Add to balance / Manage account | User: | Log out |
Prospect News home > News index > List of issuers W > Headlines for Waste Industries USA Inc. > News item |
S&P: Waste Industries negative
Standard & Poor's said it revised its outlook on Waste Industries USA Inc. to negative from stable.
At the same time, S&P affirmed its B+ corporate credit rating on the company as well as its B+ issue ratings and 4 recovery rating on the company's senior secured credit facility.
"The negative outlook reflects the increase in Waste Industries' leverage to 4.9x at Dec. 31, 2012 from 4.2x at Dec. 31, 2011, the limited headroom under its financial covenants following $96 million in acquisitions, and the weak pricing environment in 2012 that reduced EBITDA margins to 26.4% from the 27%-28% range of recent years," S&P credit analyst Pranay Sonalkar said in a news release.
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.