Fitch: Republic Services on watch

Fitch Ratings said it placed the ratings of Republic Services, Inc. on rating watch negative following this morning's announcement that the company intends to merge with Allied Waste Industries, Inc.

Fitch said that affected ratings include Republic Services' issuer default rating BBB+, senior unsecured credit facility rating BBB+ and senior unsecured rating BBB+.

Fitch noted that its ratings apply to $825 million in unsecured notes and a $1 billion unsecured revolving credit facility.

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