TEXT-S&P rates SBA Communications

Sept 14 - Standard & Poor's Ratings Services said today that it assigned its 'BB' issue-level rating and '1' recovery rating to SBA Senior Finance II LLC's proposed $300 million term loan, a new tranche to be added to the company's existing $495 million term loan B. The company will use the proceeds to partly fund the cash portion of the pending TowerCo acquisition, which we expect to be completed before the end of 2012. There is no change in the existing ratings on parent SBA Communications Cor