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Advanced Disposal Services Inc. Dec 11
Standard & Poors, Dec 2011
Abstract
Essential nature of services provided; and High operating margins. Leveraged capital structure; Acquisition-oriented growth strategy, which may involve additional debt incurrence; and Limited geographic diversity, with operations concentrated in the southeastern U.S. Standard & Poor's Ratings Services' ratings on Jacksonville, Fla.-based Advanced Disposal Services Inc. (ADS) reflect the regional solid waste hauler's modest scale of operations, geographic concentration of revenues and earnings, leveraged capital structure, and acquisition-oriented growth strategy. The company's participation in a recession-resistant industry, its fair degree of vertical integration, and its solid profitability partially offset these characteristics. In our opinion, the solid waste industry benefits from favorable characteristics, including the high necessity of services provided, which enhances the predictability of revenues and renders participants less prone to...
Companies mentioned in this report are: Advanced Disposal Services Inc.
Action: Review
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: Full Analysis
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