US towerco Crown Castle plans to offer US$650m of 3.4% senior unsecured notes due 2021 and 2026, subject to market conditions. The move prompted ratings upgrades from Moody’s, which praised the REIT’s “prudent financial policies, strong and growing cash flows, ample liquidity … [and] long-term commitment to reduce its leverage and operate within a 4x-5x net […]