Casella Waste Systems Inc. Ratings Lowered To 'B' From 'B+' On Limited Financial Covenant Headroom; Outlook Is Negative Mar 12

Standard & Poors, March 2012

Abstract
U.S.-based Casella Waste Systems Inc. has very limited headroom under its financial covenants, one of which steps down as of the company's fiscal-year end date, April 30, 2012. We are lowering our corporate credit rating on Casella to 'B'. We are also lowering our ratings on the company's various debt issues. The negative outlook reflects our view that, despite the likelihood that an amendment will provide additional financial covenant headroom, there is still some uncertainty regarding the extent of the relief, as well as the timing of future step-downs; combining this with our expectations of weak credit measures, we do not yet preclude the possibility of another downgrade over the next year. NEW YORK (Standard & Poor's) March 8, 2012--Standard...

Companies mentioned in this report are: Casella Waste Systems Inc.
Action: Downgraded
Action: Outlook: Negative

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Research type: News
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Casella Waste Systems Inc.

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