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Moody's rates Waste Connections notes Baa2
Moody's Investors Service said it assigned a Baa2 rating to Waste Connections, Inc.'s senior unsecured notes and withdrew the Baa2 issuer rating.
The outlook is stable.
The company's Baa2 senior unsecured rating reflects the company's status as the third largest waste services provider in the stable North American solid waste sector, Moody's said.
The rating also considers its industry-leading EBITDA margin and strong free cash flow, the agency said.
The company's revenue base is modest relative to other companies and its strong credit metrics help mitigate scale concerns, Moody's said.
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