Moody's rates American Tower notes Baa3

Moody's Investors Service said it assigned a Baa3 rating to American Tower Corp.'s proposed $500 million senior unsecured notes offering due 2023 to be issued under the company's shelf registration, rated Baa3.

The outlook is stable.

The agency said American Tower's Baa3 senior unsecured rating reflects the company's stable cash flows, which are supported by contractual agreements with built-in annual escalations. It also recognizes the company's important role in wireless carriers' business models, very good liquidity and manageable leverage.

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