S&P upgrades Crown Castle to BB+

Standard & Poor's said it raised the corporate credit rating on Crown Castle International Corp. to BB+ from BB and raised all issue-level ratings on Crown and its subsidiaries by one notch.

The outlook is stable.

"The upgrade reflects our expectations that leverage will continue to decline, absent meaningful acquisitions, and will most likely be sustained below 7x over the next few years," S&P credit analyst Catherine Cosentino said in a news release.

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