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  "documentTitle": "American Tower (AMT)",
  "authorId": "51_Muddy_Waters",
  "authorName": "Carson C. Block",
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  "presentationDate": "2013-07-17 00:00:00",
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  "notes": "The table includes country-specific CAPM/Damodaran data, EBITDA, CapX, and ownership weights to derive a final weighted discount rate of 9.4%.",
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      "text": "We selected discount rates that we believe reflect the risks associated with operating in the respective countries. The appropriate discount rate to use for American Tower is 9.5%. We have utilized the discount rates in the below table for discounting regional cash flows.",
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