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April 10, 2012 at 17:50 PM EDT
TEXT-S&P assigns SBA Communications loan 'BB' Rtg
Overview -- U.S. wireless communications tower operator SBA Communications Corp. recently completed its acquisition of Mobilitie LLC for $850 million in cash and 5.25 million shares of SBA stock. -- Pro forma debt to EBITDA is likely to be around 9x, including our adjustments, and we expect leverage to decline to around 8x by the end of 2012. -- We are affirming our 'B+' corporate credit rating on SBA, along with all issue-level ratings, and assigning a 'BB' issue-level
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