Moody's confirms TowerCo

Moody's Investors Service said it affirmed the B1 corporate family rating of TowerCo II Holdings LLC.

The outlook remains stable.

Moody's said the affirmation follows the company's re-pricing transaction that would lower the interest spread on the company's existing term loan facility due 2017.

The company is expected to save about $3 million in interest expense each year and this would aid the company's free cash flow generation, the agency said.

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