Moody’s rates Republic notes Baa2

Moody’s Investors Service said it assigned Republic Services, Inc.’s new bonds Baa2.

All Moody’s other ratings for Republic are unaffected, including the Baa2 senior unsecured ratings on the company's currently outstanding notes, the agency said.

“Moody's views the recent issuance of two tranches of notes ($400 million due 2029 and $800 million due 2034) to be leverage neutral, as the rating agency expects that the net proceeds will be used to pay down existing debt and extinguish outstanding debt, of which $300 million senior notes mature in 2023,” the agency said in a press release.

The outlook is stable.

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