S&P: Crown Caste stable

Standard & Poor's said it revised its outlook on Crown Castle International Corp. to stable from positive as a result of the company's announced agreement to acquire rights to T-Mobile's 7,200 towers in a debt-financed transaction valued at about $2.4 billion.

At the same time, the agency said it affirmed all of Crown's ratings, including the B+ corporate credit rating.

"The outlook revision reflects our view that there is no longer a one-third probability of an upgrade given the additional debt associated with the acquisition," said S&P credit analyst Catherine Cosentino in a news release.

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