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  "documentTitle": "Crown Castle International Corp. (CCI)",
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  "presentationDate": "2014-10-14 00:00:00",
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  "notes": "The chart uses a dual-axis line graph to compare EV/EBITDA multiples against interest rates, including a trend line with a low R-squared value.",
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      "text": "Minimal correlation between tower multiples and interest rates over the last 10 years (correlation which exists is actually positive); towers traded at 20x - 24x EBITDA with interest rates over 200bps higher than today's levels",
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      "text": "Towers Avg. EV / NTM EBITDA (LHS) vs. U.S. 10 Year Yield (RHS)",
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      "text": "Minimal correlation between tower multiples and interest rates over the last 10 years (correlation which exists is actually positive); towers traded at 20x - 24x EBITDA with interest rates over 200bps higher than today’s levels",
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      "text": "Interest Rate Sensitivity (cont’d)",
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