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Fitch rates Waste Management of Canada notes BBB+
Fitch Ratings said it assigned a rating of BBB+ to Waste Management of Canada Corp.’s C$500 million senior notes.
The agency also assigned a BBB+ issuer default rating to the company, an indirect subsidiary of Waste Management Inc., which is rated BBB+, too.
“Fitch’s ratings on the notes reflect its expectation that the proceeds from the senior notes will be primarily used to provide funding for the acquisition of Advanced Disposal Services, Inc. (ADSW). The Canadian issuance diversifies funding sources and supports balancing FX risk though Canadian operations are a small portion of the overall business,” said Fitch in a press release.
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