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Non-Tech : Auric Goldfinger's Short List -- Ignore unavailable to you. Want to Upgrade?

To: who cares? who wrote (8213)	9/6/2001 3:10:09 PM
From: Sir Auric Goldfinger	Respond to of 19428

DJ American Tower (AMT) Says May Be Unable To Make Debt Payments 2001-09-06 14:15 (New York) WASHINGTON (Dow Jones)--American Tower Corp. (AMT) said its substantial level of debt increases the possibility that it might not be able to generate enough cash to make debt payments, the company reported in a Form 8-K filed with the Securities and Exchange Commission Thursday. As of June 30, it had $3.6 billion of consolidated debt outstanding. The company said it might get additional long-term debt and working capital lines of credit to meet future financing needs. Separately, American Tower said it expects to have a weighted average cost per tower of $250,000 for a 25,000-site portfolio by 2005, according to the 8-K. One possible scenario to accomplish its goal calls for the company to have 11,000 new construction sites, 6,000 carrier acquisitions and 8,000 other acquisitions at a total cost of roughly $6.3 billion. American Tower, based in Boston, owns, leases and develops broadcast and wireless communications sites.