S&P: American Tower, units on watch positive

Standard & Poor's said it placed its ratings on American Tower Corp., including the B- corporate credit rating, and related subsidiaries on CreditWatch positive.

Also on watch are American Tower Corp.'s CCC senior unsecured debt, American Towers Inc.'s CCC subordinated debt and American Tower LLC's B rated secured bank loan.

S&P said the CreditWatch listing reflects the expectation that the company will continue to grow its tower co-locations and associated tower operating cash flows over the next several years.

While such growth provides the potential for meaningful debt reduction, S&P said a key rating determinant will be the company's financial policy.

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