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Fitch rates Waste Management notes BBB+
Fitch Ratings said it assigned BBB+ ratings to Waste Management, Inc.'s planned issuance of seven- and 10-year senior unsecured notes.
The agency rates WM and Waste Management of Canada Corp.'s long-term issuer default ratings and senior unsecured notes BBB+.
The proceeds are expected to be used to pay down commercial paper and refinance the $500 million of notes due in May 2023.
“Fitch believes the transaction will be leverage neutral, and debt/EBITDA at YE2022 was 2.6x,” the agency said in a press release.
The outlook is stable.
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