S&P: WCA Waste outlook stable

Standard & Poor's said it revised its outlook on WCA Waste Corp. to stable from positive and affirmed all the ratings, including the B corporate credit rating.

The agency said the outlook revision reflects WCA's highly leveraged financial profile with somewhat diminished cushion under financial covenants amidst a slowing economic environment.

S&P does not expect the company's earnings prospects to improve meaningfully in the near term to justify a positive outlook. The agency said it is now more concerned that deterioration in business conditions could further erode the covenant cushions, potentially requiring another amendment and resulting in higher interest expenses and fees.

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