Crown Castle Rating Affirmed at BBB-; Outlook Stable on Solid Organic Growth Prospects - Morningstar Credit Research

Crown Castle Rating Affirmed at BBB-; Outlook Stable on Solid Organic Growth Prospects

Crown Castle Rating Affirmed at BBB-; Outlook Stable on Solid Organic Growth Prospects - Morningstar Credit Research
Crown Castle Rating Affirmed at BBB-; Outlook Stable on Solid Organic Growth Prospects
Published Dec 30, 2016
12 pages — Published Dec 30, 2016
Price US$ 350.00  |  Buy this Report Now

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Brief Excerpt:

...Our BBB- rating on Crown Castle reflects the company s stable business model and growing cash flow, offset by high near-term cash obligations and an aggressive dividend growth plan. Our moderate Business Risk score is supported by the company s strong competitive position as one of the three largest tower operators. With its collection of DAS and small- cell assets, Crown Castle offers carriers a more diverse set of networking capabilities, compared with its peers. Meanwhile, the company s Cash Flow Cushion and Solvency remain pressured by high debt levels. Morningstar, Inc. assigns the company a narrow economic moat, supported by its efficient scale advantage and high customer switching costs. Pro forma for its pending $1.5 billion acquisition of FiberNet, Crown Castle will manage a portfolio encompassing 40,000 antenna nodes and 28,500 route miles of fiber backhaul capacity. We still view customer concentration as the largest business risk for tower operators. The four major U.S. wireless...

  
Source:
Document ID
0C00000AT4_20161230_CREDIT
Ticker
CCI=US
Primary ISIN
Primary Sedol
BTGQCX1
Format:
PDF Adobe Acrobat
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MLA:
Morningstar Credit Research. "Crown Castle Rating Affirmed at BBB-; Outlook Stable on Solid Organic Growth Prospects" Dec 30, 2016. Alacra Store. Sep 22, 2019. <http://www.alacrastore.com/storecontent/Morningstar-Credit-Research/Crown-Castle-Rating-Affirmed-at-BBB-Outlook-Stable-on-Solid-Organic-Growth-Prospects-2137-33809>
  
APA:
Morningstar Credit Research. (2016). Crown Castle Rating Affirmed at BBB-; Outlook Stable on Solid Organic Growth Prospects Dec 30, 2016. New York, NY: Alacra Store. Retrieved Sep 22, 2019 from <http://www.alacrastore.com/storecontent/Morningstar-Credit-Research/Crown-Castle-Rating-Affirmed-at-BBB-Outlook-Stable-on-Solid-Organic-Growth-Prospects-2137-33809>
  
US$ 350.00
$  £  
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