Moody's confirms Waste Management

Moody's Investors Service said it confirmed all of its debt ratings of Waste Management, Inc., including the Baa3 senior unsecured rating and changed the outlook to stable.

The agency said that the ratings confirmation followed Waste Management's Oct. 13 announcement that it has abandoned the attempted acquisition of Republic Services, Inc. (Baa1, on review for possible downgrade) because of the current state of financial markets.

"The stable outlook reflects Moody's belief that Waste Management can sustain its operating performance close to current levels notwithstanding that weakening economic conditions would likely further depress waste disposal volumes," said Moody's analyst Jonathan Root.

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