Tuesday, December 02, 2008

No Busy Signals at American Tower

American Tower (AMT-$25.43) is a leading owner and operator of communications sites for the wireless and broadcast industries, with more than 23,000 sites in the United States, Mexico, Brazil and India. Against the current credit backdrop, the company’s financial position remains solid relative to its publicly traded peers, Crown Castle Int’l and SBA Communications. In addition, the comparable, weighted average term of debt for American Towers, Crown Castle, and SBA was 5.2 years, 2.6 years, and 3.1 years, respectively, at September 30.

American Tower has approximately $600 million of liquidity and no material maturities until 2012. In the unlikely event that credit markets were to remain dislocated over the time period until these maturities occur in 2012, management believes that its operations would generate sufficient internal cash from operations to pay off
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Editor David J Phillips does not hold a financial interest in any stocks mentioned in this article. The 10Q Detective has a Full Disclosure Policy.

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