S&P revises MIP V Waste view to negative

S&P said it revised its outlook for MIP V Waste LLC to negative from stable and affirmed its B+ ratings on the issuer and its $400 million senior secured term loan B and $100 million revolving credit facility. The 3 recovery ratings on the loans are unchanged.

“As the result of inflationary pressures and weather disruptions late in 2022 and through the first half of 2023, MIP V Waste LLC's operating performance has been modestly below our previous expectations. The company has seen lower demand in key markets, such as construction and demolition. Slightly offsetting the slowed demand has been the company's ability to increase pricing and tipping fees, leading to improved top-line results,” the agency said in a press release.

S&P said it continues to forecast that revenue will range between $350 million and $400 million in 2023 and between $400 million and $450 million in 2024.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.