Moody’s drops ADS Waste, loans & notes

Moody's Investors Service said it downgraded ADS Waste Holdings, Inc.'s corporate family and probability of default ratings to B3 and B3-PD, respectively, from B2 and B2-PD.

The first-lien revolving credit facility and term loan were also downgraded to B2 from B1 and the unsecured notes were downgraded to Caa2 from Caa1.

Moody’s said the downgrades reflect expectation for the company's financial profile to remain consistent with weak B rated waste issuers. Moody's also assigned an SGL-3 speculative grade liquidity rating.

The outlook is stable.

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