S&P rates Waste Services loan B+

Standard & Poor's said it affirmed its ratings, including the B+ corporate credit rating and B- senior subordinated note rating, on Waste Services Inc. At the same time, S&P assigned its B+ rating and a recovery rating of 3 to Waste Service's proposed $160 million senior secured bank facilities.

The outlook remains stable.

S&P said the ratings on Waste Services reflect its acquisitive growth strategy and very aggressive financial profile, modest scale of operations relative to its peers, and integration risks associated with recent asset acquisitions.

This is partially offset by favorable industry characteristics, including high barriers of entry and recession resiliency; some geographic diversity; and the obtainment of several permitted, well-positioned long-lived landfills.

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