Fitch rates Waste Management notes BBB

Fitch Ratings said it affirmed Waste Management, Inc.'s issuer default rating at BBB, senior unsecured credit facility at BBB and senior unsecured debt at BBB.

The agency also assigned a rating of BBB to Waste Management's $500 million of senior notes due 2016.

The outlook is stable.

Proceeds will be used to fund the acquisition of Oakleaf Global Holdings with the remaining proceeds to be used for general corporate purposes.

Ratings reflect the waste services company's ongoing financial flexibility, favorable maturity profile and strong free cash flow generation despite what is expected to be a relatively low growth operating environment in 2011, the agency said.

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