Moody's ups Republic Services

Moody's Investors Service said it upgraded the senior unsecured debt rating of Republic Services, Inc. to Baa1 from Baa2.

This rating action concludes the review for possible upgrade initiated on Oct. 5, the agency said.

The outlook is stable.

According to Moody's, the upgrade reflects the company's consistent pace of internal revenue growth, the sustainability of its profit margins, good liquidity and moderate leverage for the rating category.

The upgrade also reflects strong credit metrics and relatively conservative balance sheet for the industry, the agency noted.

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