S&P rates Waste Management notes BBB

Standard & Poor's said it has assigned its BBB senior unsecured debt rating to Waste Management Inc.'s proposed offering of $800 million notes with six- and 10-year maturities.

At the same time, S&P said it affirmed its ratings on the company, including its BBB long-term and A-2 short-term corporate credit ratings.

The outlook is stable.

The agency said that Waste Management will use the proceeds of the notes issue for debt refinancing and general corporate purposes, adding that the notes will rank equally with all of the company's existing and future senior debt.

S&P noted that the ratings on Waste Management reflect its position as the largest solid waste management company in the United States and Canada and its intermediate financial risk profile.

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