Fitch: iHeart's Ratings Unaffected by $400MM in Tower Sales

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CHICAGO--(BUSINESS WIRE)--Fitch Ratings' Issuer Default Ratings (IDR) of iHeartCommunications Inc. (iHeart; rated 'CCC') and Clear Channel Worldwide Holdings, Inc. (rated 'B'), are unaffected by the proposed sale of tower sites. iHeart's announcement that one of its indirect parent's (iHeartMedia Inc.) subsidiaries has entered into an agreement to sell 411 of broadcast communication tower sites and related assets for up to $400 million to Vertical Bridge is in line with Fitch's expectation that

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