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Moody’s: GFL unaffected by note add-on
Moody's Investors Service said that GFL Environmental Inc.'s B2 corporate family rating, B2-PD probability of default rating, B3 senior unsecured notes rating and stable outlook remain unchanged following the company's announcement that it plans to issue a $150 million add-on to its existing 9 7/8% senior unsecured notes due in February 2021.
GFL will use the net proceeds to repay outstanding amounts under its revolving credit facility.
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