S&P affirms Waste Management

Standard & Poor's said it affirmed its BBB corporate credit and other ratings on Waste Management Inc. and removed the ratings from Creditwatch with negative implications, where they were placed on July 14.

The ratings affirmation reflects the company's announcement that it has decided to withdraw its proposal to acquire competitor Republic Services Inc. in light of the current state of the financial markets, S&P said.

The outlook is stable.

The agency noted that the ratings affirmation reflects its view that Waste Management's decision to cease its attempts to acquire Republic reduces the risk of the company incurring a debt and interest burden that would harm credit quality.

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