HOUSTON, Dec. 23, 2009 (GLOBE NEWSWIRE) -- Crown Castle International Corp. (NYSE:CCI) announced today the successful completion of an amendment to its operating company credit facility and extension of its operating company revolving credit facility ("Revolver"). The Revolver lenders have agreed to extend the maturity of Revolver commitments totaling $400 million through September 30, 2013. Crown Castle expects the Revolver to be undrawn at December 31, 2009.
"We are pleased to have increased and extended our Revolver, providing us with greater financial flexibility as we begin 2010 with over $1 billion in total liquidity including cash and availability under the Revolver," stated Jay Brown, Chief Financial Officer of Crown Castle. "I appreciate the support that we received from a number of financial institutions and believe the commitments underscore the strength of our business."
Crown Castle owns, operates, and leases towers and other communication structures for wireless communications. Crown Castle offers significant wireless communications coverage to 91 of the top 100 US markets and to substantially all of the Australian population. Crown Castle owns, operates and manages over 22,000 and approximately 1,600 wireless communication sites in the US and Australia, respectively. For more information on Crown Castle, please visit http://www.crowncastle.com.
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Cautionary Language Regarding Forward-Looking Statements
This press release contains forward-looking statements that are based on Crown Castle management's current expectations. Such statements include, but are not limited to, plans, projections and estimates regarding (i) cash balances and liquidity, and (ii) amounts drawn under the Revolver. Such forward-looking statements are subject to certain risks, uncertainties and assumptions, including prevailing market conditions and other factors. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those expected. More information about potential risk factors that could affect Crown Castle and its results is included in Crown Castle's filings with the Securities and Exchange Commission.