastore.com/storecontent/fitch/413592_pr_framefitch/413592_pr_framehtmlFitch Ratings is a leading global rating agency committed to providing the world's credit markets with independent, timely and prospective credit opinions. Built on a foundation of organic growth and strategic acquisitions, Fitch Ratings has grown rapidly during the past decade gaining market presence throughout the world and across all fixed income markets.American Tower Corporation814594783/24/2008 10:11:00 AM010300000103040085Press ReleaseAMT413592_pr_frameCredit & Investment ResearchFitch Researchhttp://www.alacrastore.com/storecontent/spcred/634014spcred/634014normThe latest Full Report from S&P3/5/2008 1:12:06 PMFull Report400structuredglobal634014United StatesWireless Telecommunication ServicesUnited StatesStructured FinanceGlobal IssuersCorporationsAsset-Backed SecuritiesTelecommunications & CableFull ReportFavorable business characteristics, including criticality to wireless operations, good revenue stability, high switching costs for customers, substantial barriers to entry, and low technology risk; High operating leverage, providing relatively rapid improvement in margins with additional tenant contracts; Very limited ongoing maintenance capital expenditure requirements; and Limited exposure to wireless consolidation, given the limited network overlap of consolidating carriers and the fact that any such losses would be more than offset by additional lease commitments to support higher capacity requirements. High degree of financial leverage with debt to annualized EBITDA at about 5.5x for the third quarter of 2007, including operating lease adjustments and excluding noncash compensation expense. Uncertainty about the direction of future financial policy. As tenant tower colocation slowsUSA02991250102010 501020 5010 50American Tower Corp.340574USAAMTFULLUSA17248R15115F8520618520P38520P292344S50102010 501020 5010 50AT&T Mobility II, LLCSprint Nextel Corp.Cellco Partnership (d/b/a Verizon Wireless)358204347401102459EUROMIDAFRASIALATAMERICAEMERGINGUSAFONVZW24004ZSTRUCGLOBISSCORPABSTelecommunicationsCredit & Investment ResearchS&P Credit Research