Moody's puts Crown Castle unit on downgrade review (AP)

Friday October 10, 4:18 pm ET Moody's downgrades liquidity rating, puts other ratings on review for Crown Castle unit NEW YORK (AP) -- Moody's Investors Service on Friday lowered one debt rating and placed the other ratings of Crown Castle Operating Co. on review for possible downgrade. The primary operating subsidiary of Crown Castle International Corp., Houston-based Crown Castle Operating Co. rents communications antenna space to wireless operators on towers throughout the United States, and has some operations in Canada. Moody's lowered the company's speculative grade liquidity rating to "SGL-4" from "SGL-2." Moody's also said it is reviewing the "Ba3" corporate family rating, the "Ba3" probability of default, and the "Ba3" ratings on Crown Castle's senior secured credit facilities. The ratings review and downgrade... [read full story]