Fitch rates Waste Connections notes BBB+

Fitch Ratings said it assigned a rating of BBB+ to Waste Connections, Inc.'s planned senior unsecured notes due 2028.

The proceeds from the issuance will be used for general corporate purposes, including acquisitions, Fitch said.

The notes will be pari passu with the company's existing senior unsecured debt.

Fitch said it currently rates the company with a BBB+ long-term issuer default rating, BBB+ senior unsecured bank debt rating and senior unsecured notes rating of BBB+.

The outlook is stable.

The company's higher profitability is supported by its dedication to a secondary-market focus, where it benefits from relatively stronger pricing control and lower competitive intensity, Fitch said.

The strategy is reflected in Waste Connections' ability to outpace cost inflation with pricing growth through the third quarter of 2018, the agency said.

The company benefits from consistent demand fundamentals in residential and commercial solid waste production and good geographic diversification within North America, Fitch said.

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