Progressive Waste Solutions Ltd. Outlook Revised To Positive On Continued Strong Performance; ?BB+? CCR Affirmed Sep 11
Standard & Poors, September 2011
Abstract
Progressive Waste Solutions Ltd. (PWS) continues to demonstrate solid operating performance and consistent free cash flow generation, and its leverage metrics have continued to improve since its 2010 acquisition of Waste Service Inc. As a result, Standard & Poor's is revising its outlook on PWS and subsidiary IESI Corp. to positive from stable, reflecting prospects for sustained lower leverage levels and expectations that the company will maintain its current financial policies and leverage targets. We are also affirming our 'BB+' long-term corporate credit rating on PWS and IESI. At the same time, we affirmed our 'BBB-' issue-level ratings on IESI's US$1.122 billion secured credit facility. The recovery rating on the debt is unchanged at '2'. TORONTO (Standard & Poor's) Sept....
Companies mentioned in this report are: Progressive Waste Solutions Ltd.
Action: Affirmed
Action: Outlook: Positive
Standard and Poors RatingsXpress Credit Research provides in-depth coverage of international corporates, financial institutions, insurance companies, utilities, sovereigns and structured finance programs. RatingsXpress Credit Research lets users determine the credit rating of holdings and identify key factors underlying an issuer's creditworthiness, distinguishes the different risk exposures for new and existing deals, and provides an understanding of how their analysts interpret key regulatory, political and environmental events and their economic impact.
Research type: News
This product is a is a brief one-page announcement of no more than 500 words with a quote from the analyst. It is media and investor focused with no accompanying commentary article.
Progressive Waste Solutions Ltd.
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