Issuer Ranking: U.S. Environmental Services Companies, Strongest To Weakest Jan 12
Standard & Poors, January 2012
Abstract
Standard & Poor's Ratings Services expects credit quality in the U.S. environmental services industry to remain stable in 2012. Although the rating actions we took in the most recent quarter were something of a mixed bag-?one affirmation, two downgrades (on the same issuer), and two CreditWatch placements (one with positive implications and the other with developing implications)--these actions were related to company-specific issues and were not necessarily emblematic of industry-wide weakness in operating performance. We do not expect core pricing for solid waste services to rebound dramatically in 2012, even though the consumer price index (CPI) has grown by 3.4% as of Nov. 30, 2011. Many companies incorporate CPI levels into their contracts' pricing terms, but a weak economy, high...
Companies mentioned in this report are:
- Gundle/SLT Environmental Inc.
- Waste Management Inc.
- Clean Harbors Inc.
- Republic Services Inc.
- Casella Waste Systems Inc.
- Waste Connections Inc.
- Synagro Technologies Inc.
- Safety-Kleen Systems Inc.
- WCA Waste Corp.
- Belfor USA Group Inc.
- Aquilex Holdings LLC
- Advanced Disposal Services Inc.
- EnergySolutions Inc.
- Liberty Tire Recycling Holdco LLC
- Waste Industries U.S.A. Inc.
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: Commentary
Criteria articles describe the thought process and methodology Standard & Poor's analysts use in determining ratings. These commentary pieces discuss both the quantitative (economic and financial) and qualitative (business analysis and caliber of management) aspects of the analysis, as well as legal issues.
- Gundle/SLT Environmental Inc.
- Waste Management Inc.
- Clean Harbors Inc.
- Republic Services Inc.
- Casella Waste Systems Inc.
- Waste Connections Inc.
- Synagro Technologies Inc.
- Safety-Kleen Systems Inc.
- WCA Waste Corp.
- Belfor USA Group Inc.
- Aquilex Holdings LLC
- Advanced Disposal Services Inc.
- EnergySolutions Inc.
- Liberty Tire Recycling Holdco LLC
- Waste Industries U.S.A. Inc.
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