Fitch rates American Tower notes BBB+

Fitch Ratings said it assigned BBB+ ratings to American Tower Corp.’s offering of $800 million of 1.875% senior unsecured notes due in 2030 and $300 million of added 3.1% senior unsecured notes due 2050 under the same terms as the $750 million of 3.1% senior unsecured notes due 2050 issued June 3.

Proceeds will be used to repay debt, including borrowings under the company’s 2019 revolving credit facility and the April 2020 term loan, which matures next April.

After repaying some borrowings, the 2019 RCF will have about $392 million outstanding, and American Tower will have fully repaid the April 2020 term loan.

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