S&P: Waste Industries view stable

Standard & Poor's said it revised its outlook on Waste Industries USA Inc. to stable from negative.

At the same time, the agency affirmed its B+ corporate credit rating on the company and its B+ issue-level rating on its senior secured debt. The recovery rating on the senior secured facility was revised to 3 from 4, indicating an expectation of meaningful (50% to 70%) recovery in the event of payment default.

"We base the outlook revision primarily on a reassessment of Waste Industries' competitive position," S&P credit analyst Pranay Sonalkar said in a news release.

S&P's analysis indicates that the company has demonstrated stable profitability over a long period, which under its revised criteria leads to a more favorable assessment of business risk.

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