S&P lowers WIN Waste Innovations

S&P said it lowered its ratings for WIN Waste Innovations Holdings Inc. and its senior secured bank loans to B from B+. The senior secured recovery rating remains unchanged at 3.

“Lower volumes in some areas of operations, lower commodity prices, and one-time expenses are among factors that have contributed to earnings lower than our previous expectations. Some of these negative factors appear to be related to a more challenging operating environment in general, including inflationary pressures and volatile commodity pricing,” S&P said in a press release.

However, the agency noted it sees management’s efforts will stabilize earnings.

The outlook is negative.

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