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Wednesday, October 5, 2022
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Choice Parent Company Joins S&P Index

Standard & Poor’s will add Choice Communications’ parent company Atlantic Tele-Network (ATN) to its S&P SmallCap 600 Index at the close of trading Thursday, according to ATN officials.
The move "reflects the significant increase in market valuation that our company has achieved over the past 18 months," said ATN Chief Executive Officer Michael Prior in a statement from the company.
Introduced in 1994, the S&P SmallCap 600 Index includes publicly traded companies with a market cap between $250 million and $1.2 billion, which meet specific Standard & Poor’s criteria of financial viability and investment potential.
ATN will be added to the S&P SmallCap 600 GICS Integrated Telecommunication Services Sub-Industry index. This particular index covers about 3 percent of the domestic equities market, according to S&P. Definitions vary somewhat by what company is making the list, but small cap generally means companies where the total price of all shares is less than about $2 billion. It is a market known for poor trading liquidity and financial instability. The S&P SmallCap 600 is designed to be an efficient portfolio of companies that meet specific inclusion criteria to ensure that they are investable and financially viable, according to S&P.
ATN is headquartered in Beverly, Mass., and provides telecommunications services to rural, niche and other under-served markets and geographies in the United States, Bermuda and the Caribbean. It is parent company to Choice Communications, a major internet provider in the territory, which plans to expand into cellular phone service this year.

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