S&P rates Waste Connections notes BBB+

S&P said it assigned a BBB+ rating to Waste Connections Inc.'s proposed $500 million senior unsecured notes due 2029.

The proceeds will be used to pay down the company's outstanding revolver borrowings, S&P said.

Waste Connections will also use a smaller portion of the proceeds to repay its term loans and will allocate the remaining funds for general corporate purposes, including acquisitions, the agency said.

All of the other ratings on Waste Connections, including its BBB+ issuer credit rating, are unchanged, S&P said.

The ratings reflect the essential nature of the company's services, leading presence in several growing markets, high strategic and operational management competence and accretive acquisitions, the agency said.

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