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TEXT-S&P rates CC Holdings GS V notes 'BB'
December 11, 2012 / 4:40 PM / 5 years ago

TEXT-S&P rates CC Holdings GS V notes 'BB'

Dec 11 - Standard & Poor's Ratings Services said today that it assigned its
'BB' issue level rating and '1' recovery rating to Crown Castle International
Corp.'s (B+/Stable/--) subsidiary CC Holdings GS V LLC's proposed notes
issuances. The issuances total $1.5 billion, and consist of $1 billion due 2023
and $500 million due 2017. CC Holdings will use the proceeds to complete a
tender for existing notes at the entity, as well as to repay indebtedness at
parent Crown Castle International Inc. 

The corporate credit rating and stable outlook on Crown Castle remain 
unchanged and reflect the company's "strong" business risk profile and "highly 
leveraged" financial risk profile. 


Crown Castle International Corp.
 Corporate Credit Rating           B+/Stable/--

CC Holdings GS V LLC
Crown Castle GS III Corp.
 $500 mil notes due 2017           BB
   Recovery Rating                 1
 $1 bil notes due 2023             BB
   Recovery Rating                 1

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