Rating Wireless Telecom Infrastructure Companies: The DBRS Approach to “Towercos”

Wireless telecommunications infrastructure is an asset class that has grown in popularity over the past two decades. Such companies are commonly known as telecom tower companies or “towercos,” and many of them exist globally. The size of the market is estimated at $300 billion and growing. In the United States, where the towerco business model began, there are currently more than 130 towercos, albeit a handful dominate.