S&P rates Waste Management notes BBB

Standard & Poor's said it assigned its BBB issue-level rating to Waste Management Inc.'s $600 million senior notes due 2039.

S&P said it also affirmed all of its ratings, including the BBB corporate credit rating, on Waste Management and its affiliates.

The outlook remains stable.

The company will use most of the net proceeds from the notes offering to fund equity investments and acquisitions and the remaining proceeds for general corporate purposes.

S&P said the ratings and stable outlook reflect Waste Management's strong business profile as demonstrated by the essential nature of its services, leading market position and diversity and healthy operating margins.

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