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S&P may cut Waste Connections
Standard & Poor's said it placed its BBB rating on Waste Connections Inc. on CreditWatch with negative implications.
"The CreditWatch placement reflects the likelihood that Waste Connections Inc.'s financial risk profile will weaken beyond expectations at the current rating, given the expectation that the company will primarily fund the R360 Environmental Solutions acquisition with debt," said S&P credit analyst Henry Fukuchi in a news release.
"The CreditWatch placement will also allow for a reassessment of Waste Connections' business risk profile following the acquisition and a more thorough understanding of management's financial policy objectives."
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